PRRTX vs. PNSAX

Last updated Aug 1, 2026

PRRTX (Putnam RetirementReady 2030 Fund) and PNSAX (Putnam Small Cap Growth Fund) are both mutual funds - PRRTX 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, PRRTX returned 5.74%/yr vs 14.93%/yr for PNSAX. Their correlation of 0.81 means they have usually moved in the same direction. PRRTX charges 0.11%/yr vs 1.23%/yr for PNSAX.

Performance

PRRTX vs. PNSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam RetirementReady 2030 Fund (PRRTX) 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, PRRTX achieves a 2.41% return, which is significantly lower than PNSAX's 16.15% return. Over the past 10 years, PRRTX has underperformed PNSAX with an annualized return of 5.74%, while PNSAX has yielded a comparatively higher 14.93% annualized return.

PRRTX

• 1D: 0.67%
• 1M: -0.40%
• 6M: 2.53%
• YTD: 2.41%
• 1Y: 6.60%
• 3Y*: 8.50%
• 5Y*: 4.89%
• 10Y*: 5.74%
• ALL TIME*: 6.47%

PNSAX

• 1D: 3.67%
• 1M: -4.68%
• 6M: 10.87%
• YTD: 16.15%
• 1Y: 22.94%
• 3Y*: 17.06%
• 5Y*: 7.81%
• 10Y*: 14.93%
• ALL TIME*: 11.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PNSAX Putnam Small Cap Growth Fund	$0.00	$0.00	$0.00
PRRTX Putnam RetirementReady 2030 Fund	$0.00	$0.00	$0.00

PRRTX vs. PNSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRRTX Putnam RetirementReady 2030 Fund	2.41%	8.59%	6.18%	15.42%	-7.91%	6.89%	5.46%	13.40%	-6.22%	13.50%
PNSAX Putnam Small Cap Growth Fund	16.15%	8.91%	22.98%	22.87%	-28.10%	14.38%	47.65%	37.60%	-2.46%	20.19%

Correlation

The correlation between PRRTX and PNSAX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.81

The correlation between PRRTX and PNSAX has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.

Return for Risk

PRRTX vs. PNSAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PRRTX

PRRTX Risk / Return Rank: 35
PRRTX Sharpe Ratio Rank: 33
PRRTX Sortino Ratio Rank: 34
PRRTX Omega Ratio Rank: 32
PRRTX Calmar Ratio Rank: 35
PRRTX Martin Ratio Rank: 42

PNSAX

PNSAX Risk / Return Rank: 26
PNSAX Sharpe Ratio Rank: 22
PNSAX Sortino Ratio Rank: 24
PNSAX Omega Ratio Rank: 23
PNSAX Calmar Ratio Rank: 33
PNSAX Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PRRTX vs. PNSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam RetirementReady 2030 Fund (PRRTX) 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.

	PRRTX	PNSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	0.78	+0.34
Sortino ratio: Return per unit of downside risk	1.65	1.24	+0.41
Omega ratio: Gain probability vs. loss probability	1.20	1.15	+0.05
Calmar ratio: Return relative to maximum drawdown	1.57	1.41	+0.16
Martin ratio: Return relative to average drawdown	6.27	4.27	+2.00

PRRTX vs. PNSAX - Sharpe Ratio Comparison

The current PRRTX Sharpe Ratio is 1.12, which is higher than the PNSAX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of PRRTX 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

PRRTX vs. PNSAX - Drawdown Comparison

The maximum PRRTX drawdown since its inception was -16.59%, smaller than the maximum PNSAX drawdown of -69.47%. Use the drawdown chart below to compare losses from any high point for PRRTX and PNSAX.

Drawdown Indicators

	PRRTX	PNSAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.59%	-69.47%	+52.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.07%	-14.00%	+9.93%
Max Drawdown (3Y) Largest decline over 3 years	-9.20%	-26.25%	+17.05%
Max Drawdown (5Y) Largest decline over 5 years	-11.71%	-38.77%	+27.06%
Max Drawdown (10Y) Largest decline over 10 years	-16.59%	-38.77%	+22.18%
Current Drawdown Current decline from peak	-0.77%	-9.57%	+8.80%
Average Drawdown Average peak-to-trough decline	-2.25%	-23.45%	+21.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	4.61%	-3.59%

Volatility

PRRTX vs. PNSAX - Volatility Comparison

The current volatility for Putnam RetirementReady 2030 Fund (PRRTX) is 1.66%, while Putnam Small Cap Growth Fund (PNSAX) has a volatility of 8.02%. This indicates that PRRTX 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

	PRRTX	PNSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	8.02%	-6.36%
Volatility (6M) Calculated over the trailing 6-month period	4.59%	20.84%	-16.25%
Volatility (1Y) Calculated over the trailing 1-year period	5.69%	25.20%	-19.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.17%	23.68%	-16.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.25%	23.74%	-16.49%

PRRTX vs. PNSAX - Expense Ratio Comparison

PRRTX has a 0.11% expense ratio, which is lower than PNSAX's 1.23% expense ratio.

Dividends

PRRTX vs. PNSAX - Dividend Comparison

PRRTX's dividend yield for the trailing twelve months is around 2.09%, more than PNSAX's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PNSAX Putnam Small Cap Growth Fund	0.37%	0.42%	0.00%	0.00%	0.00%	15.27%	4.87%	1.93%	1.88%	0.00%	0.00%	0.00%
PRRTX Putnam RetirementReady 2030 Fund	2.09%	2.14%	2.57%	2.66%	10.69%	8.38%	1.54%	3.76%	7.57%	2.95%	0.73%	2.72%

Frequently Asked Questions

Can I hold both PRRTX and PNSAX in my portfolio?

PRRTX and PNSAX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRRTX or PNSAX?

PNSAX has higher volatility (8.02%) compared to PRRTX (1.66%). In terms of maximum drawdown, PRRTX dropped -16.59% vs PNSAX's -69.47%.

Which has better risk-adjusted returns?

PRRTX currently has the higher Sharpe Ratio (1.12 vs 0.78), 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.