PWRIX vs. PMOTX

Last updated Jun 3, 2026

PWRIX (Donoghue Forlines Tactical Income Fund) and PMOTX (Putnam Mortgage Opportunities Fund) are both Nontraditional Bonds funds. Over the past 10 years, PWRIX returned 1.69%/yr vs 4.31%/yr for PMOTX. At a 0.15 correlation, their price movements are largely independent. PWRIX charges 1.53%/yr vs 0.47%/yr for PMOTX.

Performance

PWRIX vs. PMOTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Donoghue Forlines Tactical Income Fund (PWRIX) and Putnam Mortgage Opportunities Fund (PMOTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWRIX achieves a -0.25% return, which is significantly lower than PMOTX's 4.69% return. Over the past 10 years, PWRIX has underperformed PMOTX with an annualized return of 1.69%, while PMOTX has yielded a comparatively higher 4.31% annualized return.

PWRIX

• 1D: -0.11%
• 1M: 0.11%
• YTD: -0.25%
• 6M: -0.25%
• 1Y: 2.13%
• 3Y*: 4.67%
• 5Y*: 1.02%
• 10Y*: 1.69%

PMOTX

• 1D: 0.11%
• 1M: 1.59%
• YTD: 4.69%
• 6M: 3.40%
• 1Y: 6.30%
• 3Y*: 8.35%
• 5Y*: 4.67%
• 10Y*: 4.31%

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

PWRIX vs. PMOTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PWRIX Donoghue Forlines Tactical Income Fund	-0.25%	3.58%	4.57%	8.09%	-9.39%	3.11%	-4.54%	9.07%	-2.06%	3.43%
PMOTX Putnam Mortgage Opportunities Fund	4.69%	3.83%	10.08%	6.71%	4.33%	-3.63%	-6.27%	12.02%	3.12%	6.13%

Correlation

The correlation between PWRIX and PMOTX is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.15

The correlation between PWRIX and PMOTX shifts across timeframes, from 0.04 (3 years) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PWRIX vs. PMOTX — Risk / Return Rank

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

PWRIX

PWRIX Risk / Return Rank: 13
PWRIX Sharpe Ratio Rank: 14
PWRIX Sortino Ratio Rank: 13
PWRIX Omega Ratio Rank: 18
PWRIX Calmar Ratio Rank: 11
PWRIX Martin Ratio Rank: 10

PMOTX

PMOTX Risk / Return Rank: 64
PMOTX Sharpe Ratio Rank: 47
PMOTX Sortino Ratio Rank: 45
PMOTX Omega Ratio Rank: 75
PMOTX Calmar Ratio Rank: 85
PMOTX Martin Ratio Rank: 68

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.

PWRIX vs. PMOTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Donoghue Forlines Tactical Income Fund (PWRIX) and Putnam Mortgage Opportunities Fund (PMOTX). 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.

	PWRIX	PMOTX	Difference
Sharpe ratio Return per unit of total volatility	1.03	2.01	-0.98
Sortino ratio Return per unit of downside risk	1.52	2.83	-1.31
Omega ratio Gain probability vs. loss probability	1.22	1.49	-0.27
Calmar ratio Return relative to maximum drawdown	1.03	3.99	-2.96
Martin ratio Return relative to average drawdown	3.04	13.16	-10.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWRIX vs. PMOTX - Sharpe Ratio Comparison

The current PWRIX Sharpe Ratio is 1.03, which is lower than the PMOTX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of PWRIX and PMOTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PWRIX	PMOTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	2.01	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	1.33	-1.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.91	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.85	-0.36

Drawdowns

PWRIX vs. PMOTX - Drawdown Comparison

The maximum PWRIX drawdown since its inception was -14.55%, smaller than the maximum PMOTX drawdown of -17.57%. Use the drawdown chart below to compare losses from any high point for PWRIX and PMOTX.

Drawdown Indicators

	PWRIX	PMOTX	Difference
Max Drawdown Largest peak-to-trough decline	-14.55%	-17.57%	+3.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.09%	-1.56%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-2.92%	-1.77%	-1.15%
Max Drawdown (5Y) Largest decline over 5 years	-12.43%	-6.20%	-6.23%
Max Drawdown (10Y) Largest decline over 10 years	-14.55%	-17.57%	+3.02%
Current Drawdown Current decline from peak	-1.02%	-0.00%	-1.02%
Average Drawdown Average peak-to-trough decline	-2.96%	-2.99%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	0.47%	+0.23%

Volatility

PWRIX vs. PMOTX - Volatility Comparison

The current volatility for Donoghue Forlines Tactical Income Fund (PWRIX) is 0.86%, while Putnam Mortgage Opportunities Fund (PMOTX) has a volatility of 1.17%. This indicates that PWRIX experiences smaller price fluctuations and is considered to be less risky than PMOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWRIX	PMOTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	1.17%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	2.55%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	2.09%	3.11%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.38%	3.53%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.55%	4.73%	-0.18%

PWRIX vs. PMOTX - Expense Ratio Comparison

PWRIX has a 1.53% expense ratio, which is higher than PMOTX's 0.47% expense ratio.

Dividends

PWRIX vs. PMOTX - Dividend Comparison

PWRIX's dividend yield for the trailing twelve months is around 3.60%, less than PMOTX's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMOTX Putnam Mortgage Opportunities Fund	3.71%	4.26%	6.11%	7.73%	5.17%	4.72%	3.64%	6.83%	5.94%	0.77%	0.00%	0.00%
PWRIX Donoghue Forlines Tactical Income Fund	3.60%	2.17%	4.85%	3.78%	0.41%	2.88%	1.14%	1.79%	3.99%	3.91%	0.66%	1.96%

Frequently Asked Questions

Can I hold both PWRIX and PMOTX in my portfolio?

PWRIX and PMOTX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWRIX or PMOTX?

PMOTX has higher volatility (1.17%) compared to PWRIX (0.86%). In terms of maximum drawdown, PWRIX dropped -14.55% vs PMOTX's -17.57%.

Which has better risk-adjusted returns?

PMOTX currently has the higher Sharpe Ratio (2.01 vs 1.03), 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.