RWDIX vs. PMOTX
RWDIX (Redwood Managed Volatility Fund) and PMOTX (Putnam Mortgage Opportunities Fund) are both Nontraditional Bonds funds. Over the past 10 years, RWDIX returned 1.45%/yr vs 4.19%/yr for PMOTX. Their 0.14 correlation means their historical movements had little consistent relationship. RWDIX charges 1.56%/yr vs 0.47%/yr for PMOTX.
Performance
RWDIX vs. PMOTX - Performance Comparison
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Returns By Period
In the year-to-date period, RWDIX achieves a 0.97% return, which is significantly lower than PMOTX's 5.66% return. Over the past 10 years, RWDIX has underperformed PMOTX with an annualized return of 1.45%, while PMOTX has yielded a comparatively higher 4.19% annualized return.
RWDIX
- 1D
- 0.18%
- 1M
- -0.46%
- 6M
- 0.61%
- YTD
- 0.97%
- 1Y
- 3.98%
- 3Y*
- 4.24%
- 5Y*
- 0.03%
- 10Y*
- 1.45%
- ALL TIME*
- 1.75%
PMOTX
- 1D
- 0.11%
- 1M
- -0.03%
- 6M
- 5.12%
- YTD
- 5.66%
- 1Y
- 5.69%
- 3Y*
- 7.72%
- 5Y*
- 5.56%
- 10Y*
- 4.19%
- ALL TIME*
- 4.01%
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 |
RWDIX vs. PMOTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWDIX Redwood Managed Volatility Fund | 0.97% | 4.75% | 6.63% | 1.04% | -11.18% | 0.52% | -1.93% | 9.04% | -2.60% | 7.31% |
PMOTX Putnam Mortgage Opportunities Fund | 5.66% | 3.83% | 10.08% | 6.71% | 4.33% | -3.63% | -6.27% | 12.02% | 3.12% | 6.13% |
Correlation
The correlation between RWDIX and PMOTX is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.14 |
The correlation between RWDIX and PMOTX shifts across timeframes, from -0.04 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RWDIX vs. PMOTX — Risk / Return Rank
RWDIX
PMOTX
RWDIX vs. PMOTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Redwood Managed Volatility Fund (RWDIX) 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.
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.
| RWDIX | PMOTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.50 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 3.98 | -1.97 |
| Martin ratioReturn relative to average drawdown | 9.18 | 13.29 | -4.10 |
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Drawdowns
RWDIX vs. PMOTX - Drawdown Comparison
The maximum RWDIX drawdown since its inception was -16.69%, smaller than the maximum PMOTX drawdown of -17.57%. Use the drawdown chart below to compare losses from any high point for RWDIX and PMOTX.
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Drawdown Indicators
| RWDIX | PMOTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.69% | -17.57% | +0.88% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -1.56% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.72% | -1.77% | -2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -16.10% | -3.58% | -12.52% |
Max Drawdown (10Y)Largest decline over 10 years | -16.69% | -17.57% | +0.88% |
Current DrawdownCurrent decline from peak | -0.81% | -0.03% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -2.95% | -1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.47% | -0.05% |
Volatility
RWDIX vs. PMOTX - Volatility Comparison
Redwood Managed Volatility Fund (RWDIX) has a higher volatility of 0.59% compared to Putnam Mortgage Opportunities Fund (PMOTX) at 0.52%. This indicates that RWDIX's price experiences larger fluctuations and is considered to be riskier than PMOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWDIX | PMOTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.52% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 1.94% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.24% | 3.08% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.69% | 3.47% | +1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.24% | 4.72% | -0.48% |
RWDIX vs. PMOTX - Expense Ratio Comparison
RWDIX has a 1.56% expense ratio, which is higher than PMOTX's 0.47% expense ratio.
Dividends
RWDIX vs. PMOTX - Dividend Comparison
RWDIX's dividend yield for the trailing twelve months is around 5.14%, more than PMOTX's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMOTX Putnam Mortgage Opportunities Fund | 3.61% | 4.26% | 6.11% | 7.73% | 5.17% | 4.72% | 3.64% | 6.83% | 5.94% | 0.77% | 0.00% | 0.00% |
RWDIX Redwood Managed Volatility Fund | 5.14% | 4.90% | 5.82% | 7.60% | 0.47% | 6.36% | 5.42% | 3.59% | 2.59% | 5.52% | 5.14% | 1.17% |
Frequently Asked Questions
RWDIX and PMOTX have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWDIX has higher volatility (0.59%) compared to PMOTX (0.52%). In terms of maximum drawdown, RWDIX dropped -16.69% vs PMOTX's -17.57%.
PMOTX currently has the higher Sharpe Ratio (2.02 vs 1.76), 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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