PGEOX vs. ABALX

Last updated Jun 23, 2026

PGEOX (George Putnam Balanced Fund) and ABALX (American Funds American Balanced Fund Class A) are both Diversified Portfolio funds. Over the past 10 years, PGEOX returned 10.15%/yr vs 10.11%/yr for ABALX. Their correlation of 0.94 suggests significant overlap in exposure. PGEOX charges 0.94%/yr vs 0.56%/yr for ABALX.

Performance

PGEOX vs. ABALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in George Putnam Balanced Fund (PGEOX) and American Funds American Balanced Fund Class A (ABALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGEOX achieves a 7.88% return, which is significantly lower than ABALX's 9.77% return. Both investments have delivered pretty close results over the past 10 years, with PGEOX having a 10.15% annualized return and ABALX not far behind at 10.11%.

PGEOX

• 1D: 0.73%
• 1M: 1.05%
• YTD: 7.88%
• 6M: 7.68%
• 1Y: 20.45%
• 3Y*: 16.99%
• 5Y*: 9.46%
• 10Y*: 10.15%

ABALX

• 1D: 0.84%
• 1M: 1.76%
• YTD: 9.77%
• 6M: 10.06%
• 1Y: 23.85%
• 3Y*: 16.77%
• 5Y*: 9.87%
• 10Y*: 10.11%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PGEOX vs. ABALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGEOX George Putnam Balanced Fund	7.88%	14.02%	20.65%	19.93%	-17.59%	13.80%	9.25%	22.61%	-3.03%	15.02%
ABALX American Funds American Balanced Fund Class A	9.77%	18.45%	14.63%	13.65%	-12.13%	15.75%	10.85%	18.60%	-3.35%	14.69%

Correlation

The correlation between PGEOX and ABALX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 2, 1986	0.94

The correlation between PGEOX and ABALX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

PGEOX vs. ABALX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PGEOX

PGEOX Risk / Return Rank: 80
PGEOX Sharpe Ratio Rank: 78
PGEOX Sortino Ratio Rank: 76
PGEOX Omega Ratio Rank: 75
PGEOX Calmar Ratio Rank: 82
PGEOX Martin Ratio Rank: 89

ABALX

ABALX Risk / Return Rank: 83
ABALX Sharpe Ratio Rank: 86
ABALX Sortino Ratio Rank: 83
ABALX Omega Ratio Rank: 81
ABALX Calmar Ratio Rank: 79
ABALX Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PGEOX vs. ABALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for George Putnam Balanced Fund (PGEOX) and American Funds American Balanced Fund Class A (ABALX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PGEOX	ABALX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.59	-0.22
Sortino ratio: Return per unit of downside risk	3.32	3.60	-0.28
Omega ratio: Gain probability vs. loss probability	1.45	1.49	-0.04
Calmar ratio: Return relative to maximum drawdown	3.55	3.38	+0.17
Martin ratio: Return relative to average drawdown	16.10	14.98	+1.12

PGEOX vs. ABALX - Sharpe Ratio Comparison

The current PGEOX Sharpe Ratio is 2.37, which is comparable to the ABALX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of PGEOX and ABALX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PGEOX vs. ABALX - Drawdown Comparison

The maximum PGEOX drawdown since its inception was -50.63%, which is greater than ABALX's maximum drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for PGEOX and ABALX.

Drawdown Indicators

	PGEOX	ABALX	Difference
Max Drawdown Largest peak-to-trough decline	-50.63%	-40.20%	-10.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-7.03%	+1.31%
Max Drawdown (3Y) Largest decline over 3 years	-12.61%	-10.68%	-1.93%
Max Drawdown (5Y) Largest decline over 5 years	-21.36%	-18.76%	-2.60%
Max Drawdown (10Y) Largest decline over 10 years	-23.00%	-22.34%	-0.66%
Current Drawdown Current decline from peak	-0.92%	-0.19%	-0.73%
Average Drawdown Average peak-to-trough decline	-11.73%	-3.85%	-7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	1.58%	-0.32%

Volatility

PGEOX vs. ABALX - Volatility Comparison

George Putnam Balanced Fund (PGEOX) and American Funds American Balanced Fund Class A (ABALX) have volatilities of 3.43% and 3.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGEOX	ABALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	3.45%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	6.99%	7.35%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	8.58%	9.19%	-0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.48%	10.57%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.66%	10.71%	+0.95%

PGEOX vs. ABALX - Expense Ratio Comparison

PGEOX has a 0.94% expense ratio, which is higher than ABALX's 0.56% expense ratio.

Dividends

PGEOX vs. ABALX - Dividend Comparison

PGEOX's dividend yield for the trailing twelve months is around 7.60%, more than ABALX's 7.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABALX American Funds American Balanced Fund Class A	7.10%	8.27%	6.87%	2.05%	2.30%	4.30%	4.35%	3.49%	5.49%	4.72%	4.24%	5.60%
PGEOX George Putnam Balanced Fund	7.60%	8.13%	7.99%	1.10%	0.89%	7.75%	1.05%	5.22%	9.04%	1.10%	1.18%	1.13%

Frequently Asked Questions

Can I hold both PGEOX and ABALX in my portfolio?

With a correlation of 0.94, PGEOX and ABALX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PGEOX or ABALX?

ABALX has higher volatility (3.45%) compared to PGEOX (3.43%). In terms of maximum drawdown, PGEOX dropped -50.63% vs ABALX's -40.20%.

Which has better risk-adjusted returns?

ABALX currently has the higher Sharpe Ratio (2.59 vs 2.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.