POGAX vs. POCAX

Last updated Jun 4, 2026

POGAX (Putnam Growth Opportunities Fund) and POCAX (Pacific Funds Portfolio Optimization Moderate) are both mutual funds - POGAX is a Large Cap Growth Equities fund managed by Putnam, while POCAX is a Diversified Portfolio fund managed by Pacific Funds Series Trust. Over the past 10 years, POGAX returned 18.53%/yr vs 7.90%/yr for POCAX. Their correlation of 0.89 suggests significant overlap in exposure. POGAX charges 0.99%/yr vs 0.60%/yr for POCAX.

Performance

POGAX vs. POCAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Growth Opportunities Fund (POGAX) and Pacific Funds Portfolio Optimization Moderate (POCAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, POGAX achieves a 9.53% return, which is significantly higher than POCAX's 7.88% return. Over the past 10 years, POGAX has outperformed POCAX with an annualized return of 18.53%, while POCAX has yielded a comparatively lower 7.90% annualized return.

POGAX

• 1D: -0.12%
• 1M: 7.16%
• YTD: 9.53%
• 6M: 9.12%
• 1Y: 25.84%
• 3Y*: 24.19%
• 5Y*: 14.66%
• 10Y*: 18.53%

POCAX

• 1D: 0.23%
• 1M: 3.46%
• YTD: 7.88%
• 6M: 7.68%
• 1Y: 18.54%
• 3Y*: 13.49%
• 5Y*: 5.59%
• 10Y*: 7.90%

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

POGAX vs. POCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
POGAX Putnam Growth Opportunities Fund	9.53%	14.28%	33.22%	44.22%	-30.43%	22.64%	38.44%	36.44%	2.29%	30.97%
POCAX Pacific Funds Portfolio Optimization Moderate	7.88%	12.91%	11.62%	13.95%	-18.67%	11.94%	14.65%	20.36%	-7.41%	13.51%

Correlation

The correlation between POGAX and POCAX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 5, 2004	0.89

The correlation between POGAX and POCAX has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

Return for Risk

POGAX vs. POCAX — Risk / Return Rank

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

POGAX

POGAX Risk / Return Rank: 27
POGAX Sharpe Ratio Rank: 34
POGAX Sortino Ratio Rank: 31
POGAX Omega Ratio Rank: 32
POGAX Calmar Ratio Rank: 19
POGAX Martin Ratio Rank: 20

POCAX

POCAX Risk / Return Rank: 62
POCAX Sharpe Ratio Rank: 61
POCAX Sortino Ratio Rank: 61
POCAX Omega Ratio Rank: 59
POCAX Calmar Ratio Rank: 59
POCAX Martin Ratio Rank: 69

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.

POGAX vs. POCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Growth Opportunities Fund (POGAX) and Pacific Funds Portfolio Optimization Moderate (POCAX). 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.

	POGAX	POCAX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.30	-0.62
Sortino ratio: Return per unit of downside risk	2.29	3.28	-0.98
Omega ratio: Gain probability vs. loss probability	1.30	1.43	-0.13
Calmar ratio: Return relative to maximum drawdown	1.62	2.96	-1.33
Martin ratio: Return relative to average drawdown	5.41	13.42	-8.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

POGAX vs. POCAX - Sharpe Ratio Comparison

The current POGAX Sharpe Ratio is 1.68, which is comparable to the POCAX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of POGAX and POCAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	POGAX	POCAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	2.30	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.33	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.55	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.50	-0.05

Drawdowns

POGAX vs. POCAX - Drawdown Comparison

The maximum POGAX drawdown since its inception was -76.55%, which is greater than POCAX's maximum drawdown of -40.19%. Use the drawdown chart below to compare losses from any high point for POGAX and POCAX.

Drawdown Indicators

	POGAX	POCAX	Difference
Max Drawdown Largest peak-to-trough decline	-76.55%	-40.19%	-36.36%
Max Drawdown (1Y) Largest decline over 1 year	-16.42%	-6.47%	-9.95%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	-12.03%	-11.63%
Max Drawdown (5Y) Largest decline over 5 years	-34.15%	-24.92%	-9.23%
Max Drawdown (10Y) Largest decline over 10 years	-34.15%	-26.59%	-7.56%
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-29.04%	-4.94%	-24.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	1.42%	+3.50%

Volatility

POGAX vs. POCAX - Volatility Comparison

Putnam Growth Opportunities Fund (POGAX) has a higher volatility of 3.68% compared to Pacific Funds Portfolio Optimization Moderate (POCAX) at 2.43%. This indicates that POGAX's price experiences larger fluctuations and is considered to be riskier than POCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	POGAX	POCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.43%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	12.09%	6.62%	+5.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	8.32%	+7.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	16.90%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	14.46%	+6.75%

POGAX vs. POCAX - Expense Ratio Comparison

POGAX has a 0.99% expense ratio, which is higher than POCAX's 0.60% expense ratio.

Dividends

POGAX vs. POCAX - Dividend Comparison

POGAX's dividend yield for the trailing twelve months is around 5.19%, less than POCAX's 6.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
POCAX Pacific Funds Portfolio Optimization Moderate	6.83%	7.37%	2.97%	1.68%	22.92%	8.62%	3.11%	5.02%	22.38%	3.85%	5.44%	6.68%
POGAX Putnam Growth Opportunities Fund	5.19%	5.68%	4.58%	0.49%	7.80%	9.08%	3.29%	3.83%	7.98%	1.89%	0.01%	5.70%

Frequently Asked Questions

Can I hold both POGAX and POCAX in my portfolio?

POGAX and POCAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POGAX or POCAX?

POGAX has higher volatility (3.68%) compared to POCAX (2.43%). In terms of maximum drawdown, POGAX dropped -76.55% vs POCAX's -40.19%.

Which has better risk-adjusted returns?

POCAX currently has the higher Sharpe Ratio (2.30 vs 1.68), 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.