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PSDYX vs. TMPFX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSDYX vs. TMPFX

Last updated Jun 5, 2026

PSDYX (Putnam Ultra Short Duration Income Fund) and TMPFX (Tactical Multi-Purpose Fund) are both Ultrashort Bond funds. Over the past 5 years, PSDYX returned 3.37%/yr vs 2.67%/yr for TMPFX. At a correlation of -0.01, they often move in opposite directions. PSDYX charges 0.30%/yr vs 1.14%/yr for TMPFX.

Performance

PSDYX vs. TMPFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Ultra Short Duration Income Fund (PSDYX) and Tactical Multi-Purpose Fund (TMPFX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PSDYX achieves a 1.43% return, which is significantly lower than TMPFX's 1.52% return.

PSDYX

1D
0.00%
1M
0.35%
YTD
1.43%
6M
1.82%
1Y
4.39%
3Y*
4.87%
5Y*
3.37%
10Y*
2.53%

TMPFX

1D
0.00%
1M
0.30%
YTD
1.52%
6M
1.78%
1Y
3.82%
3Y*
3.99%
5Y*
2.67%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PSDYX vs. TMPFX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
PSDYX
Putnam Ultra Short Duration Income Fund		1.43%4.99%5.25%4.78%0.61%0.07%1.50%2.86%1.95%
TMPFX
Tactical Multi-Purpose Fund		1.52%3.71%4.26%3.90%0.51%-0.91%-0.60%0.30%-0.30%

Correlation

The correlation between PSDYX and TMPFX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.03

Correlation (3Y)
Calculated over the trailing 3-year period

0.00

Correlation (5Y)
Calculated over the trailing 5-year period

-0.00

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2018

-0.01

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Putnam Ultra Short Duration Income Fund

Tactical Multi-Purpose Fund

Often compared with PSDYX:
PSDYX vs. FTSMPSDYX vs. JPSTPSDYX vs. ICSHPSDYX vs. SPYPSDYX vs. PULSPSDYX vs. MINTPSDYX vs. ITOT
Often compared with TMPFX:
TMPFX vs. VUSBTMPFX vs. VBIRXTMPFX vs. FHCOXTMPFX vs. TSDOXTMPFX vs. BUSIXTMPFX vs. BBBIXTMPFX vs. MOOD

Return for Risk

PSDYX vs. TMPFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PSDYX
PSDYX Risk / Return Rank: 9898
Overall Rank
PSDYX Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
PSDYX Sortino Ratio Rank: 9999
Sortino Ratio Rank
PSDYX Omega Ratio Rank: 9999
Omega Ratio Rank
PSDYX Calmar Ratio Rank: 9898
Calmar Ratio Rank
PSDYX Martin Ratio Rank: 9999
Martin Ratio Rank
TMPFX
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.

PSDYX vs. TMPFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Ultra Short Duration Income Fund (PSDYX) and Tactical Multi-Purpose Fund (TMPFX). 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.

PSDYXTMPFXDifference
Sharpe ratioReturn per unit of total volatility
3.18
6.81

-3.63

Sortino ratioReturn per unit of downside risk
10.05

—

—

Omega ratioGain probability vs. loss probability

3.30

—

—

Calmar ratioReturn relative to maximum drawdown

8.96

—

—

Martin ratioReturn relative to average drawdown

44.19

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSDYX vs. TMPFX - Sharpe Ratio Comparison

The current PSDYX Sharpe Ratio is 3.18, which is lower than the TMPFX Sharpe Ratio of 6.81. The chart below compares the historical Sharpe Ratios of PSDYX and TMPFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PSDYXTMPFXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.18

6.81

-3.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

2.61

1.15

+1.46

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

2.41

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.19

0.81

+1.38

Drawdowns

PSDYX vs. TMPFX - Drawdown Comparison

The maximum PSDYX drawdown since its inception was -2.58%, smaller than the maximum TMPFX drawdown of -3.52%. Use the drawdown chart below to compare losses from any high point for PSDYX and TMPFX.

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Drawdown Indicators

PSDYXTMPFXDifference

Max Drawdown

Largest peak-to-trough decline

-2.58%

-3.52%

+0.94%

Max Drawdown (1Y)

Largest decline over 1 year

-0.49%

0.00%

-0.49%

Max Drawdown (3Y)

Largest decline over 3 years

-0.49%

-3.52%

+3.03%

Max Drawdown (5Y)

Largest decline over 5 years

-0.80%

-3.52%

+2.72%

Max Drawdown (10Y)

Largest decline over 10 years

-2.58%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-0.07%

-0.65%

+0.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.10%

0.00%

+0.10%

Volatility

PSDYX vs. TMPFX - Volatility Comparison

Putnam Ultra Short Duration Income Fund (PSDYX) has a higher volatility of 0.38% compared to Tactical Multi-Purpose Fund (TMPFX) at 0.16%. This indicates that PSDYX's price experiences larger fluctuations and is considered to be riskier than TMPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PSDYXTMPFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.38%

0.16%

+0.22%

Volatility (6M)

Calculated over the trailing 6-month period

0.93%

0.39%

+0.54%

Volatility (1Y)

Calculated over the trailing 1-year period

1.39%

0.56%

+0.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.30%

2.33%

-1.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.06%

1.81%

-0.75%

PSDYX vs. TMPFX - Expense Ratio Comparison

PSDYX has a 0.30% expense ratio, which is lower than TMPFX's 1.14% expense ratio.

Dividends

PSDYX vs. TMPFX - Dividend Comparison

PSDYX's dividend yield for the trailing twelve months is around 4.40%, more than TMPFX's 3.75% yield.

PositionTTM20252024202320222021202020192018201720162015
PSDYX
Putnam Ultra Short Duration Income Fund		4.40%4.65%4.81%3.65%1.30%0.37%1.09%2.51%2.23%1.29%0.88%0.57%
TMPFX
Tactical Multi-Purpose Fund		3.75%3.81%4.15%3.90%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

PSDYX and TMPFX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PSDYX has higher volatility (0.38%) compared to TMPFX (0.16%). In terms of maximum drawdown, PSDYX dropped -2.58% vs TMPFX's -3.52%.

TMPFX currently has the higher Sharpe Ratio (6.81 vs 3.18), 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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