PNRAX vs. PAEKX

Last updated Apr 2, 2026

Compare and contrast key facts about Putnam Research Fund (PNRAX) and Putnam Retirement Advantage 2050 Fund (PAEKX).

PNRAX is managed by Putnam. It was launched on Oct 2, 1995. PAEKX is managed by Putnam. It was launched on Dec 30, 2019.

Performance

PNRAX vs. PAEKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Research Fund (PNRAX) and Putnam Retirement Advantage 2050 Fund (PAEKX). The values are adjusted to include any dividend payments, if applicable.

PNRAX vs. PAEKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PNRAX Putnam Research Fund	-3.29%	18.11%	26.21%	28.83%	-17.45%	24.32%	18.96%
PAEKX Putnam Retirement Advantage 2050 Fund	-1.48%	18.99%	13.81%	29.68%	-17.07%	18.57%	15.16%

Returns By Period

In the year-to-date period, PNRAX achieves a -3.29% return, which is significantly lower than PAEKX's -1.48% 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%

PAEKX

• 1D: 2.47%
• 1M: -4.45%
• YTD: -1.48%
• 6M: 1.03%
• 1Y: 18.61%
• 3Y*: 17.53%
• 5Y*: 9.86%
• 10Y*: —

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

PNRAX vs. PAEKX - Expense Ratio Comparison

PNRAX has a 1.03% expense ratio, which is higher than PAEKX's 0.45% expense ratio.

PNRAX

Putnam Research Fund

PAEKX

Putnam Retirement Advantage 2050 Fund

Return for Risk

PNRAX vs. PAEKX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PNRAX

PNRAX Risk / Return Rank: 70
PNRAX Sharpe Ratio Rank: 61
PNRAX Sortino Ratio Rank: 65
PNRAX Omega Ratio Rank: 68
PNRAX Calmar Ratio Rank: 72
PNRAX Martin Ratio Rank: 83

PAEKX

PAEKX Risk / Return Rank: 72
PAEKX Sharpe Ratio Rank: 68
PAEKX Sortino Ratio Rank: 70
PAEKX Omega Ratio Rank: 70
PAEKX Calmar Ratio Rank: 71
PAEKX Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PNRAX vs. PAEKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Research Fund (PNRAX) and Putnam Retirement Advantage 2050 Fund (PAEKX). 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	PAEKX	Difference
Sharpe ratio Return per unit of total volatility	1.15	1.31	-0.16
Sortino ratio Return per unit of downside risk	1.71	1.91	-0.20
Omega ratio Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio Return relative to maximum drawdown	1.78	1.86	-0.08
Martin ratio Return relative to average drawdown	8.70	9.05	-0.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PNRAX vs. PAEKX - Sharpe Ratio Comparison

The current PNRAX Sharpe Ratio is 1.15, which is comparable to the PAEKX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of PNRAX and PAEKX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PNRAX	PAEKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	1.31	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.69	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.67	-0.21

Correlation

The correlation between PNRAX and PAEKX is 0.96, 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. PAEKX - Dividend Comparison

PNRAX's dividend yield for the trailing twelve months is around 11.88%, more than PAEKX's 10.24% 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%
PAEKX Putnam Retirement Advantage 2050 Fund	10.24%	10.09%	5.96%	5.08%	11.27%	17.66%	2.17%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PNRAX vs. PAEKX - Drawdown Comparison

The maximum PNRAX drawdown since its inception was -57.49%, which is greater than PAEKX's maximum drawdown of -30.72%. Use the drawdown chart below to compare losses from any high point for PNRAX and PAEKX.

Drawdown Indicators

	PNRAX	PAEKX	Difference
Max Drawdown Largest peak-to-trough decline	-57.49%	-30.72%	-26.77%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-10.35%	-1.93%
Max Drawdown (5Y) Largest decline over 5 years	-24.37%	-23.45%	-0.92%
Max Drawdown (10Y) Largest decline over 10 years	-33.35%	—	—
Current Drawdown Current decline from peak	-5.47%	-5.35%	-0.12%
Average Drawdown Average peak-to-trough decline	-12.11%	-5.45%	-6.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.13%	+0.38%

Volatility

PNRAX vs. PAEKX - Volatility Comparison

Putnam Research Fund (PNRAX) has a higher volatility of 5.44% compared to Putnam Retirement Advantage 2050 Fund (PAEKX) at 4.90%. This indicates that PNRAX's price experiences larger fluctuations and is considered to be riskier than PAEKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PNRAX	PAEKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	4.90%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	9.74%	8.20%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	18.57%	14.66%	+3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	14.37%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	17.12%	+0.83%