PMOTX vs. SPY
Compare and contrast key facts about Putnam Mortgage Opportunities Fund (PMOTX) and State Street SPDR S&P 500 ETF (SPY).
PMOTX is managed by Putnam. It was launched on Apr 6, 2015. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
PMOTX vs. SPY - Performance Comparison
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PMOTX vs. SPY - 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% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, PMOTX achieves a 2.63% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, PMOTX has underperformed SPY with an annualized return of 4.33%, while SPY has yielded a comparatively higher 13.98% annualized return.
PMOTX
- 1D
- 0.00%
- 1M
- 1.01%
- YTD
- 2.63%
- 6M
- 2.29%
- 1Y
- 5.17%
- 3Y*
- 7.85%
- 5Y*
- 4.12%
- 10Y*
- 4.33%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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PMOTX vs. SPY - Expense Ratio Comparison
PMOTX has a 0.47% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
PMOTX vs. SPY — Risk / Return Rank
PMOTX
SPY
PMOTX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Mortgage Opportunities Fund (PMOTX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.66 | 0.93 | +0.73 |
Sortino ratioReturn per unit of downside risk | 2.23 | 1.45 | +0.77 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.22 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 3.54 | 1.53 | +2.02 |
Martin ratioReturn relative to average drawdown | 11.03 | 7.30 | +3.73 |
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 | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 0.93 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.18 | 0.69 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | 0.78 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.56 | +0.26 |
Correlation
The correlation between PMOTX and SPY 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. SPY - Dividend Comparison
PMOTX's dividend yield for the trailing twelve months is around 4.23%, more than SPY's 1.14% 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% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
PMOTX vs. SPY - Drawdown Comparison
The maximum PMOTX drawdown since its inception was -17.57%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PMOTX and SPY.
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Drawdown Indicators
| PMOTX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.57% | -55.19% | +37.62% |
Max Drawdown (1Y)Largest decline over 1 year | -1.56% | -12.05% | +10.49% |
Max Drawdown (5Y)Largest decline over 5 years | -6.67% | -24.50% | +17.83% |
Max Drawdown (10Y)Largest decline over 10 years | -17.57% | -33.72% | +16.15% |
Current DrawdownCurrent decline from peak | 0.00% | -6.24% | +6.24% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -9.09% | +6.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 2.52% | -2.02% |
Volatility
PMOTX vs. SPY - Volatility Comparison
The current volatility for Putnam Mortgage Opportunities Fund (PMOTX) is 1.17%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that PMOTX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMOTX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 5.31% | -4.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 9.47% | -6.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.23% | 19.05% | -15.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.52% | 17.06% | -13.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.72% | 17.92% | -13.20% |