VEIPX vs. PEYAX
VEIPX (Vanguard Equity Income Fund Investor Shares) and PEYAX (Putnam Large Cap Value Fund) are both mutual funds - VEIPX is a Dividend fund actively managed by Vanguard, while PEYAX is a Large Cap Value Equities fund managed by Putnam. Over the past 10 years, VEIPX returned 11.77%/yr vs 13.41%/yr for PEYAX. Their correlation of 0.94 means they have usually moved in the same direction. VEIPX charges 0.28%/yr vs 0.90%/yr for PEYAX.
Performance
VEIPX vs. PEYAX - Performance Comparison
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Returns By Period
In the year-to-date period, VEIPX achieves a 11.80% return, which is significantly lower than PEYAX's 14.93% return. Over the past 10 years, VEIPX has underperformed PEYAX with an annualized return of 11.77%, while PEYAX has yielded a comparatively higher 13.41% annualized return.
VEIPX
- 1D
- 0.00%
- 1M
- 1.91%
- 6M
- 7.72%
- YTD
- 11.80%
- 1Y
- 23.19%
- 3Y*
- 15.55%
- 5Y*
- 11.63%
- 10Y*
- 11.77%
- ALL TIME*
- 10.38%
PEYAX
- 1D
- -0.04%
- 1M
- 2.57%
- 6M
- 10.21%
- YTD
- 14.93%
- 1Y
- 29.53%
- 3Y*
- 19.57%
- 5Y*
- 12.99%
- 10Y*
- 13.41%
- ALL TIME*
- 6.02%
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 |
VEIPX vs. PEYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEIPX Vanguard Equity Income Fund Investor Shares | 11.80% | 17.14% | 14.80% | 7.66% | -0.16% | 25.41% | 2.97% | 25.21% | -5.75% | 17.60% |
PEYAX Putnam Large Cap Value Fund | 14.93% | 20.09% | 18.99% | 15.09% | -8.37% | 26.84% | 5.87% | 29.94% | -8.63% | 18.79% |
Correlation
The correlation between VEIPX and PEYAX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 1988 | 0.94 |
The correlation between VEIPX and PEYAX has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.
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Return for Risk
VEIPX vs. PEYAX — Risk / Return Rank
VEIPX
PEYAX
VEIPX vs. PEYAX - 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 (PEYAX). 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.
| VEIPX | PEYAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.46 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 3.85 | -0.75 |
| Martin ratioReturn relative to average drawdown | 11.71 | 15.30 | -3.59 |
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Drawdowns
VEIPX vs. PEYAX - Drawdown Comparison
The maximum VEIPX drawdown since its inception was -54.12%, roughly equal to the maximum PEYAX drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for VEIPX and PEYAX.
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Drawdown Indicators
| VEIPX | PEYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.12% | -56.92% | +2.80% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -7.23% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -15.12% | +1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -15.16% | -15.31% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -35.26% | -36.06% | +0.80% |
Current DrawdownCurrent decline from peak | -0.85% | -0.04% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -14.01% | +8.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 1.82% | +0.07% |
Volatility
VEIPX vs. PEYAX - Volatility Comparison
The current volatility for Vanguard Equity Income Fund Investor Shares (VEIPX) is 2.57%, while Putnam Large Cap Value Fund (PEYAX) has a volatility of 3.09%. This indicates that VEIPX experiences smaller price fluctuations and is considered to be less risky than PEYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEIPX | PEYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 3.09% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 7.36% | 8.42% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.26% | 11.02% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.84% | 14.67% | -0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.25% | 17.01% | -0.76% |
VEIPX vs. PEYAX - Expense Ratio Comparison
VEIPX has a 0.28% expense ratio, which is lower than PEYAX's 0.90% expense ratio.
Dividends
VEIPX vs. PEYAX - Dividend Comparison
VEIPX's dividend yield for the trailing twelve months is around 9.83%, more than PEYAX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEYAX Putnam Large Cap Value Fund | 4.58% | 5.36% | 6.80% | 4.93% | 1.21% | 7.09% | 5.97% | 3.79% | 5.67% | 3.31% | 2.27% | 5.86% |
VEIPX Vanguard Equity Income Fund Investor Shares | 9.83% | 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
VEIPX and PEYAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEYAX has higher volatility (3.09%) compared to VEIPX (2.57%). In terms of maximum drawdown, VEIPX dropped -54.12% vs PEYAX's -56.92%.
PEYAX currently has the higher Sharpe Ratio (2.53 vs 2.18), 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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