VEIPX vs. PEQSX

Last updated Jun 4, 2026

VEIPX (Vanguard Equity Income Fund Investor Shares) and PEQSX (Putnam Large Cap Value Fund Class R6) are both Large Cap Value Equities funds. Over the past 10 years, VEIPX returned 11.85%/yr vs 14.15%/yr for PEQSX. Their correlation of 0.95 suggests significant overlap in exposure. VEIPX charges 0.28%/yr vs 0.54%/yr for PEQSX.

Performance

VEIPX vs. PEQSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Equity Income Fund Investor Shares (VEIPX) and Putnam Large Cap Value Fund Class R6 (PEQSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VEIPX having a 9.70% return and PEQSX slightly higher at 10.03%. Over the past 10 years, VEIPX has underperformed PEQSX with an annualized return of 11.85%, while PEQSX has yielded a comparatively higher 14.15% annualized return.

VEIPX

• 1D: 0.79%
• 1M: 2.94%
• YTD: 9.70%
• 6M: 9.81%
• 1Y: 23.43%
• 3Y*: 17.52%
• 5Y*: 11.01%
• 10Y*: 11.85%

PEQSX

• 1D: 1.22%
• 1M: 4.01%
• YTD: 10.03%
• 6M: 12.04%
• 1Y: 27.49%
• 3Y*: 21.12%
• 5Y*: 13.62%
• 10Y*: 14.15%

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

VEIPX vs. PEQSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEIPX Vanguard Equity Income Fund Investor Shares	9.70%	17.14%	14.80%	7.66%	-0.16%	25.41%	2.97%	25.21%	-5.75%	17.60%
PEQSX Putnam Large Cap Value Fund Class R6	10.03%	20.49%	19.41%	15.45%	-2.74%	27.33%	6.23%	29.79%	-8.29%	19.15%

Correlation

The correlation between VEIPX and PEQSX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 3, 2012	0.95

The correlation between VEIPX and PEQSX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

VEIPX vs. PEQSX — Risk / Return Rank

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

VEIPX

VEIPX Risk / Return Rank: 67
VEIPX Sharpe Ratio Rank: 66
VEIPX Sortino Ratio Rank: 65
VEIPX Omega Ratio Rank: 60
VEIPX Calmar Ratio Rank: 75
VEIPX Martin Ratio Rank: 66

PEQSX

PEQSX Risk / Return Rank: 81
PEQSX Sharpe Ratio Rank: 84
PEQSX Sortino Ratio Rank: 80
PEQSX Omega Ratio Rank: 74
PEQSX Calmar Ratio Rank: 84
PEQSX Martin Ratio Rank: 81

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.

VEIPX vs. PEQSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Equity Income Fund Investor Shares (VEIPX) and Putnam Large Cap Value Fund Class R6 (PEQSX). 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.

	VEIPX	PEQSX	Difference
Sharpe ratio Return per unit of total volatility	2.38	2.69	-0.30
Sortino ratio Return per unit of downside risk	3.38	3.80	-0.42
Omega ratio Gain probability vs. loss probability	1.43	1.49	-0.05
Calmar ratio Return relative to maximum drawdown	3.42	3.93	-0.51
Martin ratio Return relative to average drawdown	12.78	15.33	-2.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEIPX vs. PEQSX - Sharpe Ratio Comparison

The current VEIPX Sharpe Ratio is 2.38, which is comparable to the PEQSX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of VEIPX and PEQSX, 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

	VEIPX	PEQSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	2.69	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.94	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.84	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.85	-0.19

Drawdowns

VEIPX vs. PEQSX - Drawdown Comparison

The maximum VEIPX drawdown since its inception was -54.12%, which is greater than PEQSX's maximum drawdown of -36.04%. Use the drawdown chart below to compare losses from any high point for VEIPX and PEQSX.

Drawdown Indicators

	VEIPX	PEQSX	Difference
Max Drawdown Largest peak-to-trough decline	-54.12%	-36.04%	-18.08%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-7.18%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-13.39%	-15.01%	+1.62%
Max Drawdown (5Y) Largest decline over 5 years	-15.16%	-15.18%	+0.02%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	-36.04%	+0.78%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.50%	-3.21%	-2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.84%	+0.07%

Volatility

VEIPX vs. PEQSX - Volatility Comparison

Vanguard Equity Income Fund Investor Shares (VEIPX) has a higher volatility of 2.83% compared to Putnam Large Cap Value Fund Class R6 (PEQSX) at 2.58%. This indicates that VEIPX's price experiences larger fluctuations and is considered to be riskier than PEQSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEIPX	PEQSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	2.58%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	8.03%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	10.50%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	14.50%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.30%	17.00%	-0.70%

VEIPX vs. PEQSX - Expense Ratio Comparison

VEIPX has a 0.28% expense ratio, which is lower than PEQSX's 0.54% expense ratio.

Dividends

VEIPX vs. PEQSX - Dividend Comparison

VEIPX's dividend yield for the trailing twelve months is around 10.03%, more than PEQSX's 5.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEQSX Putnam Large Cap Value Fund Class R6	5.11%	5.69%	7.14%	5.26%	7.40%	7.40%	6.30%	3.66%	6.08%	3.56%	2.66%	6.31%
VEIPX Vanguard Equity Income Fund Investor Shares	10.03%	10.94%	9.74%	7.87%	8.69%	7.62%	2.77%	4.36%	10.87%	2.98%	3.78%	6.39%

Frequently Asked Questions

Can I hold both VEIPX and PEQSX in my portfolio?

VEIPX and PEQSX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEIPX or PEQSX?

VEIPX has higher volatility (2.83%) compared to PEQSX (2.58%). In terms of maximum drawdown, VEIPX dropped -54.12% vs PEQSX's -36.04%.

Which has better risk-adjusted returns?

PEQSX currently has the higher Sharpe Ratio (2.69 vs 2.38), 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.