PNOPX vs. VTI
PNOPX (Putnam Sustainable Leaders Fund) and VTI (Vanguard Total Stock Market ETF) are both funds - PNOPX is a Large Cap Growth Equities fund managed by Putnam, while VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. Over the past 10 years, PNOPX returned 15.17%/yr vs 15.31%/yr for VTI. With a 0.95 correlation, they move nearly in lockstep. PNOPX charges 0.99%/yr vs 0.03%/yr for VTI.
Performance
PNOPX vs. VTI - Performance Comparison
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Returns By Period
In the year-to-date period, PNOPX achieves a 3.72% return, which is significantly lower than VTI's 10.35% return. Both investments have delivered pretty close results over the past 10 years, with PNOPX having a 15.17% annualized return and VTI not far ahead at 15.31%.
PNOPX
- 1D
- 1.39%
- 1M
- 0.84%
- YTD
- 3.72%
- 6M
- 3.46%
- 1Y
- 18.23%
- 3Y*
- 16.22%
- 5Y*
- 8.97%
- 10Y*
- 15.17%
VTI
- 1D
- -0.32%
- 1M
- 0.55%
- YTD
- 10.35%
- 6M
- 9.59%
- 1Y
- 27.18%
- 3Y*
- 21.19%
- 5Y*
- 12.36%
- 10Y*
- 15.31%
PNOPX vs. VTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNOPX Putnam Sustainable Leaders Fund | 3.72% | 10.93% | 22.97% | 26.23% | -22.86% | 23.44% | 28.57% | 35.86% | -0.90% | 29.07% |
VTI Vanguard Total Stock Market ETF | 10.35% | 17.10% | 23.81% | 26.05% | -19.52% | 25.68% | 21.08% | 30.67% | -5.23% | 21.21% |
Correlation
The correlation between PNOPX and VTI is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 31, 2001 | 0.95 |
The correlation between PNOPX and VTI has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
PNOPX vs. VTI — Risk / Return Rank
PNOPX
VTI
PNOPX vs. VTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Sustainable Leaders Fund (PNOPX) and Vanguard Total Stock Market ETF (VTI). 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 | VTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 3.06 | -1.66 |
| Martin ratioReturn relative to average drawdown | 5.19 | 13.68 | -8.49 |
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Drawdowns
PNOPX vs. VTI - Drawdown Comparison
The maximum PNOPX drawdown since its inception was -74.15%, which is greater than VTI's maximum drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for PNOPX and VTI.
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Drawdown Indicators
| PNOPX | VTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.15% | -55.45% | -18.70% |
Max Drawdown (1Y)Largest decline over 1 year | -13.06% | -8.92% | -4.14% |
Max Drawdown (3Y)Largest decline over 3 years | -22.90% | -19.30% | -3.60% |
Max Drawdown (5Y)Largest decline over 5 years | -29.13% | -25.36% | -3.77% |
Max Drawdown (10Y)Largest decline over 10 years | -30.29% | -35.00% | +4.71% |
Current DrawdownCurrent decline from peak | -1.04% | -1.48% | +0.44% |
Average DrawdownAverage peak-to-trough decline | -24.00% | -8.01% | -15.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.52% | 1.99% | +1.53% |
Volatility
PNOPX vs. VTI - Volatility Comparison
Putnam Sustainable Leaders Fund (PNOPX) has a higher volatility of 5.32% compared to Vanguard Total Stock Market ETF (VTI) at 4.74%. This indicates that PNOPX's price experiences larger fluctuations and is considered to be riskier than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNOPX | VTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 4.74% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 9.96% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.03% | 12.76% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.48% | 17.49% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 18.35% | -0.15% |
PNOPX vs. VTI - Expense Ratio Comparison
PNOPX has a 0.99% expense ratio, which is higher than VTI's 0.03% expense ratio.
Dividends
PNOPX vs. VTI - Dividend Comparison
PNOPX's dividend yield for the trailing twelve months is around 10.81%, more than VTI's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNOPX Putnam Sustainable Leaders Fund | 10.81% | 11.22% | 9.25% | 2.96% | 8.38% | 11.69% | 7.41% | 7.14% | 20.24% | 4.91% | 0.00% | 12.64% |
VTI Vanguard Total Stock Market ETF | 1.02% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
Frequently Asked Questions
With a correlation of 0.96, PNOPX and VTI 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.
PNOPX has higher volatility (5.32%) compared to VTI (4.74%). In terms of maximum drawdown, PNOPX dropped -74.15% vs VTI's -55.45%.
VTI currently has the higher Sharpe Ratio (2.14 vs 1.40), 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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