PMVAX vs. BFGFX

Last updated Apr 1, 2026

Compare and contrast key facts about Putnam Sustainable Future Fund (PMVAX) and Baron Focused Growth Fund (BFGFX).

PMVAX is managed by Putnam. It was launched on Nov 1, 1999. BFGFX is managed by Baron Capital Group, Inc.. It was launched on Jun 30, 2008.

Performance

PMVAX vs. BFGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Sustainable Future Fund (PMVAX) and Baron Focused Growth Fund (BFGFX). The values are adjusted to include any dividend payments, if applicable.

PMVAX vs. BFGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMVAX Putnam Sustainable Future Fund	-10.75%	2.64%	14.87%	28.60%	-33.93%	5.99%	52.93%	29.77%	-7.08%	10.61%
BFGFX Baron Focused Growth Fund	-7.28%	21.94%	29.52%	27.40%	-28.21%	18.67%	122.38%	30.05%	3.76%	26.36%

Returns By Period

In the year-to-date period, PMVAX achieves a -10.75% return, which is significantly lower than BFGFX's -7.28% return. Over the past 10 years, PMVAX has underperformed BFGFX with an annualized return of 7.85%, while BFGFX has yielded a comparatively higher 19.86% annualized return.

PMVAX

• 1D: -0.93%
• 1M: -8.87%
• YTD: -10.75%
• 6M: -12.14%
• 1Y: 2.78%
• 3Y*: 7.60%
• 5Y*: -1.52%
• 10Y*: 7.85%

BFGFX

• 1D: 0.02%
• 1M: -7.79%
• YTD: -7.28%
• 6M: 4.10%
• 1Y: 22.91%
• 3Y*: 17.72%
• 5Y*: 9.71%
• 10Y*: 19.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMVAX vs. BFGFX - Expense Ratio Comparison

PMVAX has a 1.00% expense ratio, which is lower than BFGFX's 1.32% expense ratio.

BFGFX

Baron Focused Growth Fund

PMVAX

Putnam Sustainable Future Fund

Return for Risk

PMVAX vs. BFGFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PMVAX

PMVAX Risk / Return Rank: 7
PMVAX Sharpe Ratio Rank: 7
PMVAX Sortino Ratio Rank: 8
PMVAX Omega Ratio Rank: 7
PMVAX Calmar Ratio Rank: 7
PMVAX Martin Ratio Rank: 6

BFGFX

BFGFX Risk / Return Rank: 71
BFGFX Sharpe Ratio Rank: 61
BFGFX Sortino Ratio Rank: 77
BFGFX Omega Ratio Rank: 67
BFGFX Calmar Ratio Rank: 78
BFGFX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PMVAX vs. BFGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Sustainable Future Fund (PMVAX) and Baron Focused Growth Fund (BFGFX). 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.

	PMVAX	BFGFX	Difference
Sharpe ratio Return per unit of total volatility	0.11	1.07	-0.95
Sortino ratio Return per unit of downside risk	0.32	1.90	-1.58
Omega ratio Gain probability vs. loss probability	1.04	1.25	-0.20
Calmar ratio Return relative to maximum drawdown	0.02	1.82	-1.80
Martin ratio Return relative to average drawdown	0.06	6.88	-6.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMVAX vs. BFGFX - Sharpe Ratio Comparison

The current PMVAX Sharpe Ratio is 0.11, which is lower than the BFGFX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of PMVAX and BFGFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PMVAX	BFGFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	1.07	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.43	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.83	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.68	-0.27

Correlation

The correlation between PMVAX and BFGFX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PMVAX vs. BFGFX - Dividend Comparison

PMVAX's dividend yield for the trailing twelve months is around 15.96%, while BFGFX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMVAX Putnam Sustainable Future Fund	15.96%	14.24%	12.53%	0.00%	0.00%	16.32%	10.06%	2.67%	31.09%	4.49%	2.25%	8.33%
BFGFX Baron Focused Growth Fund	0.00%	0.00%	0.00%	0.00%	12.28%	15.53%	2.85%	1.78%	1.07%	2.11%	6.02%	5.80%

Drawdowns

PMVAX vs. BFGFX - Drawdown Comparison

The maximum PMVAX drawdown since its inception was -61.94%, roughly equal to the maximum BFGFX drawdown of -59.52%. Use the drawdown chart below to compare losses from any high point for PMVAX and BFGFX.

Drawdown Indicators

	PMVAX	BFGFX	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-59.52%	-2.42%
Max Drawdown (1Y) Largest decline over 1 year	-14.96%	-11.95%	-3.01%
Max Drawdown (5Y) Largest decline over 5 years	-44.20%	-35.93%	-8.27%
Max Drawdown (10Y) Largest decline over 10 years	-44.20%	-43.62%	-0.58%
Current Drawdown Current decline from peak	-20.48%	-9.72%	-10.76%
Average Drawdown Average peak-to-trough decline	-11.00%	-12.43%	+1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	3.16%	+1.61%

Volatility

PMVAX vs. BFGFX - Volatility Comparison

Putnam Sustainable Future Fund (PMVAX) has a higher volatility of 5.58% compared to Baron Focused Growth Fund (BFGFX) at 4.23%. This indicates that PMVAX's price experiences larger fluctuations and is considered to be riskier than BFGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMVAX	BFGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	4.23%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	12.03%	15.64%	-3.61%
Volatility (1Y) Calculated over the trailing 1-year period	21.74%	22.97%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.23%	22.56%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.37%	23.94%	-3.57%