DWMF vs. PPIE

Last updated Jul 14, 2026

DWMF (WisdomTree International Multifactor Fund) and PPIE (Putnam Panagora ESG International Equity ETF -) are both Foreign Large Cap Equities funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. DWMF charges 0.38%/yr vs 0.49%/yr for PPIE.

Performance

DWMF vs. PPIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International Multifactor Fund (DWMF) and Putnam Panagora ESG International Equity ETF - (PPIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DWMF

• 1D: -0.91%
• 1M: -0.53%
• 6M: 2.60%
• YTD: 5.04%
• 1Y: 11.18%
• 3Y*: 14.16%
• 5Y*: 8.53%
• 10Y*: —

PPIE

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DWMF vs. PPIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DWMF WisdomTree International Multifactor Fund	5.04%	24.42%	10.22%	7.08%
PPIE Putnam Panagora ESG International Equity ETF -	8.31%	32.77%	7.67%	9.74%

Correlation

The correlation between DWMF and PPIE is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.84

The correlation between DWMF and PPIE has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

DWMF vs. PPIE - Sectors Allocation Comparison

Sectors	DWMF	PPIE
Financial Services	19.9%	24.0%
Industrials	19.1%	21.7%
Consumer Defensive	11.3%	6.4%
Communication Services	9.4%	3.3%
Healthcare	9.1%	11.9%
Utilities	8.9%	3.2%
Real Estate	6.3%	0.9%
Consumer Cyclical	5.8%	5.9%
Technology	4.5%	14.2%
Basic Materials	3.9%	5.3%
Energy	1.9%	3.3%

Return for Risk

DWMF vs. PPIE — Risk / Return Rank

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

DWMF

DWMF Risk / Return Rank: 31
DWMF Sharpe Ratio Rank: 33
DWMF Sortino Ratio Rank: 31
DWMF Omega Ratio Rank: 31
DWMF Calmar Ratio Rank: 32
DWMF Martin Ratio Rank: 30

PPIE

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

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.

DWMF vs. PPIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International Multifactor Fund (DWMF) and Putnam Panagora ESG International Equity ETF - (PPIE). 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.

	DWMF	PPIE	Difference
Sharpe ratio: Return per unit of total volatility	0.94	—	—
Sortino ratio: Return per unit of downside risk	1.40	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.28	—	—
Martin ratio: Return relative to average drawdown	3.41	—	—

Drawdowns

Drawdown Indicators

	DWMF	PPIE	Difference
Max Drawdown Largest peak-to-trough decline	-29.72%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	—	—
Current Drawdown Current decline from peak	-4.24%	—	—
Average Drawdown Average peak-to-trough decline	-3.90%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	—	—

Volatility

Volatility by Period

	DWMF	PPIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.14%	—	—

DWMF vs. PPIE - Expense Ratio Comparison

DWMF has a 0.38% expense ratio, which is lower than PPIE's 0.49% expense ratio.

Dividends

DWMF vs. PPIE - Dividend Comparison

DWMF's dividend yield for the trailing twelve months is around 3.12%, while PPIE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DWMF WisdomTree International Multifactor Fund	3.12%	2.80%	3.50%	4.01%	3.41%	3.54%	2.06%	2.77%	1.15%
PPIE Putnam Panagora ESG International Equity ETF -	12.06%	8.40%	5.12%	3.30%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DWMF and PPIE in my portfolio?

DWMF and PPIE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DWMF or PPIE?

On fees, DWMF is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DWMF or PPIE?

DWMF is cheaper with a 0.38% expense ratio, compared with 0.49% for PPIE.

Which ETF pays a higher dividend yield, DWMF or PPIE?

PPIE has the higher dividend yield at 12.06%, compared with 3.12% for DWMF.

What is the main difference between DWMF and PPIE?

They also come from different issuers: WisdomTree and Putnam. Their fees differ too: 0.38% for DWMF and 0.49% for PPIE.