PPT vs. PSDYX
PPT (Putnam Premier Income Trust) and PSDYX (Putnam Ultra Short Duration Income Fund) are both mutual funds - PPT is a Multisector Bonds fund actively managed by Putnam, while PSDYX is a Ultrashort Bond fund managed by Putnam. Over the past 10 years, PPT returned 4.42%/yr vs 2.53%/yr for PSDYX. Their 0.06 correlation means their historical movements had little consistent relationship.
Performance
PPT vs. PSDYX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PPT having a 1.76% return and PSDYX slightly lower at 1.68%. Over the past 10 years, PPT has outperformed PSDYX with an annualized return of 4.42%, while PSDYX has yielded a comparatively lower 2.53% annualized return.
PPT
- 1D
- 0.88%
- 1M
- -0.40%
- 6M
- -1.47%
- YTD
- 1.76%
- 1Y
- 1.45%
- 3Y*
- 7.41%
- 5Y*
- 2.51%
- 10Y*
- 4.42%
- ALL TIME*
- 2.75%
PSDYX
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 1.31%
- YTD
- 1.68%
- 1Y
- 3.63%
- 3Y*
- 4.59%
- 5Y*
- 3.43%
- 10Y*
- 2.53%
- ALL TIME*
- 2.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $415.04K | $332.20K | $356.46K | |
| $0.00 | $0.00 | $0.00 |
PPT vs. PSDYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPT Putnam Premier Income Trust | 1.76% | 8.39% | 8.80% | 7.43% | -7.75% | -1.72% | -6.54% | 25.53% | -6.36% | 13.78% |
PSDYX Putnam Ultra Short Duration Income Fund | 1.68% | 4.99% | 5.25% | 4.78% | 0.61% | 0.07% | 1.50% | 2.86% | 1.95% | 1.40% |
Correlation
The correlation between PPT and PSDYX is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.06 |
The correlation between PPT and PSDYX shifts across timeframes, from 0.06 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PPT vs. PSDYX — Risk / Return Rank
PPT
PSDYX
PPT vs. PSDYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Premier Income Trust (PPT) and Putnam Ultra Short Duration Income Fund (PSDYX). 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.
| PPT | PSDYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.72 | ||
| Sortino ratioReturn per unit of downside risk | -8.76 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 3.19 | -2.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 7.61 | -7.33 |
| Martin ratioReturn relative to average drawdown | 0.60 | 37.11 | -36.51 |
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Drawdowns
PPT vs. PSDYX - Drawdown Comparison
The maximum PPT drawdown since its inception was -49.76%, which is greater than PSDYX's maximum drawdown of -2.58%. Use the drawdown chart below to compare losses from any high point for PPT and PSDYX.
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Drawdown Indicators
| PPT | PSDYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.76% | -2.58% | -47.18% |
Max Drawdown (1Y)Largest decline over 1 year | -5.05% | -0.49% | -4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -0.49% | -8.61% |
Max Drawdown (5Y)Largest decline over 5 years | -17.46% | -0.80% | -16.66% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | -2.58% | -29.21% |
Current DrawdownCurrent decline from peak | -2.71% | -0.10% | -2.61% |
Average DrawdownAverage peak-to-trough decline | -11.20% | -0.07% | -11.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 0.10% | +2.34% |
Volatility
PPT vs. PSDYX - Volatility Comparison
Putnam Premier Income Trust (PPT) has a higher volatility of 1.42% compared to Putnam Ultra Short Duration Income Fund (PSDYX) at 0.17%. This indicates that PPT's price experiences larger fluctuations and is considered to be riskier than PSDYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPT | PSDYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 0.17% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 6.59% | 0.93% | +5.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.18% | 1.36% | +7.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.88% | 1.31% | +10.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.42% | 1.06% | +13.36% |
Dividends
PPT vs. PSDYX - Dividend Comparison
PPT's dividend yield for the trailing twelve months is around 9.12%, more than PSDYX's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPT Putnam Premier Income Trust | 9.12% | 8.81% | 8.76% | 8.74% | 8.60% | 7.31% | 8.84% | 7.73% | 6.84% | 5.85% | 6.28% | 6.30% |
PSDYX Putnam Ultra Short Duration Income Fund | 3.97% | 4.65% | 4.81% | 3.65% | 1.30% | 0.37% | 1.09% | 2.51% | 2.23% | 1.29% | 0.88% | 0.57% |
Frequently Asked Questions
PPT and PSDYX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPT has higher volatility (1.42%) compared to PSDYX (0.17%). In terms of maximum drawdown, PPT dropped -49.76% vs PSDYX's -2.58%.
PSDYX currently has the higher Sharpe Ratio (2.88 vs 0.16), 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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