PMOTX vs. PNRAX
Compare and contrast key facts about Putnam Mortgage Opportunities Fund (PMOTX) and Putnam Research Fund (PNRAX).
PMOTX is managed by Putnam. It was launched on Apr 6, 2015. PNRAX is managed by Putnam. It was launched on Oct 2, 1995.
Performance
PMOTX vs. PNRAX - Performance Comparison
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PMOTX vs. PNRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMOTX Putnam Mortgage Opportunities Fund | 2.63% | 3.83% | 10.08% | 6.71% | 4.33% | -3.63% | -6.27% | 12.02% | 3.12% | 6.13% |
PNRAX Putnam Research Fund | -3.29% | 18.11% | 26.21% | 28.83% | -17.45% | 24.32% | 20.01% | 32.83% | -4.81% | 23.19% |
Returns By Period
In the year-to-date period, PMOTX achieves a 2.63% return, which is significantly higher than PNRAX's -3.29% return. Over the past 10 years, PMOTX has underperformed PNRAX with an annualized return of 4.33%, while PNRAX has yielded a comparatively higher 14.63% annualized return.
PMOTX
- 1D
- 0.00%
- 1M
- 0.67%
- YTD
- 2.63%
- 6M
- 1.95%
- 1Y
- 4.94%
- 3Y*
- 7.85%
- 5Y*
- 4.12%
- 10Y*
- 4.33%
PNRAX
- 1D
- 3.01%
- 1M
- -4.49%
- YTD
- -3.29%
- 6M
- -0.60%
- 1Y
- 20.82%
- 3Y*
- 20.08%
- 5Y*
- 12.29%
- 10Y*
- 14.63%
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PMOTX vs. PNRAX - Expense Ratio Comparison
PMOTX has a 0.47% expense ratio, which is lower than PNRAX's 1.03% expense ratio.
Return for Risk
PMOTX vs. PNRAX — Risk / Return Rank
PMOTX
PNRAX
PMOTX vs. PNRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Mortgage Opportunities Fund (PMOTX) and Putnam Research Fund (PNRAX). 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.
| PMOTX | PNRAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.62 | 1.15 | +0.47 |
Sortino ratioReturn per unit of downside risk | 2.18 | 1.71 | +0.47 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.27 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 3.47 | 1.78 | +1.69 |
Martin ratioReturn relative to average drawdown | 10.80 | 8.70 | +2.09 |
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
| PMOTX | PNRAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 1.15 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.18 | 0.72 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | 0.82 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.46 | +0.36 |
Correlation
The correlation between PMOTX and PNRAX is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PMOTX vs. PNRAX - Dividend Comparison
PMOTX's dividend yield for the trailing twelve months is around 4.23%, less than PNRAX's 11.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMOTX Putnam Mortgage Opportunities Fund | 4.23% | 4.26% | 6.11% | 7.73% | 5.17% | 4.72% | 3.64% | 6.83% | 5.94% | 0.77% | 0.00% | 0.00% |
PNRAX Putnam Research Fund | 11.88% | 11.49% | 7.57% | 0.28% | 9.46% | 7.67% | 2.02% | 7.24% | 15.09% | 1.57% | 1.06% | 1.19% |
Drawdowns
PMOTX vs. PNRAX - Drawdown Comparison
The maximum PMOTX drawdown since its inception was -17.57%, smaller than the maximum PNRAX drawdown of -57.49%. Use the drawdown chart below to compare losses from any high point for PMOTX and PNRAX.
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Drawdown Indicators
| PMOTX | PNRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.57% | -57.49% | +39.92% |
Max Drawdown (1Y)Largest decline over 1 year | -1.56% | -12.28% | +10.72% |
Max Drawdown (5Y)Largest decline over 5 years | -6.67% | -24.37% | +17.70% |
Max Drawdown (10Y)Largest decline over 10 years | -17.57% | -33.35% | +15.78% |
Current DrawdownCurrent decline from peak | 0.00% | -5.47% | +5.47% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -12.11% | +9.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 2.51% | -2.01% |
Volatility
PMOTX vs. PNRAX - Volatility Comparison
The current volatility for Putnam Mortgage Opportunities Fund (PMOTX) is 1.13%, while Putnam Research Fund (PNRAX) has a volatility of 5.44%. This indicates that PMOTX experiences smaller price fluctuations and is considered to be less risky than PNRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMOTX | PNRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 5.44% | -4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 9.74% | -7.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.22% | 18.57% | -15.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.52% | 17.09% | -13.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.72% | 17.95% | -13.23% |