PSLAX vs. DEVLX
PSLAX (Putnam Small Cap Value Fund) and DEVLX (Delaware Small Cap Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, PSLAX returned 10.14%/yr vs 9.75%/yr for DEVLX. Their 0.95 correlation means they have historically moved very closely together. PSLAX charges 1.15%/yr vs 1.11%/yr for DEVLX.
Performance
PSLAX vs. DEVLX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PSLAX having a 19.75% return and DEVLX slightly higher at 20.06%. Both investments have delivered pretty close results over the past 10 years, with PSLAX having a 10.14% annualized return and DEVLX not far behind at 9.75%.
PSLAX
- 1D
- -0.05%
- 1M
- -1.12%
- 6M
- 13.64%
- YTD
- 19.75%
- 1Y
- 32.76%
- 3Y*
- 13.23%
- 5Y*
- 8.85%
- 10Y*
- 10.14%
- ALL TIME*
- 9.37%
DEVLX
- 1D
- 0.15%
- 1M
- -0.04%
- 6M
- 12.89%
- YTD
- 20.06%
- 1Y
- 31.07%
- 3Y*
- 13.26%
- 5Y*
- 8.49%
- 10Y*
- 9.75%
- ALL TIME*
- 10.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PSLAX vs. DEVLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSLAX Putnam Small Cap Value Fund | 19.75% | 5.26% | 6.19% | 23.54% | -13.42% | 39.51% | 3.60% | 24.33% | -20.19% | 7.55% |
DEVLX Delaware Small Cap Value Fund | 20.06% | 7.66% | 10.87% | 9.22% | -12.46% | 33.85% | -0.79% | 27.85% | -17.70% | 11.69% |
Correlation
The correlation between PSLAX and DEVLX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000 | 0.95 |
The correlation between PSLAX and DEVLX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
PSLAX vs. DEVLX — Risk / Return Rank
PSLAX
DEVLX
PSLAX vs. DEVLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Small Cap Value Fund (PSLAX) and Delaware Small Cap Value Fund (DEVLX). 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.
| PSLAX | DEVLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.30 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.96 | -0.23 |
| Martin ratioReturn relative to average drawdown | 8.04 | 10.45 | -2.41 |
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Drawdowns
PSLAX vs. DEVLX - Drawdown Comparison
The maximum PSLAX drawdown since its inception was -69.37%, which is greater than DEVLX's maximum drawdown of -60.08%. Use the drawdown chart below to compare losses from any high point for PSLAX and DEVLX.
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Drawdown Indicators
| PSLAX | DEVLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.37% | -60.08% | -9.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -9.44% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -25.63% | -24.80% | -0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -25.63% | -24.80% | -0.83% |
Max Drawdown (10Y)Largest decline over 10 years | -52.81% | -46.48% | -6.33% |
Current DrawdownCurrent decline from peak | -2.53% | -1.57% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -12.08% | -8.26% | -3.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 2.70% | +0.86% |
Volatility
PSLAX vs. DEVLX - Volatility Comparison
Putnam Small Cap Value Fund (PSLAX) has a higher volatility of 3.66% compared to Delaware Small Cap Value Fund (DEVLX) at 3.47%. This indicates that PSLAX's price experiences larger fluctuations and is considered to be riskier than DEVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSLAX | DEVLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 3.47% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.14% | 11.34% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.00% | 16.25% | +1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.54% | 20.74% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.58% | 23.41% | +0.17% |
PSLAX vs. DEVLX - Expense Ratio Comparison
PSLAX has a 1.15% expense ratio, which is higher than DEVLX's 1.11% expense ratio.
Dividends
PSLAX vs. DEVLX - Dividend Comparison
PSLAX's dividend yield for the trailing twelve months is around 5.69%, less than DEVLX's 11.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEVLX Delaware Small Cap Value Fund | 11.46% | 13.76% | 12.67% | 7.54% | 4.37% | 4.43% | 1.37% | 4.29% | 8.80% | 1.34% | 0.52% | 7.01% |
PSLAX Putnam Small Cap Value Fund | 5.69% | 6.81% | 5.67% | 1.21% | 8.40% | 0.20% | 0.90% | 1.33% | 21.52% | 38.15% | 0.66% | 5.38% |
Frequently Asked Questions
With a correlation of 0.90, PSLAX and DEVLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PSLAX has higher volatility (3.66%) compared to DEVLX (3.47%). In terms of maximum drawdown, PSLAX dropped -69.37% vs DEVLX's -60.08%.
DEVLX currently has the higher Sharpe Ratio (1.72 vs 1.60), 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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