BREE vs. PEMX

Last updated Jul 17, 2026

BREE (MFS Blended Research Emerging Markets Equity ETF) and PEMX (Putnam Emerging Markets Ex-China ETF) are both Emerging Markets Diversified funds. Both are actively managed. Their correlation of 0.94 suggests significant overlap in exposure. BREE charges 0.44%/yr vs 0.85%/yr for PEMX.

Performance

BREE vs. PEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Blended Research Emerging Markets Equity ETF (BREE) and Putnam Emerging Markets Ex-China ETF (PEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BREE

• 1D: -2.03%
• 1M: -6.17%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEMX

• 1D: -2.57%
• 1M: -8.61%
• 6M: 21.08%
• YTD: 28.43%
• 1Y: 48.15%
• 3Y*: 28.35%
• 5Y*: —
• 10Y*: —

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

BREE vs. PEMX - Yearly Performance Comparison

	2026 (YTD)
BREE MFS Blended Research Emerging Markets Equity ETF	5.00%
PEMX Putnam Emerging Markets Ex-China ETF	12.60%

Correlation

The correlation between BREE and PEMX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 5, 2026	0.94

Return for Risk

BREE vs. PEMX — Risk / Return Rank

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

BREE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PEMX

PEMX Risk / Return Rank: 73
PEMX Sharpe Ratio Rank: 72
PEMX Sortino Ratio Rank: 63
PEMX Omega Ratio Rank: 71
PEMX Calmar Ratio Rank: 80
PEMX Martin Ratio Rank: 76

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.

BREE vs. PEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Blended Research Emerging Markets Equity ETF (BREE) and Putnam Emerging Markets Ex-China ETF (PEMX). 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.

	BREE	PEMX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.85	—
Sortino ratio: Return per unit of downside risk	—	2.35	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	3.35	—
Martin ratio: Return relative to average drawdown	—	11.14	—

Drawdowns

BREE vs. PEMX - Drawdown Comparison

The maximum BREE drawdown since its inception was -12.31%, smaller than the maximum PEMX drawdown of -14.91%. Use the drawdown chart below to compare losses from any high point for BREE and PEMX.

Drawdown Indicators

	BREE	PEMX	Difference
Max Drawdown Largest peak-to-trough decline	-12.31%	-14.91%	+2.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.45%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.91%	—
Current Drawdown Current decline from peak	-9.13%	-13.13%	+4.00%
Average Drawdown Average peak-to-trough decline	-4.15%	-2.95%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.33%	—

Volatility

Volatility by Period

	BREE	PEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.43%	26.21%	+7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.43%	19.91%	+13.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.43%	19.91%	+13.52%

BREE vs. PEMX - Expense Ratio Comparison

BREE has a 0.44% expense ratio, which is lower than PEMX's 0.85% expense ratio.

Dividends

BREE vs. PEMX - Dividend Comparison

BREE has not paid dividends to shareholders, while PEMX's dividend yield for the trailing twelve months is around 5.45%.

Position	TTM	2025	2024	2023
BREE MFS Blended Research Emerging Markets Equity ETF	0.00%	0.00%	0.00%	0.00%
PEMX Putnam Emerging Markets Ex-China ETF	5.45%	7.00%	5.00%	0.72%

Frequently Asked Questions

Can I hold both BREE and PEMX in my portfolio?

With a correlation of 0.94, BREE and PEMX 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 ETF is better, BREE or PEMX?

On fees, BREE is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BREE or PEMX?

BREE is cheaper with a 0.44% expense ratio, compared with 0.85% for PEMX.

Which ETF pays a higher dividend yield, BREE or PEMX?

PEMX has the higher dividend yield at 5.45%, compared with 0.00% for BREE.

What is the main difference between BREE and PEMX?

They also come from different issuers: MFS and Putnam. Their fees differ too: 0.44% for BREE and 0.85% for PEMX.