PNRAX vs. QQQ
Compare and contrast key facts about Putnam Research Fund (PNRAX) and Invesco QQQ (QQQ).
PNRAX is managed by Putnam. It was launched on Oct 2, 1995. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PNRAX or QQQ.
Performance
PNRAX vs. QQQ - Performance Comparison
Returns By Period
In the year-to-date period, PNRAX achieves a 27.50% return, which is significantly higher than QQQ's 23.47% return. Over the past 10 years, PNRAX has underperformed QQQ with an annualized return of 8.92%, while QQQ has yielded a comparatively higher 18.10% annualized return.
PNRAX
27.50%
1.08%
11.46%
33.93%
10.99%
8.92%
QQQ
23.47%
1.82%
10.79%
29.73%
20.93%
18.10%
Key characteristics
| PNRAX | QQQ | |
|---|---|---|
| Sharpe Ratio | 2.78 | 1.80 |
| Sortino Ratio | 3.71 | 2.40 |
| Omega Ratio | 1.51 | 1.32 |
| Calmar Ratio | 2.42 | 2.31 |
| Martin Ratio | 16.99 | 8.39 |
| Ulcer Index | 2.05% | 3.73% |
| Daily Std Dev | 12.54% | 17.41% |
| Max Drawdown | -61.03% | -82.98% |
| Current Drawdown | -1.35% | -2.08% |
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PNRAX vs. QQQ - Expense Ratio Comparison
PNRAX has a 1.03% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Correlation
The correlation between PNRAX and QQQ is 0.86, 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.
Risk-Adjusted Performance
PNRAX vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Research Fund (PNRAX) and Invesco QQQ (QQQ). 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.
Dividends
PNRAX vs. QQQ - Dividend Comparison
PNRAX's dividend yield for the trailing twelve months is around 0.22%, less than QQQ's 0.60% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNRAX Putnam Research Fund | 0.22% | 0.28% | 1.14% | 0.00% | 0.59% | 0.98% | 0.42% | 0.00% | 1.06% | 1.19% | 0.98% | 0.69% |
QQQ Invesco QQQ | 0.60% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.02% |
Drawdowns
PNRAX vs. QQQ - Drawdown Comparison
The maximum PNRAX drawdown since its inception was -61.03%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for PNRAX and QQQ. For additional features, visit the drawdowns tool.
Volatility
PNRAX vs. QQQ - Volatility Comparison
The current volatility for Putnam Research Fund (PNRAX) is 4.09%, while Invesco QQQ (QQQ) has a volatility of 5.66%. This indicates that PNRAX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.