PNRAX vs. CMNWX
Compare and contrast key facts about Putnam Research Fund (PNRAX) and Principal Capital Appreciation Fund (CMNWX).
PNRAX is managed by Putnam. It was launched on Oct 2, 1995. CMNWX is managed by Principal. It was launched on Nov 24, 1986.
Performance
PNRAX vs. CMNWX - Performance Comparison
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PNRAX vs. CMNWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNRAX Putnam Research Fund | -2.61% | 18.11% | 26.21% | 28.83% | -17.45% | 24.32% | 20.01% | 32.83% | -4.81% | 23.19% |
CMNWX Principal Capital Appreciation Fund | -3.10% | 13.27% | 32.14% | 25.01% | -16.37% | 27.45% | 18.36% | 32.21% | -4.12% | 20.64% |
Returns By Period
In the year-to-date period, PNRAX achieves a -2.61% return, which is significantly higher than CMNWX's -3.10% return. Both investments have delivered pretty close results over the past 10 years, with PNRAX having a 14.71% annualized return and CMNWX not far behind at 14.16%.
PNRAX
- 1D
- 0.70%
- 1M
- -2.79%
- YTD
- -2.61%
- 6M
- 0.09%
- 1Y
- 20.84%
- 3Y*
- 20.36%
- 5Y*
- 12.45%
- 10Y*
- 14.71%
CMNWX
- 1D
- 0.82%
- 1M
- -3.50%
- YTD
- -3.10%
- 6M
- -2.38%
- 1Y
- 15.01%
- 3Y*
- 19.65%
- 5Y*
- 12.79%
- 10Y*
- 14.16%
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PNRAX vs. CMNWX - Expense Ratio Comparison
PNRAX has a 1.03% expense ratio, which is higher than CMNWX's 0.80% expense ratio.
Return for Risk
PNRAX vs. CMNWX — Risk / Return Rank
PNRAX
CMNWX
PNRAX vs. CMNWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Research Fund (PNRAX) and Principal Capital Appreciation Fund (CMNWX). 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.
| PNRAX | CMNWX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.17 | 0.91 | +0.27 |
Sortino ratioReturn per unit of downside risk | 1.74 | 1.42 | +0.32 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.80 | 1.43 | +0.37 |
Martin ratioReturn relative to average drawdown | 8.74 | 6.65 | +2.09 |
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
| PNRAX | CMNWX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 0.91 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.76 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.83 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.69 | -0.23 |
Correlation
The correlation between PNRAX and CMNWX is 0.92, 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
PNRAX vs. CMNWX - Dividend Comparison
PNRAX's dividend yield for the trailing twelve months is around 11.80%, more than CMNWX's 9.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNRAX Putnam Research Fund | 11.80% | 11.49% | 7.57% | 0.28% | 9.46% | 7.67% | 2.02% | 7.24% | 15.09% | 1.57% | 1.06% | 1.19% |
CMNWX Principal Capital Appreciation Fund | 9.03% | 8.75% | 10.03% | 0.71% | 0.69% | 9.52% | 5.33% | 8.37% | 46.60% | 7.72% | 10.32% | 5.42% |
Drawdowns
PNRAX vs. CMNWX - Drawdown Comparison
The maximum PNRAX drawdown since its inception was -57.49%, which is greater than CMNWX's maximum drawdown of -50.43%. Use the drawdown chart below to compare losses from any high point for PNRAX and CMNWX.
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Drawdown Indicators
| PNRAX | CMNWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.49% | -50.43% | -7.06% |
Max Drawdown (1Y)Largest decline over 1 year | -8.24% | -8.91% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -24.37% | -23.35% | -1.02% |
Max Drawdown (10Y)Largest decline over 10 years | -33.35% | -33.26% | -0.09% |
Current DrawdownCurrent decline from peak | -4.81% | -5.42% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -12.11% | -6.99% | -5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.46% | +0.07% |
Volatility
PNRAX vs. CMNWX - Volatility Comparison
Putnam Research Fund (PNRAX) and Principal Capital Appreciation Fund (CMNWX) have volatilities of 5.44% and 5.67%, 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.
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Volatility by Period
| PNRAX | CMNWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 5.67% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.76% | 10.03% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.57% | 17.55% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.09% | 16.81% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.95% | 17.16% | +0.79% |