PNRAX vs. PABAX
Compare and contrast key facts about Putnam Research Fund (PNRAX) and Putnam Dynamic Asset Allocation Balanced Fund (PABAX).
PNRAX is managed by Putnam. It was launched on Oct 2, 1995. PABAX is managed by Putnam. It was launched on Feb 6, 1994.
Performance
PNRAX vs. PABAX - Performance Comparison
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PNRAX vs. PABAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNRAX Putnam Research Fund | -3.29% | 18.11% | 26.21% | 28.83% | -17.45% | 24.32% | 20.01% | 32.83% | -4.81% | 23.19% |
PABAX Putnam Dynamic Asset Allocation Balanced Fund | -1.48% | 14.90% | 15.25% | 15.80% | -15.76% | 13.25% | 11.81% | 17.31% | -7.21% | 15.21% |
Returns By Period
In the year-to-date period, PNRAX achieves a -3.29% return, which is significantly lower than PABAX's -1.48% return. Over the past 10 years, PNRAX has outperformed PABAX with an annualized return of 14.63%, while PABAX has yielded a comparatively lower 8.00% annualized return.
PNRAX
- 1D
- 3.01%
- 1M
- -4.49%
- YTD
- -3.29%
- 6M
- -0.60%
- 1Y
- 20.82%
- 3Y*
- 20.08%
- 5Y*
- 12.29%
- 10Y*
- 14.63%
PABAX
- 1D
- 1.90%
- 1M
- -3.48%
- YTD
- -1.48%
- 6M
- 0.59%
- 1Y
- 13.86%
- 3Y*
- 12.85%
- 5Y*
- 6.77%
- 10Y*
- 8.00%
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PNRAX vs. PABAX - Expense Ratio Comparison
PNRAX has a 1.03% expense ratio, which is higher than PABAX's 0.94% expense ratio.
Return for Risk
PNRAX vs. PABAX — Risk / Return Rank
PNRAX
PABAX
PNRAX vs. PABAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Research Fund (PNRAX) and Putnam Dynamic Asset Allocation Balanced Fund (PABAX). 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 | PABAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.15 | 1.27 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.71 | 1.85 | -0.14 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.78 | 0.00 |
Martin ratioReturn relative to average drawdown | 8.70 | 8.53 | +0.17 |
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 | PABAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.27 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.54 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.68 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.63 | -0.17 |
Correlation
The correlation between PNRAX and PABAX is 0.93, 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. PABAX - Dividend Comparison
PNRAX's dividend yield for the trailing twelve months is around 11.88%, more than PABAX's 6.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNRAX Putnam Research Fund | 11.88% | 11.49% | 7.57% | 0.28% | 9.46% | 7.67% | 2.02% | 7.24% | 15.09% | 1.57% | 1.06% | 1.19% |
PABAX Putnam Dynamic Asset Allocation Balanced Fund | 6.82% | 7.60% | 10.79% | 1.63% | 6.10% | 11.51% | 1.35% | 1.81% | 8.72% | 6.15% | 2.39% | 7.06% |
Drawdowns
PNRAX vs. PABAX - Drawdown Comparison
The maximum PNRAX drawdown since its inception was -57.49%, which is greater than PABAX's maximum drawdown of -45.92%. Use the drawdown chart below to compare losses from any high point for PNRAX and PABAX.
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Drawdown Indicators
| PNRAX | PABAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.49% | -45.92% | -11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -12.28% | -8.16% | -4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -24.37% | -20.98% | -3.39% |
Max Drawdown (10Y)Largest decline over 10 years | -33.35% | -22.31% | -11.04% |
Current DrawdownCurrent decline from peak | -5.47% | -4.15% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -12.11% | -5.70% | -6.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 1.70% | +0.81% |
Volatility
PNRAX vs. PABAX - Volatility Comparison
Putnam Research Fund (PNRAX) has a higher volatility of 5.44% compared to Putnam Dynamic Asset Allocation Balanced Fund (PABAX) at 3.96%. This indicates that PNRAX's price experiences larger fluctuations and is considered to be riskier than PABAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNRAX | PABAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 3.96% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 6.36% | +3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.57% | 11.28% | +7.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.09% | 12.55% | +4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.95% | 11.78% | +6.17% |