PRMYX vs. PNSAX

Last updated Jun 23, 2026

PRMYX (Putnam RetirementReady Maturity Fund) and PNSAX (Putnam Small Cap Growth Fund) are both mutual funds - PRMYX is a Target Retirement Date fund managed by Putnam, while PNSAX is a Small Cap Growth Equities fund managed by Putnam. Over the past 10 years, PRMYX returned 3.40%/yr vs 16.52%/yr for PNSAX. A 0.64 correlation means they provide meaningful diversification when combined. PRMYX charges 0.13%/yr vs 1.23%/yr for PNSAX.

Performance

PRMYX vs. PNSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam RetirementReady Maturity Fund (PRMYX) and Putnam Small Cap Growth Fund (PNSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRMYX achieves a 2.73% return, which is significantly lower than PNSAX's 25.36% return. Over the past 10 years, PRMYX has underperformed PNSAX with an annualized return of 3.40%, while PNSAX has yielded a comparatively higher 16.52% annualized return.

PRMYX

• 1D: 0.35%
• 1M: 0.73%
• YTD: 2.73%
• 6M: 2.60%
• 1Y: 8.77%
• 3Y*: 7.86%
• 5Y*: 4.24%
• 10Y*: 3.40%

PNSAX

• 1D: 2.46%
• 1M: 7.03%
• YTD: 25.36%
• 6M: 21.81%
• 1Y: 38.30%
• 3Y*: 22.44%
• 5Y*: 10.68%
• 10Y*: 16.52%

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

PRMYX vs. PNSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRMYX Putnam RetirementReady Maturity Fund	2.73%	8.38%	6.31%	9.82%	-4.22%	0.02%	1.29%	8.54%	-5.19%	5.10%
PNSAX Putnam Small Cap Growth Fund	25.36%	8.91%	22.98%	22.87%	-28.10%	14.38%	47.65%	37.60%	-2.46%	20.19%

Correlation

The correlation between PRMYX and PNSAX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.64

The correlation between PRMYX and PNSAX shifts across timeframes, from 0.63 (10 years) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PRMYX vs. PNSAX — Risk / Return Rank

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

PRMYX

PRMYX Risk / Return Rank: 50
PRMYX Sharpe Ratio Rank: 48
PRMYX Sortino Ratio Rank: 51
PRMYX Omega Ratio Rank: 48
PRMYX Calmar Ratio Rank: 48
PRMYX Martin Ratio Rank: 54

PNSAX

PNSAX Risk / Return Rank: 42
PNSAX Sharpe Ratio Rank: 36
PNSAX Sortino Ratio Rank: 34
PNSAX Omega Ratio Rank: 33
PNSAX Calmar Ratio Rank: 56
PNSAX Martin Ratio Rank: 49

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.

PRMYX vs. PNSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam RetirementReady Maturity Fund (PRMYX) and Putnam Small Cap Growth Fund (PNSAX). 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.

	PRMYX	PNSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.62	+0.25
Sortino ratio: Return per unit of downside risk	2.76	2.26	+0.51
Omega ratio: Gain probability vs. loss probability	1.35	1.28	+0.07
Calmar ratio: Return relative to maximum drawdown	2.54	2.74	-0.21
Martin ratio: Return relative to average drawdown	10.39	9.52	+0.86

PRMYX vs. PNSAX - Sharpe Ratio Comparison

The current PRMYX Sharpe Ratio is 1.86, which is comparable to the PNSAX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of PRMYX and PNSAX, 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

PRMYX vs. PNSAX - Drawdown Comparison

The maximum PRMYX drawdown since its inception was -9.74%, smaller than the maximum PNSAX drawdown of -69.47%. Use the drawdown chart below to compare losses from any high point for PRMYX and PNSAX.

Drawdown Indicators

	PRMYX	PNSAX	Difference
Max Drawdown Largest peak-to-trough decline	-9.74%	-69.47%	+59.73%
Max Drawdown (1Y) Largest decline over 1 year	-3.50%	-14.00%	+10.50%
Max Drawdown (3Y) Largest decline over 3 years	-7.35%	-26.25%	+18.90%
Max Drawdown (5Y) Largest decline over 5 years	-9.24%	-38.77%	+29.53%
Max Drawdown (10Y) Largest decline over 10 years	-9.74%	-38.77%	+29.03%
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-1.69%	-23.51%	+21.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	4.02%	-3.17%

Volatility

PRMYX vs. PNSAX - Volatility Comparison

The current volatility for Putnam RetirementReady Maturity Fund (PRMYX) is 1.82%, while Putnam Small Cap Growth Fund (PNSAX) has a volatility of 8.82%. This indicates that PRMYX experiences smaller price fluctuations and is considered to be less risky than PNSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRMYX	PNSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	8.82%	-7.00%
Volatility (6M) Calculated over the trailing 6-month period	3.78%	19.49%	-15.71%
Volatility (1Y) Calculated over the trailing 1-year period	4.76%	23.77%	-19.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.23%	23.46%	-18.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	23.69%	-19.21%

PRMYX vs. PNSAX - Expense Ratio Comparison

PRMYX has a 0.13% expense ratio, which is lower than PNSAX's 1.23% expense ratio.

Dividends

PRMYX vs. PNSAX - Dividend Comparison

PRMYX's dividend yield for the trailing twelve months is around 3.65%, more than PNSAX's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PNSAX Putnam Small Cap Growth Fund	0.34%	0.42%	0.00%	0.00%	0.00%	15.27%	4.87%	1.93%	1.88%	0.00%	0.00%	0.00%
PRMYX Putnam RetirementReady Maturity Fund	3.65%	3.30%	3.15%	3.62%	7.46%	2.47%	2.17%	2.97%	1.73%	0.55%	1.53%	3.90%

Frequently Asked Questions

Can I hold both PRMYX and PNSAX in my portfolio?

PRMYX and PNSAX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRMYX or PNSAX?

PNSAX has higher volatility (8.82%) compared to PRMYX (1.82%). In terms of maximum drawdown, PRMYX dropped -9.74% vs PNSAX's -69.47%.

Which has better risk-adjusted returns?

PRMYX currently has the higher Sharpe Ratio (1.86 vs 1.62), 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.