PYTRX vs. WFBIX
PYTRX (Putnam Fixed Income Absolute Return Fund) and WFBIX (iShares U.S. Aggregate Bond Index Fund) are both Intermediate Core Bond funds. Over the past 10 years, PYTRX returned 2.44%/yr vs 1.94%/yr for WFBIX. At a 0.23 correlation, their price movements are largely independent. PYTRX charges 0.46%/yr vs 0.05%/yr for WFBIX.
Performance
PYTRX vs. WFBIX - Performance Comparison
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Returns By Period
In the year-to-date period, PYTRX achieves a -0.15% return, which is significantly lower than WFBIX's 0.21% return. Over the past 10 years, PYTRX has outperformed WFBIX with an annualized return of 2.44%, while WFBIX has yielded a comparatively lower 1.94% annualized return.
PYTRX
- 1D
- -0.24%
- 1M
- -0.01%
- YTD
- -0.15%
- 6M
- -0.01%
- 1Y
- 4.30%
- 3Y*
- 4.01%
- 5Y*
- 0.98%
- 10Y*
- 2.44%
WFBIX
- 1D
- -0.22%
- 1M
- 0.11%
- YTD
- 0.21%
- 6M
- 0.32%
- 1Y
- 4.53%
- 3Y*
- 5.26%
- 5Y*
- 0.87%
- 10Y*
- 1.94%
PYTRX vs. WFBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYTRX Putnam Fixed Income Absolute Return Fund | -0.15% | 6.98% | 1.81% | 4.35% | -2.17% | -4.78% | 0.83% | 8.90% | -0.01% | 5.53% |
WFBIX iShares U.S. Aggregate Bond Index Fund | 0.21% | 7.16% | 1.43% | 9.65% | -13.03% | -1.79% | 7.40% | 8.72% | -0.08% | 3.39% |
Correlation
The correlation between PYTRX and WFBIX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012 | 0.23 |
Over the past year, PYTRX and WFBIX have become more correlated (0.92) than their long-term average of 0.23, meaning their price movements have been converging.
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Return for Risk
PYTRX vs. WFBIX — Risk / Return Rank
PYTRX
WFBIX
PYTRX vs. WFBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Fixed Income Absolute Return Fund (PYTRX) and iShares U.S. Aggregate Bond Index Fund (WFBIX). 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.
| PYTRX | WFBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.23 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.70 | -0.11 |
| Martin ratioReturn relative to average drawdown | 4.78 | 5.08 | -0.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PYTRX | WFBIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.30 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.14 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.38 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.94 | -0.37 |
Drawdowns
PYTRX vs. WFBIX - Drawdown Comparison
The maximum PYTRX drawdown since its inception was -12.75%, smaller than the maximum WFBIX drawdown of -18.68%. Use the drawdown chart below to compare losses from any high point for PYTRX and WFBIX.
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Drawdown Indicators
| PYTRX | WFBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.75% | -18.68% | +5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -3.02% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -6.09% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -11.85% | -17.84% | +5.99% |
Max Drawdown (10Y)Largest decline over 10 years | -12.75% | -18.68% | +5.93% |
Current DrawdownCurrent decline from peak | -2.04% | -1.71% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -2.26% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.01% | +0.03% |
Volatility
PYTRX vs. WFBIX - Volatility Comparison
The current volatility for Putnam Fixed Income Absolute Return Fund (PYTRX) is 1.23%, while iShares U.S. Aggregate Bond Index Fund (WFBIX) has a volatility of 1.31%. This indicates that PYTRX experiences smaller price fluctuations and is considered to be less risky than WFBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYTRX | WFBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.31% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 2.80% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.97% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 6.40% | -1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.01% | 5.17% | -1.16% |
PYTRX vs. WFBIX - Expense Ratio Comparison
PYTRX has a 0.46% expense ratio, which is higher than WFBIX's 0.05% expense ratio.
Dividends
PYTRX vs. WFBIX - Dividend Comparison
PYTRX's dividend yield for the trailing twelve months is around 4.02%, more than WFBIX's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYTRX Putnam Fixed Income Absolute Return Fund | 4.02% | 4.02% | 4.31% | 4.43% | 4.38% | 3.67% | 3.44% | 4.02% | 2.49% | 4.76% | 3.40% | 4.96% |
WFBIX iShares U.S. Aggregate Bond Index Fund | 3.91% | 3.78% | 3.68% | 6.82% | 2.60% | 2.04% | 2.43% | 2.88% | 2.71% | 2.24% | 2.25% | 2.20% |
Frequently Asked Questions
With a correlation of 0.92, PYTRX and WFBIX 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.
WFBIX has higher volatility (1.31%) compared to PYTRX (1.23%). In terms of maximum drawdown, PYTRX dropped -12.75% vs WFBIX's -18.68%.
PYTRX currently has the higher Sharpe Ratio (1.30 vs 1.30), 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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