PGSIX vs. CTRIX
PGSIX (Putnam Mortgage Securities Fund) and CTRIX (Calamos Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, PGSIX returned 1.40%/yr vs 1.27%/yr for CTRIX. Their 0.50 correlation means they have sometimes moved together and sometimes differently. PGSIX charges 0.89%/yr vs 0.65%/yr for CTRIX.
Performance
PGSIX vs. CTRIX - Performance Comparison
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Returns By Period
In the year-to-date period, PGSIX achieves a 2.29% return, which is significantly higher than CTRIX's -0.97% return. Over the past 10 years, PGSIX has outperformed CTRIX with an annualized return of 1.40%, while CTRIX has yielded a comparatively lower 1.27% annualized return.
PGSIX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- 1.65%
- YTD
- 2.29%
- 1Y
- 5.66%
- 3Y*
- 6.12%
- 5Y*
- 0.85%
- 10Y*
- 1.40%
- ALL TIME*
- 3.85%
CTRIX
- 1D
- 0.00%
- 1M
- -1.22%
- 6M
- -1.26%
- YTD
- -0.97%
- 1Y
- 1.54%
- 3Y*
- 3.39%
- 5Y*
- -0.56%
- 10Y*
- 1.27%
- ALL TIME*
- 2.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PGSIX vs. CTRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGSIX Putnam Mortgage Securities Fund | 2.29% | 9.36% | 3.52% | 3.66% | -10.79% | -4.31% | -0.73% | 12.39% | -0.79% | 0.82% |
CTRIX Calamos Total Return Bond Fund | -0.97% | 7.31% | 1.49% | 4.78% | -12.91% | -1.27% | 6.97% | 9.24% | -1.10% | 3.32% |
Correlation
The correlation between PGSIX and CTRIX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2007 | 0.50 |
Over the past year, PGSIX and CTRIX have become more correlated (0.73) than their long-term average of 0.50, meaning their price movements have been converging.
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Return for Risk
PGSIX vs. CTRIX — Risk / Return Rank
PGSIX
CTRIX
PGSIX vs. CTRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Mortgage Securities Fund (PGSIX) and Calamos Total Return Bond Fund (CTRIX). 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.
| PGSIX | CTRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.13 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 0.96 | +1.56 |
| Martin ratioReturn relative to average drawdown | 8.31 | 2.41 | +5.90 |
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Drawdowns
PGSIX vs. CTRIX - Drawdown Comparison
The maximum PGSIX drawdown since its inception was -22.28%, which is greater than CTRIX's maximum drawdown of -17.84%. Use the drawdown chart below to compare losses from any high point for PGSIX and CTRIX.
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Drawdown Indicators
| PGSIX | CTRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.28% | -17.84% | -4.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -2.79% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.35% | -5.35% | -1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -19.01% | -17.84% | -1.17% |
Max Drawdown (10Y)Largest decline over 10 years | -22.28% | -17.84% | -4.44% |
Current DrawdownCurrent decline from peak | -1.25% | -2.97% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -2.60% | -3.03% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 1.11% | -0.25% |
Volatility
PGSIX vs. CTRIX - Volatility Comparison
Putnam Mortgage Securities Fund (PGSIX) has a higher volatility of 1.30% compared to Calamos Total Return Bond Fund (CTRIX) at 0.89%. This indicates that PGSIX's price experiences larger fluctuations and is considered to be riskier than CTRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGSIX | CTRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 0.89% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 2.93% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.98% | 3.69% | +1.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.03% | 5.55% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.97% | 4.60% | +1.37% |
PGSIX vs. CTRIX - Expense Ratio Comparison
PGSIX has a 0.89% expense ratio, which is higher than CTRIX's 0.65% expense ratio.
Dividends
PGSIX vs. CTRIX - Dividend Comparison
PGSIX's dividend yield for the trailing twelve months is around 4.77%, more than CTRIX's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CTRIX Calamos Total Return Bond Fund | 3.27% | 3.90% | 3.63% | 2.61% | 2.71% | 3.46% | 2.42% | 2.79% | 2.89% | 3.29% | 2.76% | 4.68% |
PGSIX Putnam Mortgage Securities Fund | 4.77% | 5.67% | 16.88% | 8.38% | 12.83% | 4.30% | 4.21% | 4.50% | 3.94% | 3.10% | 2.92% | 2.51% |
Frequently Asked Questions
PGSIX and CTRIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGSIX has higher volatility (1.30%) compared to CTRIX (0.89%). In terms of maximum drawdown, PGSIX dropped -22.28% vs CTRIX's -17.84%.
PGSIX currently has the higher Sharpe Ratio (1.45 vs 0.72), 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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