PMOTX vs. EGRIX
PMOTX (Putnam Mortgage Opportunities Fund) and EGRIX (Eaton Vance Global Macro Absolute Return Advantage Fund) are both Nontraditional Bonds funds. Over the past 10 years, PMOTX returned 4.39%/yr vs 6.65%/yr for EGRIX. At a 0.10 correlation, their price movements are largely independent. PMOTX charges 0.47%/yr vs 1.05%/yr for EGRIX.
Performance
PMOTX vs. EGRIX - Performance Comparison
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Returns By Period
In the year-to-date period, PMOTX achieves a 5.03% return, which is significantly lower than EGRIX's 7.78% return. Over the past 10 years, PMOTX has underperformed EGRIX with an annualized return of 4.39%, while EGRIX has yielded a comparatively higher 6.65% annualized return.
PMOTX
- 1D
- -0.11%
- 1M
- 1.25%
- YTD
- 5.03%
- 6M
- 3.74%
- 1Y
- 6.29%
- 3Y*
- 8.14%
- 5Y*
- 4.97%
- 10Y*
- 4.39%
EGRIX
- 1D
- 0.00%
- 1M
- 1.69%
- YTD
- 7.78%
- 6M
- 8.74%
- 1Y
- 20.32%
- 3Y*
- 13.48%
- 5Y*
- 8.91%
- 10Y*
- 6.65%
PMOTX vs. EGRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMOTX Putnam Mortgage Opportunities Fund | 5.03% | 3.83% | 10.08% | 6.71% | 4.33% | -3.63% | -6.27% | 12.02% | 3.12% | 6.13% |
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 7.78% | 20.36% | 9.50% | 8.37% | -1.94% | 3.66% | 4.71% | 14.80% | -8.34% | 5.78% |
Correlation
The correlation between PMOTX and EGRIX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.10 |
The correlation between PMOTX and EGRIX shifts across timeframes, from -0.03 (3 years) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PMOTX vs. EGRIX — Risk / Return Rank
PMOTX
EGRIX
PMOTX vs. EGRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Mortgage Opportunities Fund (PMOTX) and Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX). 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.
| PMOTX | EGRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.61 | ||
| Sortino ratioReturn per unit of downside risk | -5.20 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 2.54 | -1.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 6.03 | -1.89 |
| Martin ratioReturn relative to average drawdown | 13.64 | 21.82 | -8.18 |
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Drawdowns
PMOTX vs. EGRIX - Drawdown Comparison
The maximum PMOTX drawdown since its inception was -17.57%, which is greater than EGRIX's maximum drawdown of -14.17%. Use the drawdown chart below to compare losses from any high point for PMOTX and EGRIX.
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Drawdown Indicators
| PMOTX | EGRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.57% | -14.17% | -3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.56% | -3.37% | +1.81% |
Max Drawdown (3Y)Largest decline over 3 years | -1.77% | -3.37% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -4.34% | -10.18% | +5.84% |
Max Drawdown (10Y)Largest decline over 10 years | -17.57% | -14.17% | -3.40% |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -1.83% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.93% | -0.46% |
Volatility
PMOTX vs. EGRIX - Volatility Comparison
Putnam Mortgage Opportunities Fund (PMOTX) has a higher volatility of 1.17% compared to Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX) at 0.72%. This indicates that PMOTX's price experiences larger fluctuations and is considered to be riskier than EGRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMOTX | EGRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.72% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 3.20% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.10% | 3.57% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.49% | 4.03% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 3.96% | +0.77% |
PMOTX vs. EGRIX - Expense Ratio Comparison
PMOTX has a 0.47% expense ratio, which is lower than EGRIX's 1.05% expense ratio.
Dividends
PMOTX vs. EGRIX - Dividend Comparison
PMOTX's dividend yield for the trailing twelve months is around 3.70%, less than EGRIX's 6.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 6.17% | 6.65% | 6.00% | 3.40% | 4.82% | 4.89% | 5.82% | 4.15% | 0.06% | 3.22% | 1.78% | 6.67% |
PMOTX Putnam Mortgage Opportunities Fund | 3.70% | 4.26% | 6.11% | 7.73% | 5.17% | 4.72% | 3.64% | 6.83% | 5.94% | 0.77% | 0.00% | 0.00% |
Frequently Asked Questions
PMOTX and EGRIX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMOTX has higher volatility (1.17%) compared to EGRIX (0.72%). In terms of maximum drawdown, PMOTX dropped -17.57% vs EGRIX's -14.17%.
EGRIX currently has the higher Sharpe Ratio (5.69 vs 2.08), 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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