PNVAX vs. ALOIX
PNVAX (Putnam International Capital Opportunities Fund) and ALOIX (Virtus International Small-Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, PNVAX returned 9.30%/yr vs 8.73%/yr for ALOIX. Their correlation of 0.86 suggests significant overlap in exposure. PNVAX charges 1.51%/yr vs 1.04%/yr for ALOIX.
Performance
PNVAX vs. ALOIX - Performance Comparison
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Returns By Period
In the year-to-date period, PNVAX achieves a 0.58% return, which is significantly lower than ALOIX's 12.46% return. Over the past 10 years, PNVAX has outperformed ALOIX with an annualized return of 9.30%, while ALOIX has yielded a comparatively lower 8.73% annualized return.
PNVAX
- 1D
- 0.47%
- 1M
- -2.16%
- YTD
- 0.58%
- 6M
- 0.18%
- 1Y
- 4.46%
- 3Y*
- 13.90%
- 5Y*
- 5.12%
- 10Y*
- 9.30%
ALOIX
- 1D
- 0.51%
- 1M
- -2.00%
- YTD
- 12.46%
- 6M
- 12.49%
- 1Y
- 31.20%
- 3Y*
- 19.85%
- 5Y*
- 6.37%
- 10Y*
- 8.73%
PNVAX vs. ALOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNVAX Putnam International Capital Opportunities Fund | 0.58% | 30.18% | 3.09% | 15.24% | -18.02% | 13.59% | 11.02% | 25.85% | -16.67% | 34.55% |
ALOIX Virtus International Small-Cap Fund | 12.46% | 36.22% | 2.65% | 19.43% | -26.96% | 6.02% | 15.92% | 24.57% | -22.78% | 37.59% |
Correlation
The correlation between PNVAX and ALOIX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998 | 0.86 |
The correlation between PNVAX and ALOIX shifts across timeframes, from 0.75 (1 year) to 0.86 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PNVAX vs. ALOIX — Risk / Return Rank
PNVAX
ALOIX
PNVAX vs. ALOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam International Capital Opportunities Fund (PNVAX) and Virtus International Small-Cap Fund (ALOIX). 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.
| PNVAX | ALOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.45 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 3.22 | -2.79 |
| Martin ratioReturn relative to average drawdown | 1.48 | 11.84 | -10.36 |
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Drawdowns
PNVAX vs. ALOIX - Drawdown Comparison
The maximum PNVAX drawdown since its inception was -64.91%, smaller than the maximum ALOIX drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for PNVAX and ALOIX.
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Drawdown Indicators
| PNVAX | ALOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.91% | -79.29% | +14.38% |
Max Drawdown (1Y)Largest decline over 1 year | -12.87% | -10.07% | -2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -13.16% | -14.03% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -36.83% | -39.41% | +2.58% |
Max Drawdown (10Y)Largest decline over 10 years | -37.07% | -42.79% | +5.72% |
Current DrawdownCurrent decline from peak | -5.28% | -2.81% | -2.47% |
Average DrawdownAverage peak-to-trough decline | -17.75% | -34.79% | +17.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 2.74% | +1.07% |
Volatility
PNVAX vs. ALOIX - Volatility Comparison
Putnam International Capital Opportunities Fund (PNVAX) and Virtus International Small-Cap Fund (ALOIX) have volatilities of 5.07% and 5.07%, 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
| PNVAX | ALOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 5.07% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.76% | 11.23% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.50% | 13.33% | +1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 15.07% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.05% | 16.49% | -0.44% |
PNVAX vs. ALOIX - Expense Ratio Comparison
PNVAX has a 1.51% expense ratio, which is higher than ALOIX's 1.04% expense ratio.
Dividends
PNVAX vs. ALOIX - Dividend Comparison
PNVAX's dividend yield for the trailing twelve months is around 12.99%, more than ALOIX's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALOIX Virtus International Small-Cap Fund | 4.04% | 4.54% | 3.50% | 4.93% | 1.25% | 19.08% | 1.38% | 1.62% | 18.17% | 1.52% | 1.04% | 0.54% |
PNVAX Putnam International Capital Opportunities Fund | 12.99% | 13.06% | 3.89% | 1.21% | 0.48% | 13.42% | 4.40% | 1.33% | 9.91% | 2.75% | 2.53% | 1.63% |
Frequently Asked Questions
PNVAX and ALOIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALOIX has higher volatility (5.07%) compared to PNVAX (5.07%). In terms of maximum drawdown, PNVAX dropped -64.91% vs ALOIX's -79.29%.
ALOIX currently has the higher Sharpe Ratio (2.44 vs 0.39), 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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