TIBAX vs. PGEOX
TIBAX (Thornburg Investment Income Builder Fund) and PGEOX (George Putnam Balanced Fund) are both mutual funds - TIBAX is a Global Allocation fund managed by Thornburg, while PGEOX is a Diversified Portfolio fund managed by Putnam. Over the past 10 years, TIBAX returned 12.70%/yr vs 10.25%/yr for PGEOX. A 0.76 correlation means they provide meaningful diversification when combined. TIBAX charges 1.14%/yr vs 0.94%/yr for PGEOX.
Performance
TIBAX vs. PGEOX - Performance Comparison
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Returns By Period
In the year-to-date period, TIBAX achieves a 17.44% return, which is significantly higher than PGEOX's 7.40% return. Over the past 10 years, TIBAX has outperformed PGEOX with an annualized return of 12.70%, while PGEOX has yielded a comparatively lower 10.25% annualized return.
TIBAX
- 1D
- -0.10%
- 1M
- 0.51%
- YTD
- 17.44%
- 6M
- 18.19%
- 1Y
- 36.96%
- 3Y*
- 26.02%
- 5Y*
- 16.24%
- 10Y*
- 12.70%
PGEOX
- 1D
- -0.45%
- 1M
- 0.59%
- YTD
- 7.40%
- 6M
- 6.81%
- 1Y
- 19.13%
- 3Y*
- 17.08%
- 5Y*
- 9.15%
- 10Y*
- 10.25%
TIBAX vs. PGEOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIBAX Thornburg Investment Income Builder Fund | 17.44% | 36.62% | 13.23% | 18.01% | -7.95% | 20.08% | -0.67% | 17.72% | -4.54% | 14.83% |
PGEOX George Putnam Balanced Fund | 7.40% | 14.02% | 20.65% | 19.93% | -17.59% | 13.80% | 9.25% | 22.61% | -3.03% | 15.02% |
Correlation
The correlation between TIBAX and PGEOX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 2002 | 0.76 |
Over the past year, the correlation between TIBAX and PGEOX has dropped to 0.56 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.
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Return for Risk
TIBAX vs. PGEOX — Risk / Return Rank
TIBAX
PGEOX
TIBAX vs. PGEOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Investment Income Builder Fund (TIBAX) and George Putnam Balanced Fund (PGEOX). 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.
| TIBAX | PGEOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.93 | ||
| Sortino ratioReturn per unit of downside risk | +2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.85 | 1.44 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 6.86 | 3.50 | +3.36 |
| Martin ratioReturn relative to average drawdown | 26.22 | 15.81 | +10.40 |
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Drawdowns
TIBAX vs. PGEOX - Drawdown Comparison
The maximum TIBAX drawdown since its inception was -49.12%, roughly equal to the maximum PGEOX drawdown of -50.63%. Use the drawdown chart below to compare losses from any high point for TIBAX and PGEOX.
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Drawdown Indicators
| TIBAX | PGEOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.12% | -50.63% | +1.51% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -5.72% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -9.20% | -12.61% | +3.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.94% | -21.36% | +0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -34.85% | -23.00% | -11.85% |
Current DrawdownCurrent decline from peak | -0.40% | -1.37% | +0.97% |
Average DrawdownAverage peak-to-trough decline | -5.98% | -11.73% | +5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.26% | +0.16% |
Volatility
TIBAX vs. PGEOX - Volatility Comparison
The current volatility for Thornburg Investment Income Builder Fund (TIBAX) is 2.87%, while George Putnam Balanced Fund (PGEOX) has a volatility of 3.39%. This indicates that TIBAX experiences smaller price fluctuations and is considered to be less risky than PGEOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIBAX | PGEOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 3.39% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 7.32% | 6.95% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 8.61% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.15% | 11.49% | -0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.46% | 11.66% | +1.80% |
TIBAX vs. PGEOX - Expense Ratio Comparison
TIBAX has a 1.14% expense ratio, which is higher than PGEOX's 0.94% expense ratio.
Dividends
TIBAX vs. PGEOX - Dividend Comparison
TIBAX's dividend yield for the trailing twelve months is around 4.93%, less than PGEOX's 7.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGEOX George Putnam Balanced Fund | 7.63% | 8.13% | 7.99% | 1.10% | 0.89% | 7.75% | 1.05% | 5.22% | 9.04% | 1.10% | 1.18% | 1.13% |
TIBAX Thornburg Investment Income Builder Fund | 4.93% | 5.64% | 5.44% | 4.67% | 5.62% | 5.10% | 4.11% | 4.23% | 4.49% | 4.22% | 3.83% | 4.31% |
Frequently Asked Questions
TIBAX and PGEOX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGEOX has higher volatility (3.39%) compared to TIBAX (2.87%). In terms of maximum drawdown, TIBAX dropped -49.12% vs PGEOX's -50.63%.
TIBAX currently has the higher Sharpe Ratio (4.26 vs 2.33), 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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