PGILX vs. PEYAX

Last updated Jun 4, 2026

PGILX (Putnam Focused Equity Fund) and PEYAX (Putnam Large Cap Value Fund) are both mutual funds - PGILX is a Large Cap Growth Equities fund managed by Putnam, while PEYAX is a Large Cap Value Equities fund managed by Putnam. Over the past 10 years, PGILX returned 14.80%/yr vs 13.17%/yr for PEYAX. Their correlation of 0.84 suggests significant overlap in exposure. PGILX charges 0.90%/yr vs 0.88%/yr for PEYAX.

Performance

PGILX vs. PEYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Focused Equity Fund (PGILX) and Putnam Large Cap Value Fund (PEYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGILX achieves a 11.00% return, which is significantly higher than PEYAX's 9.88% return. Over the past 10 years, PGILX has outperformed PEYAX with an annualized return of 14.80%, while PEYAX has yielded a comparatively lower 13.17% annualized return.

PGILX

• 1D: 0.35%
• 1M: 5.69%
• YTD: 11.00%
• 6M: 11.10%
• 1Y: 30.02%
• 3Y*: 24.36%
• 5Y*: 14.92%
• 10Y*: 14.80%

PEYAX

• 1D: 1.22%
• 1M: 3.96%
• YTD: 9.88%
• 6M: 11.85%
• 1Y: 27.05%
• 3Y*: 20.71%
• 5Y*: 11.97%
• 10Y*: 13.17%

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

PGILX vs. PEYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGILX Putnam Focused Equity Fund	11.00%	19.56%	29.47%	24.67%	-14.23%	21.76%	16.87%	30.34%	-13.86%	28.11%
PEYAX Putnam Large Cap Value Fund	9.88%	20.09%	18.99%	15.09%	-8.37%	26.84%	5.87%	29.94%	-8.63%	18.79%

Correlation

The correlation between PGILX and PEYAX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 22, 2008	0.84

The correlation between PGILX and PEYAX shifts across timeframes, from 0.72 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PGILX vs. PEYAX — Risk / Return Rank

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

PGILX

PGILX Risk / Return Rank: 66
PGILX Sharpe Ratio Rank: 68
PGILX Sortino Ratio Rank: 61
PGILX Omega Ratio Rank: 62
PGILX Calmar Ratio Rank: 66
PGILX Martin Ratio Rank: 75

PEYAX

PEYAX Risk / Return Rank: 80
PEYAX Sharpe Ratio Rank: 83
PEYAX Sortino Ratio Rank: 80
PEYAX Omega Ratio Rank: 73
PEYAX Calmar Ratio Rank: 83
PEYAX Martin Ratio Rank: 80

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.

PGILX vs. PEYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Equity Fund (PGILX) and Putnam Large Cap Value Fund (PEYAX). 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.

	PGILX	PEYAX	Difference
Sharpe ratio Return per unit of total volatility	2.42	2.66	-0.24
Sortino ratio Return per unit of downside risk	3.28	3.77	-0.49
Omega ratio Gain probability vs. loss probability	1.44	1.48	-0.04
Calmar ratio Return relative to maximum drawdown	3.13	3.85	-0.72
Martin ratio Return relative to average drawdown	14.21	15.02	-0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGILX vs. PEYAX - Sharpe Ratio Comparison

The current PGILX Sharpe Ratio is 2.42, which is comparable to the PEYAX Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of PGILX and PEYAX, 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

	PGILX	PEYAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.66	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.82	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.77	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.38	+0.37

Drawdowns

PGILX vs. PEYAX - Drawdown Comparison

The maximum PGILX drawdown since its inception was -36.19%, smaller than the maximum PEYAX drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for PGILX and PEYAX.

Drawdown Indicators

	PGILX	PEYAX	Difference
Max Drawdown Largest peak-to-trough decline	-36.19%	-56.92%	+20.73%
Max Drawdown (1Y) Largest decline over 1 year	-9.87%	-7.23%	-2.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	-15.12%	-4.77%
Max Drawdown (5Y) Largest decline over 5 years	-21.29%	-15.31%	-5.98%
Max Drawdown (10Y) Largest decline over 10 years	-36.19%	-36.06%	-0.13%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.33%	-14.06%	+8.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	1.85%	+0.32%

Volatility

PGILX vs. PEYAX - Volatility Comparison

Putnam Focused Equity Fund (PGILX) has a higher volatility of 3.15% compared to Putnam Large Cap Value Fund (PEYAX) at 2.58%. This indicates that PGILX's price experiences larger fluctuations and is considered to be riskier than PEYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGILX	PEYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	2.58%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	8.01%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	10.47%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	14.68%	+2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.15%	17.06%	+1.09%

PGILX vs. PEYAX - Expense Ratio Comparison

PGILX has a 0.90% expense ratio, which is higher than PEYAX's 0.88% expense ratio.

Dividends

PGILX vs. PEYAX - Dividend Comparison

PGILX's dividend yield for the trailing twelve months is around 7.08%, more than PEYAX's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEYAX Putnam Large Cap Value Fund	4.81%	5.36%	6.80%	4.93%	1.21%	7.09%	5.97%	3.79%	5.67%	3.31%	2.27%	5.86%
PGILX Putnam Focused Equity Fund	7.08%	7.86%	10.55%	0.86%	6.93%	8.17%	0.00%	2.53%	8.35%	4.37%	3.40%	3.90%

Frequently Asked Questions

Can I hold both PGILX and PEYAX in my portfolio?

PGILX and PEYAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGILX or PEYAX?

PGILX has higher volatility (3.15%) compared to PEYAX (2.58%). In terms of maximum drawdown, PGILX dropped -36.19% vs PEYAX's -56.92%.

Which has better risk-adjusted returns?

PEYAX currently has the higher Sharpe Ratio (2.66 vs 2.42), 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.