PHYIX vs. PGOYX
PHYIX (Putnam High Yield Fund) and PGOYX (Putnam Large Cap Growth Y) are both mutual funds - PHYIX is a High Yield Bonds fund managed by Putnam, while PGOYX is a Large Cap Growth Equities fund managed by Putnam. Over the past 10 years, PHYIX returned 5.38%/yr vs 18.59%/yr for PGOYX. At a 0.32 correlation, their price movements are largely independent. PHYIX charges 1.01%/yr vs 0.65%/yr for PGOYX.
Performance
PHYIX vs. PGOYX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PHYIX achieves a 1.82% return, which is significantly lower than PGOYX's 2.94% return. Over the past 10 years, PHYIX has underperformed PGOYX with an annualized return of 5.38%, while PGOYX has yielded a comparatively higher 18.59% annualized return.
PHYIX
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 1.82%
- 6M
- 1.93%
- 1Y
- 6.37%
- 3Y*
- 8.68%
- 5Y*
- 4.28%
- 10Y*
- 5.38%
PGOYX
- 1D
- -0.05%
- 1M
- -4.07%
- YTD
- 2.94%
- 6M
- 1.47%
- 1Y
- 15.15%
- 3Y*
- 21.04%
- 5Y*
- 11.94%
- 10Y*
- 18.59%
PHYIX vs. PGOYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHYIX Putnam High Yield Fund | 1.82% | 8.57% | 7.87% | 11.95% | -11.85% | 8.32% | 5.50% | 14.02% | -3.75% | 6.76% |
PGOYX Putnam Large Cap Growth Y | 2.94% | 14.56% | 33.58% | 44.57% | -30.25% | 22.95% | 38.79% | 36.76% | 2.58% | 31.29% |
Correlation
The correlation between PHYIX and PGOYX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1999 | 0.32 |
Over the past year, PHYIX and PGOYX have become more correlated (0.54) than their long-term average of 0.32, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PHYIX vs. PGOYX — Risk / Return Rank
PHYIX
PGOYX
PHYIX vs. PGOYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam High Yield Fund (PHYIX) and Putnam Large Cap Growth Y (PGOYX). 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.
| PHYIX | PGOYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.17 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 0.95 | +1.31 |
| Martin ratioReturn relative to average drawdown | 11.83 | 3.09 | +8.73 |
Loading charts...
Drawdowns
PHYIX vs. PGOYX - Drawdown Comparison
The maximum PHYIX drawdown since its inception was -31.29%, smaller than the maximum PGOYX drawdown of -76.03%. Use the drawdown chart below to compare losses from any high point for PHYIX and PGOYX.
Loading charts...
Drawdown Indicators
| PHYIX | PGOYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.29% | -76.03% | +44.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -16.34% | +13.53% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -23.63% | +19.36% |
Max Drawdown (5Y)Largest decline over 5 years | -15.22% | -34.01% | +18.79% |
Max Drawdown (10Y)Largest decline over 10 years | -21.00% | -34.01% | +13.01% |
Current DrawdownCurrent decline from peak | -0.37% | -6.22% | +5.85% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -31.47% | +26.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 5.00% | -4.46% |
Volatility
PHYIX vs. PGOYX - Volatility Comparison
The current volatility for Putnam High Yield Fund (PHYIX) is 0.80%, while Putnam Large Cap Growth Y (PGOYX) has a volatility of 6.59%. This indicates that PHYIX experiences smaller price fluctuations and is considered to be less risky than PGOYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PHYIX | PGOYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 6.59% | -5.79% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 13.14% | -10.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 16.89% | -13.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.04% | 21.81% | -16.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.25% | 21.25% | -16.00% |
PHYIX vs. PGOYX - Expense Ratio Comparison
PHYIX has a 1.01% expense ratio, which is higher than PGOYX's 0.65% expense ratio.
Dividends
PHYIX vs. PGOYX - Dividend Comparison
PHYIX's dividend yield for the trailing twelve months is around 5.07%, which matches PGOYX's 5.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGOYX Putnam Large Cap Growth Y | 5.08% | 5.23% | 4.25% | 0.46% | 7.30% | 8.55% | 3.12% | 3.65% | 7.92% | 2.05% | 0.02% | 5.78% |
PHYIX Putnam High Yield Fund | 5.07% | 5.92% | 7.84% | 5.46% | 5.04% | 7.41% | 4.56% | 4.89% | 5.30% | 5.16% | 5.54% | 5.53% |
Frequently Asked Questions
PHYIX and PGOYX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGOYX has higher volatility (6.59%) compared to PHYIX (0.80%). In terms of maximum drawdown, PHYIX dropped -31.29% vs PGOYX's -76.03%.
PHYIX currently has the higher Sharpe Ratio (2.08 vs 0.92), 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.
Find the right allocation for PHYIX and PGOYX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer