PNOPX vs. FDSSX

Last updated Aug 4, 2026

PNOPX (Putnam Sustainable Leaders Fund) and FDSSX (Fidelity Stock Selector All Cap Fund) are both Large Cap Growth Equities funds. Over the past 10 years, PNOPX returned 14.66%/yr vs 15.00%/yr for FDSSX. Their correlation of 0.92 means they have usually moved in the same direction. PNOPX charges 0.99%/yr vs 0.68%/yr for FDSSX.

Performance

PNOPX vs. FDSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Sustainable Leaders Fund (PNOPX) and Fidelity Stock Selector All Cap Fund (FDSSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PNOPX achieves a 3.92% return, which is significantly lower than FDSSX's 15.33% return. Both investments have delivered pretty close results over the past 10 years, with PNOPX having a 14.66% annualized return and FDSSX not far ahead at 15.00%.

PNOPX

• 1D: 0.55%
• 1M: 0.42%
• 6M: 4.90%
• YTD: 3.92%
• 1Y: 14.41%
• 3Y*: 15.09%
• 5Y*: 7.68%
• 10Y*: 14.66%
• ALL TIME*: 12.00%

FDSSX

• 1D: 0.73%
• 1M: -0.07%
• 6M: 11.74%
• YTD: 15.33%
• 1Y: 29.29%
• 3Y*: 20.09%
• 5Y*: 12.16%
• 10Y*: 15.00%
• ALL TIME*: 11.48%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDSSX Fidelity Stock Selector All Cap Fund	$0.00	$0.00	$0.00
PNOPX Putnam Sustainable Leaders Fund	$0.00	$0.00	$0.00

PNOPX vs. FDSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PNOPX Putnam Sustainable Leaders Fund	3.92%	10.93%	22.97%	26.23%	-22.86%	23.44%	28.57%	35.86%	-0.90%	29.07%
FDSSX Fidelity Stock Selector All Cap Fund	15.33%	18.89%	19.79%	26.94%	-19.55%	23.14%	24.90%	32.21%	-8.61%	24.42%

Correlation

The correlation between PNOPX and FDSSX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Jan 2, 1991	0.92

The correlation between PNOPX and FDSSX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

PNOPX vs. FDSSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PNOPX

PNOPX Risk / Return Rank: 22
PNOPX Sharpe Ratio Rank: 24
PNOPX Sortino Ratio Rank: 23
PNOPX Omega Ratio Rank: 24
PNOPX Calmar Ratio Rank: 18
PNOPX Martin Ratio Rank: 23

FDSSX

FDSSX Risk / Return Rank: 80
FDSSX Sharpe Ratio Rank: 78
FDSSX Sortino Ratio Rank: 74
FDSSX Omega Ratio Rank: 74
FDSSX Calmar Ratio Rank: 84
FDSSX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PNOPX vs. FDSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Sustainable Leaders Fund (PNOPX) and Fidelity Stock Selector All Cap Fund (FDSSX). 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.

	PNOPX	FDSSX	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.89	-0.98
Sortino ratio: Return per unit of downside risk	1.33	2.59	-1.26
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.17
Calmar ratio: Return relative to maximum drawdown	0.95	2.94	-1.99
Martin ratio: Return relative to average drawdown	3.47	13.29	-9.82

PNOPX vs. FDSSX - Sharpe Ratio Comparison

The current PNOPX Sharpe Ratio is 0.91, which is lower than the FDSSX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of PNOPX and FDSSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PNOPX vs. FDSSX - Drawdown Comparison

The maximum PNOPX drawdown since its inception was -74.15%, which is greater than FDSSX's maximum drawdown of -56.77%. Use the drawdown chart below to compare losses from any high point for PNOPX and FDSSX.

Drawdown Indicators

	PNOPX	FDSSX	Difference
Max Drawdown Largest peak-to-trough decline	-74.15%	-56.77%	-17.38%
Max Drawdown (1Y) Largest decline over 1 year	-13.06%	-9.19%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-22.90%	-20.86%	-2.04%
Max Drawdown (5Y) Largest decline over 5 years	-29.13%	-25.22%	-3.91%
Max Drawdown (10Y) Largest decline over 10 years	-30.29%	-34.37%	+4.08%
Current Drawdown Current decline from peak	-0.99%	-1.58%	+0.59%
Average Drawdown Average peak-to-trough decline	-23.93%	-9.84%	-14.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.03%	+1.52%

Volatility

PNOPX vs. FDSSX - Volatility Comparison

Putnam Sustainable Leaders Fund (PNOPX) and Fidelity Stock Selector All Cap Fund (FDSSX) have volatilities of 3.85% and 3.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PNOPX	FDSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	3.79%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.80%	11.40%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	14.27%	-0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.52%	17.90%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.15%	18.58%	-0.43%

PNOPX vs. FDSSX - Expense Ratio Comparison

PNOPX has a 0.99% expense ratio, which is higher than FDSSX's 0.68% expense ratio.

Dividends

PNOPX vs. FDSSX - Dividend Comparison

PNOPX's dividend yield for the trailing twelve months is around 10.79%, more than FDSSX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDSSX Fidelity Stock Selector All Cap Fund	4.15%	4.79%	4.83%	2.03%	0.36%	0.84%	5.22%	6.09%	4.46%	3.07%	1.04%	5.16%
PNOPX Putnam Sustainable Leaders Fund	10.79%	11.22%	9.25%	2.96%	8.38%	11.69%	7.41%	7.14%	20.24%	4.91%	0.00%	12.64%

Frequently Asked Questions

Can I hold both PNOPX and FDSSX in my portfolio?

With a correlation of 0.96, PNOPX and FDSSX 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.

Which is riskier, PNOPX or FDSSX?

PNOPX has higher volatility (3.85%) compared to FDSSX (3.79%). In terms of maximum drawdown, PNOPX dropped -74.15% vs FDSSX's -56.77%.

Which has better risk-adjusted returns?

FDSSX currently has the higher Sharpe Ratio (1.89 vs 0.91), 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.