PGTYX vs. IAU
PGTYX (Putnam Global Technology Fund) and IAU (iShares Gold Trust) are both funds - PGTYX is a Technology Equities fund managed by Putnam, while IAU is a Gold fund tracking the LBMA Gold Price. Over the past 10 years, PGTYX returned 25.84%/yr vs 12.97%/yr for IAU. At a 0.06 correlation, their price movements are largely independent. PGTYX charges 0.62%/yr vs 0.25%/yr for IAU.
Performance
PGTYX vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, PGTYX achieves a 40.83% return, which is significantly higher than IAU's 0.06% return. Over the past 10 years, PGTYX has outperformed IAU with an annualized return of 25.84%, while IAU has yielded a comparatively lower 12.97% annualized return.
PGTYX
- 1D
- -0.79%
- 1M
- 13.61%
- YTD
- 40.83%
- 6M
- 39.59%
- 1Y
- 69.20%
- 3Y*
- 36.64%
- 5Y*
- 19.50%
- 10Y*
- 25.84%
IAU
- 1D
- -3.63%
- 1M
- -8.61%
- YTD
- 0.06%
- 6M
- 2.63%
- 1Y
- 30.01%
- 3Y*
- 29.73%
- 5Y*
- 17.65%
- 10Y*
- 12.97%
PGTYX vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGTYX Putnam Global Technology Fund | 40.83% | 23.31% | 27.88% | 53.82% | -32.30% | 11.72% | 70.92% | 47.50% | -6.72% | 47.05% |
IAU iShares Gold Trust | 0.06% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between PGTYX and IAU is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2008 | 0.06 |
The correlation between PGTYX and IAU shifts across timeframes, from 0.06 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PGTYX vs. IAU — Risk / Return Rank
PGTYX
IAU
PGTYX vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Global Technology Fund (PGTYX) and iShares Gold Trust (IAU). 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.
| PGTYX | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.14 | ||
| Sortino ratioReturn per unit of downside risk | +2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.22 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 5.22 | 1.42 | +3.80 |
| Martin ratioReturn relative to average drawdown | 16.64 | 3.60 | +13.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PGTYX | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.20 | 1.07 | +2.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 0.98 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.82 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.96 | 0.61 | +0.35 |
Drawdowns
PGTYX vs. IAU - Drawdown Comparison
The maximum PGTYX drawdown since its inception was -42.09%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for PGTYX and IAU.
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Drawdown Indicators
| PGTYX | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.09% | -45.14% | +3.05% |
Max Drawdown (1Y)Largest decline over 1 year | -13.58% | -20.04% | +6.46% |
Max Drawdown (3Y)Largest decline over 3 years | -28.36% | -20.04% | -8.32% |
Max Drawdown (5Y)Largest decline over 5 years | -42.09% | -20.93% | -21.16% |
Max Drawdown (10Y)Largest decline over 10 years | -42.09% | -21.82% | -20.27% |
Current DrawdownCurrent decline from peak | -2.40% | -20.04% | +17.64% |
Average DrawdownAverage peak-to-trough decline | -6.61% | -15.97% | +9.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.25% | 7.89% | -3.64% |
Volatility
PGTYX vs. IAU - Volatility Comparison
Putnam Global Technology Fund (PGTYX) has a higher volatility of 8.29% compared to iShares Gold Trust (IAU) at 5.64%. This indicates that PGTYX's price experiences larger fluctuations and is considered to be riskier than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGTYX | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.29% | 5.64% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 17.84% | 23.33% | -5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.14% | 26.67% | -4.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.98% | 18.01% | +6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.11% | 15.94% | +8.17% |
PGTYX vs. IAU - Expense Ratio Comparison
PGTYX has a 0.62% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
PGTYX vs. IAU - Dividend Comparison
PGTYX's dividend yield for the trailing twelve months is around 7.69%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PGTYX Putnam Global Technology Fund | 7.69% | 10.83% | 6.40% | 0.57% | 1.71% | 21.15% | 13.60% | 2.63% | 9.44% | 6.75% | 1.01% | 4.56% |
Frequently Asked Questions
PGTYX and IAU have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGTYX has higher volatility (8.29%) compared to IAU (5.64%). In terms of maximum drawdown, PGTYX dropped -42.09% vs IAU's -45.14%.
PGTYX currently has the higher Sharpe Ratio (3.20 vs 1.07), 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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