PGEOX vs. FCSRX
PGEOX (George Putnam Balanced Fund) and FCSRX (Fidelity Advisor Strategic Real Return Fund Class C) are both Diversified Portfolio funds. Over the past 10 years, PGEOX returned 10.25%/yr vs 4.47%/yr for FCSRX. A 0.54 correlation means they provide meaningful diversification when combined. PGEOX charges 0.94%/yr vs 1.70%/yr for FCSRX.
Performance
PGEOX vs. FCSRX - Performance Comparison
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Returns By Period
In the year-to-date period, PGEOX achieves a 7.40% return, which is significantly higher than FCSRX's 6.09% return. Over the past 10 years, PGEOX has outperformed FCSRX with an annualized return of 10.25%, while FCSRX has yielded a comparatively lower 4.47% annualized return.
PGEOX
- 1D
- -0.45%
- 1M
- 0.59%
- YTD
- 7.40%
- 6M
- 6.81%
- 1Y
- 19.13%
- 3Y*
- 17.08%
- 5Y*
- 9.15%
- 10Y*
- 10.25%
FCSRX
- 1D
- 0.00%
- 1M
- -1.82%
- YTD
- 6.09%
- 6M
- 5.84%
- 1Y
- 11.64%
- 3Y*
- 8.22%
- 5Y*
- 4.88%
- 10Y*
- 4.47%
PGEOX vs. FCSRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGEOX George Putnam Balanced Fund | 7.40% | 14.02% | 20.65% | 19.93% | -17.59% | 13.80% | 9.25% | 22.61% | -3.03% | 15.02% |
FCSRX Fidelity Advisor Strategic Real Return Fund Class C | 6.09% | 9.27% | 4.75% | 3.60% | -4.26% | 14.68% | 2.60% | 9.54% | -5.03% | 3.02% |
Correlation
The correlation between PGEOX and FCSRX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2005 | 0.54 |
Over the past year, the correlation between PGEOX and FCSRX has dropped to 0.29 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
PGEOX vs. FCSRX — Risk / Return Rank
PGEOX
FCSRX
PGEOX vs. FCSRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for George Putnam Balanced Fund (PGEOX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). 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 | FCSRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.46 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 4.14 | -0.65 |
| Martin ratioReturn relative to average drawdown | 15.81 | 16.77 | -0.96 |
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Drawdowns
PGEOX vs. FCSRX - Drawdown Comparison
The maximum PGEOX drawdown since its inception was -50.63%, which is greater than FCSRX's maximum drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for PGEOX and FCSRX.
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Drawdown Indicators
| PGEOX | FCSRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.63% | -33.91% | -16.72% |
Max Drawdown (1Y)Largest decline over 1 year | -5.72% | -2.76% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -12.61% | -5.85% | -6.76% |
Max Drawdown (5Y)Largest decline over 5 years | -21.36% | -13.22% | -8.14% |
Max Drawdown (10Y)Largest decline over 10 years | -23.00% | -20.02% | -2.98% |
Current DrawdownCurrent decline from peak | -1.37% | -2.76% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -11.73% | -5.09% | -6.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.68% | +0.58% |
Volatility
PGEOX vs. FCSRX - Volatility Comparison
George Putnam Balanced Fund (PGEOX) has a higher volatility of 3.39% compared to Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) at 1.39%. This indicates that PGEOX's price experiences larger fluctuations and is considered to be riskier than FCSRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGEOX | FCSRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 1.39% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 3.71% | +3.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.61% | 4.76% | +3.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.49% | 6.89% | +4.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.66% | 6.71% | +4.95% |
PGEOX vs. FCSRX - Expense Ratio Comparison
PGEOX has a 0.94% expense ratio, which is lower than FCSRX's 1.70% expense ratio.
Dividends
PGEOX vs. FCSRX - Dividend Comparison
PGEOX's dividend yield for the trailing twelve months is around 7.63%, more than FCSRX's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCSRX Fidelity Advisor Strategic Real Return Fund Class C | 3.34% | 3.74% | 3.86% | 4.35% | 6.51% | 4.53% | 1.32% | 2.20% | 8.51% | 1.58% | 1.34% | 0.66% |
PGEOX George Putnam Balanced Fund | 7.63% | 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
PGEOX and FCSRX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGEOX has higher volatility (3.39%) compared to FCSRX (1.39%). In terms of maximum drawdown, PGEOX dropped -50.63% vs FCSRX's -33.91%.
FCSRX currently has the higher Sharpe Ratio (2.40 vs 2.33), 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.
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