VITAX vs. PGTYX

Last updated Jul 17, 2026

VITAX (Vanguard Information Technology Index Fund Admiral Shares) and PGTYX (Putnam Global Technology Fund) are both Technology Equities funds. Over the past 10 years, VITAX returned 24.76%/yr vs 24.64%/yr for PGTYX. Their correlation of 0.94 suggests significant overlap in exposure. VITAX charges 0.09%/yr vs 0.62%/yr for PGTYX.

Performance

VITAX vs. PGTYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Information Technology Index Fund Admiral Shares (VITAX) and Putnam Global Technology Fund (PGTYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VITAX achieves a 23.93% return, which is significantly lower than PGTYX's 31.56% return. Both investments have delivered pretty close results over the past 10 years, with VITAX having a 24.76% annualized return and PGTYX not far behind at 24.64%.

VITAX

• 1D: -0.53%
• 1M: -0.97%
• 6M: 23.04%
• YTD: 23.93%
• 1Y: 37.84%
• 3Y*: 28.34%
• 5Y*: 19.08%
• 10Y*: 24.76%

PGTYX

• 1D: 0.11%
• 1M: -2.18%
• 6M: 28.49%
• YTD: 31.56%
• 1Y: 46.08%
• 3Y*: 30.66%
• 5Y*: 16.80%
• 10Y*: 24.64%

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

VITAX vs. PGTYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VITAX Vanguard Information Technology Index Fund Admiral Shares	23.93%	21.78%	29.26%	52.69%	-29.67%	30.36%	45.93%	48.72%	2.51%	37.07%
PGTYX Putnam Global Technology Fund	31.56%	23.31%	27.88%	53.82%	-32.30%	11.72%	70.92%	47.50%	-6.72%	47.05%

Correlation

The correlation between VITAX and PGTYX 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	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 19, 2008	0.94

The correlation between VITAX and PGTYX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

VITAX vs. PGTYX — Risk / Return Rank

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

VITAX

VITAX Risk / Return Rank: 49
VITAX Sharpe Ratio Rank: 55
VITAX Sortino Ratio Rank: 45
VITAX Omega Ratio Rank: 46
VITAX Calmar Ratio Rank: 58
VITAX Martin Ratio Rank: 39

PGTYX

PGTYX Risk / Return Rank: 64
PGTYX Sharpe Ratio Rank: 67
PGTYX Sortino Ratio Rank: 52
PGTYX Omega Ratio Rank: 56
PGTYX Calmar Ratio Rank: 87
PGTYX Martin Ratio Rank: 58

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.

VITAX vs. PGTYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Information Technology Index Fund Admiral Shares (VITAX) and Putnam Global Technology Fund (PGTYX). 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.

	VITAX	PGTYX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.81	-0.16
Sortino ratio: Return per unit of downside risk	2.16	2.31	-0.15
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	2.36	3.41	-1.05
Martin ratio: Return relative to average drawdown	6.79	9.18	-2.39

VITAX vs. PGTYX - Sharpe Ratio Comparison

The current VITAX Sharpe Ratio is 1.65, which is comparable to the PGTYX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of VITAX and PGTYX, 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

VITAX vs. PGTYX - Drawdown Comparison

The maximum VITAX drawdown since its inception was -54.81%, which is greater than PGTYX's maximum drawdown of -42.09%. Use the drawdown chart below to compare losses from any high point for VITAX and PGTYX.

Drawdown Indicators

	VITAX	PGTYX	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-42.09%	-12.72%
Max Drawdown (1Y) Largest decline over 1 year	-16.38%	-13.58%	-2.80%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-28.36%	+0.98%
Max Drawdown (5Y) Largest decline over 5 years	-35.10%	-42.09%	+6.99%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	-42.09%	+6.99%
Current Drawdown Current decline from peak	-7.28%	-8.83%	+1.55%
Average Drawdown Average peak-to-trough decline	-8.01%	-6.61%	-1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.67%	5.03%	+0.64%

Volatility

VITAX vs. PGTYX - Volatility Comparison

The current volatility for Vanguard Information Technology Index Fund Admiral Shares (VITAX) is 9.06%, while Putnam Global Technology Fund (PGTYX) has a volatility of 10.33%. This indicates that VITAX experiences smaller price fluctuations and is considered to be less risky than PGTYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VITAX	PGTYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.06%	10.33%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	19.42%	21.94%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	23.41%	25.53%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.89%	25.65%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.04%	24.40%	+0.64%

VITAX vs. PGTYX - Expense Ratio Comparison

VITAX has a 0.09% expense ratio, which is lower than PGTYX's 0.62% expense ratio.

Dividends

VITAX vs. PGTYX - Dividend Comparison

VITAX's dividend yield for the trailing twelve months is around 0.37%, less than PGTYX's 8.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGTYX Putnam Global Technology Fund	8.23%	10.83%	6.40%	0.57%	1.71%	21.15%	13.60%	2.63%	9.44%	6.75%	1.01%	4.56%
VITAX Vanguard Information Technology Index Fund Admiral Shares	0.37%	0.40%	0.60%	0.65%	0.91%	0.63%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both VITAX and PGTYX in my portfolio?

With a correlation of 0.95, VITAX and PGTYX 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, VITAX or PGTYX?

PGTYX has higher volatility (10.33%) compared to VITAX (9.06%). In terms of maximum drawdown, VITAX dropped -54.81% vs PGTYX's -42.09%.

Which has better risk-adjusted returns?

PGTYX currently has the higher Sharpe Ratio (1.81 vs 1.65), 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.