PNVAX vs. VFSNX
PNVAX (Putnam International Capital Opportunities Fund) and VFSNX (Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, PNVAX returned 8.28%/yr vs 8.08%/yr for VFSNX. Their correlation of 0.93 suggests significant overlap in exposure. PNVAX charges 1.51%/yr vs 0.11%/yr for VFSNX.
Performance
PNVAX vs. VFSNX - Performance Comparison
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Returns By Period
In the year-to-date period, PNVAX achieves a 3.18% return, which is significantly lower than VFSNX's 11.10% return. Both investments have delivered pretty close results over the past 10 years, with PNVAX having a 8.28% annualized return and VFSNX not far behind at 8.08%.
PNVAX
- 1D
- 1.39%
- 1M
- 0.94%
- YTD
- 3.18%
- 6M
- 4.00%
- 1Y
- 10.81%
- 3Y*
- 14.42%
- 5Y*
- 5.68%
- 10Y*
- 8.28%
VFSNX
- 1D
- 0.32%
- 1M
- -1.53%
- YTD
- 11.10%
- 6M
- 13.73%
- 1Y
- 26.73%
- 3Y*
- 17.04%
- 5Y*
- 5.89%
- 10Y*
- 8.08%
PNVAX vs. VFSNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNVAX Putnam International Capital Opportunities Fund | 3.18% | 30.18% | 3.09% | 15.24% | -18.02% | 13.59% | 11.02% | 25.85% | -16.67% | 34.55% |
VFSNX Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares | 11.10% | 29.97% | 2.63% | 15.18% | -21.26% | 12.74% | 11.92% | 21.72% | -18.46% | 30.30% |
Correlation
The correlation between PNVAX and VFSNX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2009 | 0.93 |
The correlation between PNVAX and VFSNX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.
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Return for Risk
PNVAX vs. VFSNX — Risk / Return Rank
PNVAX
VFSNX
PNVAX vs. VFSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam International Capital Opportunities Fund (PNVAX) and Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX). 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.
| PNVAX | VFSNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.37 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 2.36 | -1.50 |
| Martin ratioReturn relative to average drawdown | 3.04 | 9.07 | -6.03 |
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
| PNVAX | VFSNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 2.02 | -1.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.39 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.51 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.59 | -0.10 |
Drawdowns
PNVAX vs. VFSNX - Drawdown Comparison
The maximum PNVAX drawdown since its inception was -64.91%, which is greater than VFSNX's maximum drawdown of -43.65%. Use the drawdown chart below to compare losses from any high point for PNVAX and VFSNX.
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Drawdown Indicators
| PNVAX | VFSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.91% | -43.65% | -21.26% |
Max Drawdown (1Y)Largest decline over 1 year | -12.87% | -11.47% | -1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -13.16% | -14.70% | +1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -36.83% | -33.75% | -3.08% |
Max Drawdown (10Y)Largest decline over 10 years | -37.07% | -43.65% | +6.58% |
Current DrawdownCurrent decline from peak | -2.83% | -1.68% | -1.15% |
Average DrawdownAverage peak-to-trough decline | -17.78% | -9.48% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 2.98% | +0.66% |
Volatility
PNVAX vs. VFSNX - Volatility Comparison
Putnam International Capital Opportunities Fund (PNVAX) and Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX) have volatilities of 4.12% and 4.31%, 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 | VFSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 4.31% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 11.22% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.02% | 13.39% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 15.03% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.25% | 15.76% | +0.49% |
PNVAX vs. VFSNX - Expense Ratio Comparison
PNVAX has a 1.51% expense ratio, which is higher than VFSNX's 0.11% expense ratio.
Dividends
PNVAX vs. VFSNX - Dividend Comparison
PNVAX's dividend yield for the trailing twelve months is around 12.66%, more than VFSNX's 3.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNVAX Putnam International Capital Opportunities Fund | 12.66% | 13.06% | 3.89% | 1.21% | 0.48% | 13.42% | 4.40% | 1.33% | 9.91% | 2.75% | 2.53% | 1.63% |
VFSNX Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares | 3.02% | 3.36% | 3.41% | 3.11% | 2.26% | 2.70% | 1.90% | 3.25% | 2.81% | 2.85% | 2.93% | 2.69% |
Frequently Asked Questions
PNVAX and VFSNX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFSNX has higher volatility (4.31%) compared to PNVAX (4.12%). In terms of maximum drawdown, PNVAX dropped -64.91% vs VFSNX's -43.65%.
VFSNX currently has the higher Sharpe Ratio (2.02 vs 0.79), 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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