PMOTX vs. RBSIX
PMOTX (Putnam Mortgage Opportunities Fund) and RBSIX (RBC BlueBay Strategic Income Fund) are both Nontraditional Bonds funds. Over the past 3 years, PMOTX returned 8.14%/yr vs 7.58%/yr for RBSIX. At a 0.12 correlation, their price movements are largely independent. PMOTX charges 0.47%/yr vs 0.63%/yr for RBSIX.
Performance
PMOTX vs. RBSIX - Performance Comparison
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Returns By Period
In the year-to-date period, PMOTX achieves a 5.03% return, which is significantly higher than RBSIX's 1.03% 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%
RBSIX
- 1D
- 0.00%
- 1M
- 0.07%
- YTD
- 1.03%
- 6M
- 1.13%
- 1Y
- 5.32%
- 3Y*
- 7.58%
- 5Y*
- —
- 10Y*
- —
PMOTX vs. RBSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PMOTX Putnam Mortgage Opportunities Fund | 5.03% | 3.83% | 10.08% | 6.71% | 4.33% | -2.88% |
RBSIX RBC BlueBay Strategic Income Fund | 1.03% | 5.50% | 9.33% | 9.74% | 0.35% | -0.21% |
Correlation
The correlation between PMOTX and RBSIX is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.12 |
The correlation between PMOTX and RBSIX shifts across timeframes, from -0.02 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PMOTX vs. RBSIX — Risk / Return Rank
PMOTX
RBSIX
PMOTX vs. RBSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Mortgage Opportunities Fund (PMOTX) and RBC BlueBay Strategic Income Fund (RBSIX). 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 | RBSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.87 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 3.91 | +0.22 |
| Martin ratioReturn relative to average drawdown | 13.64 | 13.22 | +0.42 |
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Drawdowns
PMOTX vs. RBSIX - Drawdown Comparison
The maximum PMOTX drawdown since its inception was -17.57%, which is greater than RBSIX's maximum drawdown of -4.09%. Use the drawdown chart below to compare losses from any high point for PMOTX and RBSIX.
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Drawdown Indicators
| PMOTX | RBSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.57% | -4.09% | -13.48% |
Max Drawdown (1Y)Largest decline over 1 year | -1.56% | -1.37% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -1.77% | -4.09% | +2.32% |
Max Drawdown (5Y)Largest decline over 5 years | -4.34% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.57% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.22% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -0.77% | -2.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.40% | +0.07% |
Volatility
PMOTX vs. RBSIX - Volatility Comparison
Putnam Mortgage Opportunities Fund (PMOTX) has a higher volatility of 1.17% compared to RBC BlueBay Strategic Income Fund (RBSIX) at 0.36%. This indicates that PMOTX's price experiences larger fluctuations and is considered to be riskier than RBSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMOTX | RBSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.36% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 1.09% | +1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.10% | 1.52% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.49% | 3.52% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 3.52% | +1.21% |
PMOTX vs. RBSIX - Expense Ratio Comparison
PMOTX has a 0.47% expense ratio, which is lower than RBSIX's 0.63% expense ratio.
Dividends
PMOTX vs. RBSIX - Dividend Comparison
PMOTX's dividend yield for the trailing twelve months is around 3.70%, less than RBSIX's 5.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
RBSIX RBC BlueBay Strategic Income Fund | 5.84% | 5.31% | 4.46% | 7.65% | 5.37% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMOTX and RBSIX have a correlation of -0.02, 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 RBSIX (0.36%). In terms of maximum drawdown, PMOTX dropped -17.57% vs RBSIX's -4.09%.
RBSIX currently has the higher Sharpe Ratio (3.53 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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