PGOYX vs. VUG

Last updated Jun 4, 2026

PGOYX (Putnam Large Cap Growth Y) and VUG (Vanguard Growth ETF) are both Large Cap Growth Equities funds. Over the past 10 years, PGOYX returned 18.83%/yr vs 18.26%/yr for VUG. With a 0.97 correlation, they move nearly in lockstep. PGOYX charges 0.65%/yr vs 0.03%/yr for VUG.

Performance

PGOYX vs. VUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Large Cap Growth Y (PGOYX) and Vanguard Growth ETF (VUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PGOYX having a 9.63% return and VUG slightly lower at 9.49%. Both investments have delivered pretty close results over the past 10 years, with PGOYX having a 18.83% annualized return and VUG not far behind at 18.26%.

PGOYX

• 1D: -0.12%
• 1M: 7.19%
• YTD: 9.63%
• 6M: 9.26%
• 1Y: 26.15%
• 3Y*: 24.50%
• 5Y*: 14.95%
• 10Y*: 18.83%

VUG

• 1D: -1.23%
• 1M: 6.22%
• YTD: 9.49%
• 6M: 8.72%
• 1Y: 27.84%
• 3Y*: 25.93%
• 5Y*: 15.11%
• 10Y*: 18.26%

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

PGOYX vs. VUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGOYX Putnam Large Cap Growth Y	9.63%	14.56%	33.58%	44.57%	-30.25%	22.95%	38.79%	36.76%	2.58%	31.29%
VUG Vanguard Growth ETF	9.49%	19.40%	32.69%	46.83%	-33.16%	27.35%	40.25%	37.03%	-3.32%	27.72%

Correlation

The correlation between PGOYX and VUG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004	0.97

The correlation between PGOYX and VUG has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

PGOYX vs. VUG — Risk / Return Rank

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

PGOYX

PGOYX Risk / Return Rank: 28
PGOYX Sharpe Ratio Rank: 35
PGOYX Sortino Ratio Rank: 31
PGOYX Omega Ratio Rank: 32
PGOYX Calmar Ratio Rank: 20
PGOYX Martin Ratio Rank: 21

VUG

VUG Risk / Return Rank: 43
VUG Sharpe Ratio Rank: 50
VUG Sortino Ratio Rank: 47
VUG Omega Ratio Rank: 48
VUG Calmar Ratio Rank: 33
VUG Martin Ratio Rank: 37

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.

PGOYX vs. VUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Large Cap Growth Y (PGOYX) and Vanguard Growth ETF (VUG). 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.

	PGOYX	VUG	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.77	-0.07
Sortino ratio: Return per unit of downside risk	2.32	2.40	-0.08
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	1.65	1.69	-0.04
Martin ratio: Return relative to average drawdown	5.51	5.92	-0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGOYX vs. VUG - Sharpe Ratio Comparison

The current PGOYX Sharpe Ratio is 1.70, which is comparable to the VUG Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of PGOYX and VUG, 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

	PGOYX	VUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.77	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.68	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.85	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.62	-0.26

Drawdowns

PGOYX vs. VUG - Drawdown Comparison

The maximum PGOYX drawdown since its inception was -76.03%, which is greater than VUG's maximum drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for PGOYX and VUG.

Drawdown Indicators

	PGOYX	VUG	Difference
Max Drawdown Largest peak-to-trough decline	-76.03%	-50.68%	-25.35%
Max Drawdown (1Y) Largest decline over 1 year	-16.34%	-16.53%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-23.63%	-22.85%	-0.78%
Max Drawdown (5Y) Largest decline over 5 years	-34.01%	-35.61%	+1.60%
Max Drawdown (10Y) Largest decline over 10 years	-34.01%	-35.61%	+1.60%
Current Drawdown Current decline from peak	-0.12%	-1.51%	+1.39%
Average Drawdown Average peak-to-trough decline	-31.53%	-7.09%	-24.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	4.71%	+0.17%

Volatility

PGOYX vs. VUG - Volatility Comparison

Putnam Large Cap Growth Y (PGOYX) and Vanguard Growth ETF (VUG) have volatilities of 3.68% and 3.83%, 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

	PGOYX	VUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.83%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.08%	12.11%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	15.84%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.66%	22.22%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	21.44%	-0.23%

PGOYX vs. VUG - Expense Ratio Comparison

PGOYX has a 0.65% expense ratio, which is higher than VUG's 0.03% expense ratio.

Dividends

PGOYX vs. VUG - Dividend Comparison

PGOYX's dividend yield for the trailing twelve months is around 4.77%, more than VUG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGOYX Putnam Large Cap Growth Y	4.77%	5.23%	4.25%	0.46%	7.30%	8.55%	3.12%	3.65%	7.92%	2.05%	0.02%	5.78%
VUG Vanguard Growth ETF	0.37%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%

Frequently Asked Questions

Can I hold both PGOYX and VUG in my portfolio?

With a correlation of 0.97, PGOYX and VUG 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, PGOYX or VUG?

VUG has higher volatility (3.83%) compared to PGOYX (3.68%). In terms of maximum drawdown, PGOYX dropped -76.03% vs VUG's -50.68%.

Which has better risk-adjusted returns?

VUG currently has the higher Sharpe Ratio (1.77 vs 1.70), 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.