PPT vs. TSI
PPT (Putnam Premier Income Trust) and TSI (TCW Strategic Income Fund Inc.) are both Multisector Bonds funds. Over the past 10 years, PPT returned 4.79%/yr vs 5.07%/yr for TSI. At a 0.11 correlation, their price movements are largely independent.
Performance
PPT vs. TSI - Performance Comparison
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Returns By Period
In the year-to-date period, PPT achieves a 0.99% return, which is significantly higher than TSI's -6.33% return. Over the past 10 years, PPT has underperformed TSI with an annualized return of 4.79%, while TSI has yielded a comparatively higher 5.07% annualized return.
PPT
- 1D
- -0.12%
- 1M
- 0.47%
- YTD
- 0.99%
- 6M
- 1.56%
- 1Y
- 2.80%
- 3Y*
- 8.21%
- 5Y*
- 2.33%
- 10Y*
- 4.79%
TSI
- 1D
- 0.22%
- 1M
- -0.04%
- YTD
- -6.33%
- 6M
- -4.20%
- 1Y
- -0.45%
- 3Y*
- 7.02%
- 5Y*
- 2.12%
- 10Y*
- 5.07%
PPT vs. TSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPT Putnam Premier Income Trust | 0.99% | 8.39% | 8.80% | 7.43% | -7.75% | -1.72% | -6.54% | 25.53% | -6.36% | 13.78% |
TSI TCW Strategic Income Fund Inc. | -6.33% | 9.72% | 13.45% | 7.13% | -14.33% | 8.08% | 3.77% | 17.97% | -3.83% | 16.42% |
Correlation
The correlation between PPT and TSI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 1988 | 0.11 |
The correlation between PPT and TSI shifts across timeframes, from 0.11 (all time) to 0.23 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PPT vs. TSI — Risk / Return Rank
PPT
TSI
PPT vs. TSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Premier Income Trust (PPT) and TCW Strategic Income Fund Inc. (TSI). 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 | TSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | -0.05 | +0.61 |
| Martin ratioReturn relative to average drawdown | 1.25 | -0.12 | +1.38 |
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Drawdowns
PPT vs. TSI - Drawdown Comparison
The maximum PPT drawdown since its inception was -49.76%, smaller than the maximum TSI drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for PPT and TSI.
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Drawdown Indicators
| PPT | TSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.76% | -60.35% | +10.59% |
Max Drawdown (1Y)Largest decline over 1 year | -5.05% | -8.30% | +3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -8.30% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -18.35% | -18.56% | +0.21% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | -30.00% | -1.79% |
Current DrawdownCurrent decline from peak | -3.45% | -6.36% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -7.69% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 3.61% | -1.37% |
Volatility
PPT vs. TSI - Volatility Comparison
Putnam Premier Income Trust (PPT) has a higher volatility of 1.76% compared to TCW Strategic Income Fund Inc. (TSI) at 1.41%. This indicates that PPT's price experiences larger fluctuations and is considered to be riskier than TSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPT | TSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.41% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 7.29% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.33% | 8.38% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.93% | 10.88% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.45% | 14.03% | +0.42% |
Dividends
PPT vs. TSI - Dividend Comparison
PPT's dividend yield for the trailing twelve months is around 9.12%, which matches TSI's 9.15% 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% |
TSI TCW Strategic Income Fund Inc. | 9.15% | 6.58% | 8.00% | 7.73% | 7.00% | 6.36% | 4.83% | 7.39% | 7.07% | 5.36% | 5.21% | 4.08% |
Frequently Asked Questions
PPT and TSI 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 (1.76%) compared to TSI (1.41%). In terms of maximum drawdown, PPT dropped -49.76% vs TSI's -60.35%.
PPT currently has the higher Sharpe Ratio (0.30 vs -0.05), 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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