SCGSX vs. POGAX

Last updated Jun 23, 2026

SCGSX (DWS Capital Growth Fund) and POGAX (Putnam Growth Opportunities Fund) are both Large Cap Growth Equities funds. Over the past 10 years, SCGSX returned 15.92%/yr vs 18.37%/yr for POGAX. With a 0.97 correlation, they move nearly in lockstep. SCGSX charges 0.66%/yr vs 0.99%/yr for POGAX.

Performance

SCGSX vs. POGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS Capital Growth Fund (SCGSX) and Putnam Growth Opportunities Fund (POGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCGSX achieves a 4.40% return, which is significantly lower than POGAX's 6.16% return. Over the past 10 years, SCGSX has underperformed POGAX with an annualized return of 15.92%, while POGAX has yielded a comparatively higher 18.37% annualized return.

SCGSX

• 1D: 1.91%
• 1M: 0.62%
• YTD: 4.40%
• 6M: 4.19%
• 1Y: 15.25%
• 3Y*: 18.08%
• 5Y*: 9.89%
• 10Y*: 15.92%

POGAX

• 1D: 1.57%
• 1M: -0.15%
• YTD: 6.16%
• 6M: 5.64%
• 1Y: 22.10%
• 3Y*: 21.69%
• 5Y*: 13.03%
• 10Y*: 18.37%

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

SCGSX vs. POGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCGSX DWS Capital Growth Fund	4.40%	12.34%	26.27%	38.61%	-30.88%	22.41%	38.60%	36.98%	-1.96%	26.27%
POGAX Putnam Growth Opportunities Fund	6.16%	14.28%	33.22%	44.22%	-30.43%	22.64%	38.44%	36.44%	2.29%	30.97%

Correlation

The correlation between SCGSX and POGAX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.97

The correlation between SCGSX and POGAX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

SCGSX vs. POGAX — Risk / Return Rank

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

SCGSX

SCGSX Risk / Return Rank: 11
SCGSX Sharpe Ratio Rank: 12
SCGSX Sortino Ratio Rank: 11
SCGSX Omega Ratio Rank: 12
SCGSX Calmar Ratio Rank: 9
SCGSX Martin Ratio Rank: 9

POGAX

POGAX Risk / Return Rank: 20
POGAX Sharpe Ratio Rank: 23
POGAX Sortino Ratio Rank: 21
POGAX Omega Ratio Rank: 22
POGAX Calmar Ratio Rank: 15
POGAX Martin Ratio Rank: 18

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.

SCGSX vs. POGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS Capital Growth Fund (SCGSX) and Putnam Growth Opportunities Fund (POGAX). 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.

	SCGSX	POGAX	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.29	-0.42
Sortino ratio: Return per unit of downside risk	1.27	1.80	-0.53
Omega ratio: Gain probability vs. loss probability	1.16	1.23	-0.07
Calmar ratio: Return relative to maximum drawdown	0.81	1.32	-0.50
Martin ratio: Return relative to average drawdown	2.58	4.31	-1.73

SCGSX vs. POGAX - Sharpe Ratio Comparison

The current SCGSX Sharpe Ratio is 0.87, which is lower than the POGAX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of SCGSX and POGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SCGSX vs. POGAX - Drawdown Comparison

The maximum SCGSX drawdown since its inception was -50.63%, smaller than the maximum POGAX drawdown of -76.55%. Use the drawdown chart below to compare losses from any high point for SCGSX and POGAX.

Drawdown Indicators

	SCGSX	POGAX	Difference
Max Drawdown Largest peak-to-trough decline	-50.63%	-76.55%	+25.92%
Max Drawdown (1Y) Largest decline over 1 year	-18.09%	-16.42%	-1.67%
Max Drawdown (3Y) Largest decline over 3 years	-21.75%	-23.66%	+1.91%
Max Drawdown (5Y) Largest decline over 5 years	-35.81%	-34.15%	-1.66%
Max Drawdown (10Y) Largest decline over 10 years	-35.81%	-34.15%	-1.66%
Current Drawdown Current decline from peak	-3.25%	-3.19%	-0.06%
Average Drawdown Average peak-to-trough decline	-12.78%	-28.99%	+16.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.66%	5.00%	+0.66%

Volatility

SCGSX vs. POGAX - Volatility Comparison

DWS Capital Growth Fund (SCGSX) has a higher volatility of 7.22% compared to Putnam Growth Opportunities Fund (POGAX) at 6.30%. This indicates that SCGSX's price experiences larger fluctuations and is considered to be riskier than POGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCGSX	POGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.22%	6.30%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	13.74%	13.24%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	16.76%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	21.78%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	21.27%	-0.69%

SCGSX vs. POGAX - Expense Ratio Comparison

SCGSX has a 0.66% expense ratio, which is lower than POGAX's 0.99% expense ratio.

Dividends

SCGSX vs. POGAX - Dividend Comparison

SCGSX's dividend yield for the trailing twelve months is around 7.30%, more than POGAX's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
POGAX Putnam Growth Opportunities Fund	5.35%	5.68%	4.58%	0.49%	7.80%	9.08%	3.29%	3.83%	7.98%	1.89%	0.01%	5.70%
SCGSX DWS Capital Growth Fund	7.30%	7.62%	9.06%	7.18%	7.81%	6.64%	5.59%	5.98%	17.00%	9.08%	8.49%	11.02%

Frequently Asked Questions

Can I hold both SCGSX and POGAX in my portfolio?

With a correlation of 0.95, SCGSX and POGAX 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.

Which is riskier, SCGSX or POGAX?

SCGSX has higher volatility (7.22%) compared to POGAX (6.30%). In terms of maximum drawdown, SCGSX dropped -50.63% vs POGAX's -76.55%.

Which has better risk-adjusted returns?

POGAX currently has the higher Sharpe Ratio (1.29 vs 0.87), 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.