PGEOX vs. BWBIX

Last updated Jun 4, 2026

PGEOX (George Putnam Balanced Fund) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, PGEOX returned 9.76%/yr vs 4.59%/yr for BWBIX. Their correlation of 0.87 suggests significant overlap in exposure. PGEOX charges 0.94%/yr vs 0.05%/yr for BWBIX.

Performance

PGEOX vs. BWBIX - Performance Comparison

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

Returns By Period

In the year-to-date period, PGEOX achieves a 8.89% return, which is significantly higher than BWBIX's 0.74% return.

PGEOX

• 1D: 0.27%
• 1M: 4.47%
• YTD: 8.89%
• 6M: 8.90%
• 1Y: 22.47%
• 3Y*: 18.07%
• 5Y*: 9.76%
• 10Y*: 10.18%

BWBIX

• 1D: -1.04%
• 1M: 4.14%
• YTD: 0.74%
• 6M: 5.76%
• 1Y: 11.63%
• 3Y*: 13.94%
• 5Y*: 4.59%
• 10Y*: —

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

PGEOX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PGEOX George Putnam Balanced Fund	8.89%	14.02%	20.65%	19.93%	-17.59%	13.80%	9.25%	22.61%	-4.07%
BWBIX Baron WealthBuilder Fund	0.74%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between PGEOX and BWBIX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since May 22, 2018	0.87

The correlation between PGEOX and BWBIX has been stable across timeframes, ranging from 0.77 to 0.87 - a consistent structural relationship.

Return for Risk

PGEOX vs. BWBIX — Risk / Return Rank

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

PGEOX

PGEOX Risk / Return Rank: 86
PGEOX Sharpe Ratio Rank: 87
PGEOX Sortino Ratio Rank: 85
PGEOX Omega Ratio Rank: 82
PGEOX Calmar Ratio Rank: 85
PGEOX Martin Ratio Rank: 91

BWBIX

BWBIX Risk / Return Rank: 11
BWBIX Sharpe Ratio Rank: 11
BWBIX Sortino Ratio Rank: 12
BWBIX Omega Ratio Rank: 11
BWBIX Calmar Ratio Rank: 11
BWBIX Martin Ratio Rank: 12

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. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for George Putnam Balanced Fund (PGEOX) and Baron WealthBuilder Fund (BWBIX). 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.

	PGEOX	BWBIX	Difference
Sharpe ratio Return per unit of total volatility	2.84	0.85	+1.99
Sortino ratio Return per unit of downside risk	4.02	1.37	+2.66
Omega ratio Gain probability vs. loss probability	1.54	1.16	+0.38
Calmar ratio Return relative to maximum drawdown	4.02	1.05	+2.97
Martin ratio Return relative to average drawdown	18.98	3.47	+15.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGEOX vs. BWBIX - Sharpe Ratio Comparison

The current PGEOX Sharpe Ratio is 2.84, which is higher than the BWBIX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of PGEOX and BWBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PGEOX	BWBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.84	0.85	+1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.22	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.53	-0.09

Drawdowns

PGEOX vs. BWBIX - Drawdown Comparison

The maximum PGEOX drawdown since its inception was -50.63%, which is greater than BWBIX's maximum drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for PGEOX and BWBIX.

Drawdown Indicators

	PGEOX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-50.63%	-39.14%	-11.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-11.65%	+5.93%
Max Drawdown (3Y) Largest decline over 3 years	-12.61%	-21.59%	+8.98%
Max Drawdown (5Y) Largest decline over 5 years	-21.36%	-39.14%	+17.78%
Max Drawdown (10Y) Largest decline over 10 years	-23.00%	—	—
Current Drawdown Current decline from peak	0.00%	-1.26%	+1.26%
Average Drawdown Average peak-to-trough decline	-11.74%	-11.72%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.21%	3.53%	-2.32%

Volatility

PGEOX vs. BWBIX - Volatility Comparison

The current volatility for George Putnam Balanced Fund (PGEOX) is 2.33%, while Baron WealthBuilder Fund (BWBIX) has a volatility of 3.38%. This indicates that PGEOX experiences smaller price fluctuations and is considered to be less risky than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGEOX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	3.38%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	6.38%	10.99%	-4.61%
Volatility (1Y) Calculated over the trailing 1-year period	8.10%	14.36%	-6.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	21.08%	-9.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.63%	23.14%	-11.51%

PGEOX vs. BWBIX - Expense Ratio Comparison

PGEOX has a 0.94% expense ratio, which is higher than BWBIX's 0.05% expense ratio.

Dividends

PGEOX vs. BWBIX - Dividend Comparison

PGEOX's dividend yield for the trailing twelve months is around 7.53%, which matches BWBIX's 7.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWBIX Baron WealthBuilder Fund	7.55%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%	0.00%	0.00%
PGEOX George Putnam Balanced Fund	7.53%	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 BWBIX in my portfolio?

PGEOX and BWBIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGEOX or BWBIX?

BWBIX has higher volatility (3.38%) compared to PGEOX (2.33%). In terms of maximum drawdown, PGEOX dropped -50.63% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

PGEOX currently has the higher Sharpe Ratio (2.84 vs 0.85), 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.