PMOTX vs. PNSAX
PMOTX (Putnam Mortgage Opportunities Fund) and PNSAX (Putnam Small Cap Growth Fund) are both mutual funds - PMOTX is a Nontraditional Bonds fund managed by Putnam, while PNSAX is a Small Cap Growth Equities fund managed by Putnam. Over the past 10 years, PMOTX returned 4.19%/yr vs 14.93%/yr for PNSAX. Their 0.17 correlation means their historical movements had little consistent relationship. PMOTX charges 0.47%/yr vs 1.23%/yr for PNSAX.
Performance
PMOTX vs. PNSAX - Performance Comparison
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Returns By Period
In the year-to-date period, PMOTX achieves a 5.66% return, which is significantly lower than PNSAX's 16.15% return. Over the past 10 years, PMOTX has underperformed PNSAX with an annualized return of 4.19%, while PNSAX has yielded a comparatively higher 14.93% annualized return.
PMOTX
- 1D
- 0.11%
- 1M
- -0.03%
- 6M
- 5.12%
- YTD
- 5.66%
- 1Y
- 5.69%
- 3Y*
- 7.72%
- 5Y*
- 5.56%
- 10Y*
- 4.19%
- ALL TIME*
- 4.01%
PNSAX
- 1D
- 3.67%
- 1M
- -4.68%
- 6M
- 10.87%
- YTD
- 16.15%
- 1Y
- 22.94%
- 3Y*
- 17.06%
- 5Y*
- 7.81%
- 10Y*
- 14.93%
- ALL TIME*
- 11.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PMOTX vs. PNSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMOTX Putnam Mortgage Opportunities Fund | 5.66% | 3.83% | 10.08% | 6.71% | 4.33% | -3.63% | -6.27% | 12.02% | 3.12% | 6.13% |
PNSAX Putnam Small Cap Growth Fund | 16.15% | 8.91% | 22.98% | 22.87% | -28.10% | 14.38% | 47.65% | 37.60% | -2.46% | 20.19% |
Correlation
The correlation between PMOTX and PNSAX is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.17 |
The correlation between PMOTX and PNSAX shifts across timeframes, from -0.05 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PMOTX vs. PNSAX — Risk / Return Rank
PMOTX
PNSAX
PMOTX vs. PNSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Mortgage Opportunities Fund (PMOTX) and Putnam Small Cap Growth Fund (PNSAX). 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 | PNSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.15 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 1.41 | +2.58 |
| Martin ratioReturn relative to average drawdown | 13.29 | 4.27 | +9.02 |
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Drawdowns
PMOTX vs. PNSAX - Drawdown Comparison
The maximum PMOTX drawdown since its inception was -17.57%, smaller than the maximum PNSAX drawdown of -69.47%. Use the drawdown chart below to compare losses from any high point for PMOTX and PNSAX.
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Drawdown Indicators
| PMOTX | PNSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.57% | -69.47% | +51.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.56% | -14.00% | +12.44% |
Max Drawdown (3Y)Largest decline over 3 years | -1.77% | -26.25% | +24.48% |
Max Drawdown (5Y)Largest decline over 5 years | -3.58% | -38.77% | +35.19% |
Max Drawdown (10Y)Largest decline over 10 years | -17.57% | -38.77% | +21.20% |
Current DrawdownCurrent decline from peak | -0.03% | -9.57% | +9.54% |
Average DrawdownAverage peak-to-trough decline | -2.95% | -23.45% | +20.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 4.61% | -4.14% |
Volatility
PMOTX vs. PNSAX - Volatility Comparison
The current volatility for Putnam Mortgage Opportunities Fund (PMOTX) is 0.52%, while Putnam Small Cap Growth Fund (PNSAX) has a volatility of 8.02%. This indicates that PMOTX experiences smaller price fluctuations and is considered to be less risky than PNSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMOTX | PNSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 8.02% | -7.50% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 20.84% | -18.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 25.20% | -22.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.47% | 23.68% | -20.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.72% | 23.74% | -19.02% |
PMOTX vs. PNSAX - Expense Ratio Comparison
PMOTX has a 0.47% expense ratio, which is lower than PNSAX's 1.23% expense ratio.
Dividends
PMOTX vs. PNSAX - Dividend Comparison
PMOTX's dividend yield for the trailing twelve months is around 3.61%, more than PNSAX's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PMOTX Putnam Mortgage Opportunities Fund | 3.61% | 4.26% | 6.11% | 7.73% | 5.17% | 4.72% | 3.64% | 6.83% | 5.94% | 0.77% | 0.00% |
PNSAX Putnam Small Cap Growth Fund | 0.37% | 0.42% | 0.00% | 0.00% | 0.00% | 15.27% | 4.87% | 1.93% | 1.88% | 0.00% | 0.00% |
Frequently Asked Questions
PMOTX and PNSAX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNSAX has higher volatility (8.02%) compared to PMOTX (0.52%). In terms of maximum drawdown, PMOTX dropped -17.57% vs PNSAX's -69.47%.
PMOTX currently has the higher Sharpe Ratio (2.02 vs 0.78), 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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