POVSX vs. TIVFX

Last updated Jul 15, 2026

POVSX (Putnam International Equity Fund) and TIVFX (American Beacon Tocqueville International Value Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, POVSX returned 9.61%/yr vs 8.90%/yr for TIVFX. A 0.78 correlation means they provide meaningful diversification when combined. POVSX charges 1.25%/yr vs 1.20%/yr for TIVFX.

Performance

POVSX vs. TIVFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam International Equity Fund (POVSX) and American Beacon Tocqueville International Value Fund (TIVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, POVSX achieves a 10.09% return, which is significantly lower than TIVFX's 25.92% return. Over the past 10 years, POVSX has outperformed TIVFX with an annualized return of 9.61%, while TIVFX has yielded a comparatively lower 8.90% annualized return.

POVSX

• 1D: -1.06%
• 1M: -1.46%
• 6M: 6.11%
• YTD: 10.09%
• 1Y: 22.05%
• 3Y*: 17.67%
• 5Y*: 9.56%
• 10Y*: 9.61%

TIVFX

• 1D: -2.04%
• 1M: -5.68%
• 6M: 18.78%
• YTD: 25.92%
• 1Y: 44.37%
• 3Y*: 20.71%
• 5Y*: 9.68%
• 10Y*: 8.90%

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

POVSX vs. TIVFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
POVSX Putnam International Equity Fund	10.09%	37.27%	3.57%	18.65%	-14.84%	8.95%	11.78%	25.50%	-19.46%	26.47%
TIVFX American Beacon Tocqueville International Value Fund	25.92%	36.15%	3.73%	15.43%	-20.57%	7.53%	12.61%	19.38%	-19.87%	24.18%

Correlation

The correlation between POVSX and TIVFX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 1, 1994	0.78

The correlation between POVSX and TIVFX shifts across timeframes, from 0.67 (1 year) to 0.86 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

POVSX vs. TIVFX — Risk / Return Rank

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

POVSX

POVSX Risk / Return Rank: 37
POVSX Sharpe Ratio Rank: 37
POVSX Sortino Ratio Rank: 36
POVSX Omega Ratio Rank: 36
POVSX Calmar Ratio Rank: 37
POVSX Martin Ratio Rank: 40

TIVFX

TIVFX Risk / Return Rank: 81
TIVFX Sharpe Ratio Rank: 82
TIVFX Sortino Ratio Rank: 72
TIVFX Omega Ratio Rank: 77
TIVFX Calmar Ratio Rank: 92
TIVFX Martin Ratio Rank: 85

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.

POVSX vs. TIVFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam International Equity Fund (POVSX) and American Beacon Tocqueville International Value Fund (TIVFX). 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.

	POVSX	TIVFX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.13	-0.79
Sortino ratio: Return per unit of downside risk	1.90	2.66	-0.76
Omega ratio: Gain probability vs. loss probability	1.24	1.37	-0.13
Calmar ratio: Return relative to maximum drawdown	1.82	3.85	-2.03
Martin ratio: Return relative to average drawdown	6.78	12.21	-5.43

POVSX vs. TIVFX - Sharpe Ratio Comparison

The current POVSX Sharpe Ratio is 1.34, which is lower than the TIVFX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of POVSX and TIVFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

POVSX vs. TIVFX - Drawdown Comparison

The maximum POVSX drawdown since its inception was -62.97%, which is greater than TIVFX's maximum drawdown of -54.21%. Use the drawdown chart below to compare losses from any high point for POVSX and TIVFX.

Drawdown Indicators

	POVSX	TIVFX	Difference
Max Drawdown Largest peak-to-trough decline	-62.97%	-54.21%	-8.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-11.69%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-13.36%	-23.99%	+10.63%
Max Drawdown (5Y) Largest decline over 5 years	-31.24%	-36.31%	+5.07%
Max Drawdown (10Y) Largest decline over 10 years	-36.58%	-41.51%	+4.93%
Current Drawdown Current decline from peak	-3.02%	-10.36%	+7.34%
Average Drawdown Average peak-to-trough decline	-14.35%	-13.35%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.67%	-0.41%

Volatility

POVSX vs. TIVFX - Volatility Comparison

The current volatility for Putnam International Equity Fund (POVSX) is 5.33%, while American Beacon Tocqueville International Value Fund (TIVFX) has a volatility of 9.81%. This indicates that POVSX experiences smaller price fluctuations and is considered to be less risky than TIVFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	POVSX	TIVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	9.81%	-4.48%
Volatility (6M) Calculated over the trailing 6-month period	13.93%	18.36%	-4.43%
Volatility (1Y) Calculated over the trailing 1-year period	16.60%	21.20%	-4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.49%	19.19%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	17.71%	-1.09%

POVSX vs. TIVFX - Expense Ratio Comparison

POVSX has a 1.25% expense ratio, which is higher than TIVFX's 1.20% expense ratio.

Dividends

POVSX vs. TIVFX - Dividend Comparison

POVSX's dividend yield for the trailing twelve months is around 9.63%, more than TIVFX's 7.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
POVSX Putnam International Equity Fund	9.63%	10.60%	5.33%	1.88%	0.00%	14.17%	2.56%	1.58%	6.42%	0.32%	3.09%	2.70%
TIVFX American Beacon Tocqueville International Value Fund	7.01%	8.82%	10.23%	1.66%	1.39%	3.65%	0.34%	1.69%	1.37%	1.28%	1.57%	3.01%

Frequently Asked Questions

Can I hold both POVSX and TIVFX in my portfolio?

POVSX and TIVFX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POVSX or TIVFX?

TIVFX has higher volatility (9.81%) compared to POVSX (5.33%). In terms of maximum drawdown, POVSX dropped -62.97% vs TIVFX's -54.21%.

Which has better risk-adjusted returns?

TIVFX currently has the higher Sharpe Ratio (2.13 vs 1.34), 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.