PGTAX vs. POGAX

Last updated Jun 24, 2026

PGTAX (Putnam Global Technology Fund Class A) and POGAX (Putnam Growth Opportunities Fund) are both mutual funds - PGTAX is a Technology Equities fund tracking the MSCI ACWI Information Technology Index (NR), while POGAX is a Large Cap Growth Equities fund managed by Putnam. Over the past 10 years, PGTAX returned 25.90%/yr vs 18.55%/yr for POGAX. Their correlation of 0.92 suggests significant overlap in exposure. PGTAX charges 1.04%/yr vs 0.99%/yr for POGAX.

Performance

PGTAX vs. POGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Global Technology Fund Class A (PGTAX) and Putnam Growth Opportunities Fund (POGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGTAX achieves a 38.06% return, which is significantly higher than POGAX's 5.10% return. Over the past 10 years, PGTAX has outperformed POGAX with an annualized return of 25.90%, while POGAX has yielded a comparatively lower 18.55% annualized return.

PGTAX

• 1D: -0.10%
• 1M: 7.54%
• YTD: 38.06%
• 6M: 37.83%
• 1Y: 64.26%
• 3Y*: 34.50%
• 5Y*: 17.80%
• 10Y*: 25.90%

POGAX

• 1D: -1.00%
• 1M: -1.15%
• YTD: 5.10%
• 6M: 3.80%
• 1Y: 19.40%
• 3Y*: 21.62%
• 5Y*: 12.33%
• 10Y*: 18.55%

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

PGTAX vs. POGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGTAX Putnam Global Technology Fund Class A	38.06%	23.03%	27.57%	53.42%	-32.46%	11.44%	70.50%	47.20%	-6.96%	46.70%
POGAX Putnam Growth Opportunities Fund	5.10%	14.28%	33.22%	44.22%	-30.43%	22.64%	38.44%	36.44%	2.29%	30.97%

Correlation

The correlation between PGTAX and POGAX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 19, 2008	0.92

The correlation between PGTAX and POGAX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

PGTAX vs. POGAX — Risk / Return Rank

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

PGTAX

PGTAX Risk / Return Rank: 83
PGTAX Sharpe Ratio Rank: 89
PGTAX Sortino Ratio Rank: 73
PGTAX Omega Ratio Rank: 76
PGTAX Calmar Ratio Rank: 93
PGTAX Martin Ratio Rank: 83

POGAX

POGAX Risk / Return Rank: 19
POGAX Sharpe Ratio Rank: 22
POGAX Sortino Ratio Rank: 20
POGAX Omega Ratio Rank: 21
POGAX Calmar Ratio Rank: 15
POGAX Martin Ratio Rank: 17

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.

PGTAX vs. POGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Global Technology Fund Class A (PGTAX) and Putnam Growth Opportunities Fund (POGAX). 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.

	PGTAX	POGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.72	1.25	+1.47
Sortino ratio: Return per unit of downside risk	3.26	1.75	+1.51
Omega ratio: Gain probability vs. loss probability	1.45	1.23	+0.22
Calmar ratio: Return relative to maximum drawdown	4.83	1.28	+3.55
Martin ratio: Return relative to average drawdown	14.47	4.18	+10.29

PGTAX vs. POGAX - Sharpe Ratio Comparison

The current PGTAX Sharpe Ratio is 2.72, which is higher than the POGAX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of PGTAX and POGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PGTAX vs. POGAX - Drawdown Comparison

The maximum PGTAX drawdown since its inception was -42.21%, smaller than the maximum POGAX drawdown of -76.55%. Use the drawdown chart below to compare losses from any high point for PGTAX and POGAX.

Drawdown Indicators

	PGTAX	POGAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.21%	-76.55%	+34.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.67%	-16.42%	+2.75%
Max Drawdown (3Y) Largest decline over 3 years	-28.42%	-23.66%	-4.76%
Max Drawdown (5Y) Largest decline over 5 years	-42.21%	-34.15%	-8.06%
Max Drawdown (10Y) Largest decline over 10 years	-42.21%	-34.15%	-8.06%
Current Drawdown Current decline from peak	-4.21%	-4.16%	-0.05%
Average Drawdown Average peak-to-trough decline	-6.67%	-28.99%	+22.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	5.01%	-0.46%

Volatility

PGTAX vs. POGAX - Volatility Comparison

Putnam Global Technology Fund Class A (PGTAX) has a higher volatility of 12.28% compared to Putnam Growth Opportunities Fund (POGAX) at 6.25%. This indicates that PGTAX's price experiences larger fluctuations and is considered to be riskier than POGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGTAX	POGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.28%	6.25%	+6.03%
Volatility (6M) Calculated over the trailing 6-month period	20.32%	13.12%	+7.20%
Volatility (1Y) Calculated over the trailing 1-year period	24.34%	16.82%	+7.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.39%	21.78%	+3.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.33%	21.28%	+3.05%

PGTAX vs. POGAX - Expense Ratio Comparison

PGTAX has a 1.04% expense ratio, which is higher than POGAX's 0.99% expense ratio.

Dividends

PGTAX vs. POGAX - Dividend Comparison

PGTAX's dividend yield for the trailing twelve months is around 8.30%, more than POGAX's 5.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGTAX Putnam Global Technology Fund Class A	8.30%	11.45%	6.71%	0.38%	1.52%	22.04%	14.04%	2.49%	9.37%	6.91%	0.83%	4.64%
POGAX Putnam Growth Opportunities Fund	5.41%	5.68%	4.58%	0.49%	7.80%	9.08%	3.29%	3.83%	7.98%	1.89%	0.01%	5.70%

Frequently Asked Questions

Can I hold both PGTAX and POGAX in my portfolio?

With a correlation of 0.91, PGTAX and POGAX 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, PGTAX or POGAX?

PGTAX has higher volatility (12.28%) compared to POGAX (6.25%). In terms of maximum drawdown, PGTAX dropped -42.21% vs POGAX's -76.55%.

Which has better risk-adjusted returns?

PGTAX currently has the higher Sharpe Ratio (2.72 vs 1.25), 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.