PMYAX vs. QCELX
PMYAX (Putnam Core Equity Fund Class A) and QCELX (AQR Large Cap Multi-Style Fund) are both Large Cap Blend Equities funds. Over the past 10 years, PMYAX returned 15.73%/yr vs 14.98%/yr for QCELX. Their 0.95 correlation means they have historically moved very closely together. PMYAX charges 0.95%/yr vs 0.41%/yr for QCELX.
Performance
PMYAX vs. QCELX - Performance Comparison
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Returns By Period
In the year-to-date period, PMYAX achieves a 9.78% return, which is significantly lower than QCELX's 20.18% return. Both investments have delivered pretty close results over the past 10 years, with PMYAX having a 15.73% annualized return and QCELX not far behind at 14.98%.
PMYAX
- 1D
- 1.44%
- 1M
- 2.37%
- 6M
- 8.56%
- YTD
- 9.78%
- 1Y
- 20.54%
- 3Y*
- 20.24%
- 5Y*
- 13.14%
- 10Y*
- 15.73%
- ALL TIME*
- 15.55%
QCELX
- 1D
- 1.13%
- 1M
- 3.38%
- 6M
- 16.03%
- YTD
- 20.18%
- 1Y
- 33.10%
- 3Y*
- 25.24%
- 5Y*
- 15.76%
- 10Y*
- 14.98%
- ALL TIME*
- 13.11%
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 |
PMYAX vs. QCELX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMYAX Putnam Core Equity Fund Class A | 9.78% | 17.03% | 26.14% | 27.66% | -16.14% | 30.57% | 17.43% | 32.19% | -8.15% | 23.67% |
QCELX AQR Large Cap Multi-Style Fund | 20.18% | 23.38% | 22.73% | 26.30% | -15.73% | 27.18% | 14.93% | 24.33% | -10.96% | 22.73% |
Correlation
The correlation between PMYAX and QCELX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.95 |
The correlation between PMYAX and QCELX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
PMYAX vs. QCELX — Risk / Return Rank
PMYAX
QCELX
PMYAX vs. QCELX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Core Equity Fund Class A (PMYAX) and AQR Large Cap Multi-Style Fund (QCELX). 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.
| PMYAX | QCELX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.46 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 4.46 | -2.23 |
| Martin ratioReturn relative to average drawdown | 9.41 | 18.86 | -9.46 |
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Drawdowns
PMYAX vs. QCELX - Drawdown Comparison
The maximum PMYAX drawdown since its inception was -35.29%, which is greater than QCELX's maximum drawdown of -33.52%. Use the drawdown chart below to compare losses from any high point for PMYAX and QCELX.
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Drawdown Indicators
| PMYAX | QCELX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.29% | -33.52% | -1.77% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -7.92% | -2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -18.94% | -18.38% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.65% | -28.70% | +5.05% |
Max Drawdown (10Y)Largest decline over 10 years | -35.29% | -33.52% | -1.77% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -5.60% | +1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 1.87% | +0.51% |
Volatility
PMYAX vs. QCELX - Volatility Comparison
Putnam Core Equity Fund Class A (PMYAX) has a higher volatility of 3.98% compared to AQR Large Cap Multi-Style Fund (QCELX) at 3.21%. This indicates that PMYAX's price experiences larger fluctuations and is considered to be riskier than QCELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMYAX | QCELX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.98% | 3.21% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 10.08% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 13.34% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 18.99% | -2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 18.97% | -0.60% |
PMYAX vs. QCELX - Expense Ratio Comparison
PMYAX has a 0.95% expense ratio, which is higher than QCELX's 0.41% expense ratio.
Dividends
PMYAX vs. QCELX - Dividend Comparison
PMYAX's dividend yield for the trailing twelve months is around 2.32%, less than QCELX's 11.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMYAX Putnam Core Equity Fund Class A | 2.32% | 2.55% | 4.24% | 2.39% | 5.01% | 9.06% | 2.21% | 4.59% | 2.38% | 2.49% | 0.95% | 1.03% |
QCELX AQR Large Cap Multi-Style Fund | 11.98% | 14.40% | 12.89% | 13.67% | 11.05% | 12.41% | 9.94% | 5.36% | 7.81% | 0.99% | 1.28% | 0.89% |
Frequently Asked Questions
With a correlation of 0.93, PMYAX and QCELX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PMYAX has higher volatility (3.98%) compared to QCELX (3.21%). In terms of maximum drawdown, PMYAX dropped -35.29% vs QCELX's -33.52%.
QCELX currently has the higher Sharpe Ratio (2.65 vs 1.75), 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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