EFFE vs. PEMX

Last updated Jun 4, 2026

EFFE (Harbor Osmosis Emerging Markets Resource Efficient ETF) and PEMX (Putnam Emerging Markets Ex-China ETF) are both Emerging Markets Diversified funds. Both are actively managed. Over the past year, EFFE returned 44.45% vs 75.31% for PEMX. Their correlation of 0.81 suggests significant overlap in exposure. EFFE charges 0.69%/yr vs 0.85%/yr for PEMX.

Performance

EFFE vs. PEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) and Putnam Emerging Markets Ex-China ETF (PEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFFE achieves a 29.22% return, which is significantly lower than PEMX's 40.36% return.

EFFE

• 1D: -0.18%
• 1M: 17.03%
• YTD: 29.22%
• 6M: 28.14%
• 1Y: 44.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEMX

• 1D: -0.63%
• 1M: 11.09%
• YTD: 40.36%
• 6M: 45.50%
• 1Y: 75.31%
• 3Y*: 34.73%
• 5Y*: —
• 10Y*: —

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

EFFE vs. PEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	29.22%	22.42%	-0.84%
PEMX Putnam Emerging Markets Ex-China ETF	40.36%	34.01%	-0.05%

Correlation

The correlation between EFFE and PEMX is 0.82, 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	0.82
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.81

The correlation between EFFE and PEMX has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.

Return for Risk

EFFE vs. PEMX — Risk / Return Rank

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

EFFE

EFFE Risk / Return Rank: 68
EFFE Sharpe Ratio Rank: 69
EFFE Sortino Ratio Rank: 64
EFFE Omega Ratio Rank: 70
EFFE Calmar Ratio Rank: 66
EFFE Martin Ratio Rank: 69

PEMX

PEMX Risk / Return Rank: 90
PEMX Sharpe Ratio Rank: 93
PEMX Sortino Ratio Rank: 91
PEMX Omega Ratio Rank: 91
PEMX Calmar Ratio Rank: 88
PEMX Martin Ratio Rank: 90

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.

EFFE vs. PEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) 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.

	EFFE	PEMX	Difference
Sharpe ratio Return per unit of total volatility	2.22	3.52	-1.30
Sortino ratio Return per unit of downside risk	2.96	4.30	-1.35
Omega ratio Gain probability vs. loss probability	1.41	1.59	-0.18
Calmar ratio Return relative to maximum drawdown	3.25	5.24	-1.99
Martin ratio Return relative to average drawdown	12.62	20.66	-8.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFFE vs. PEMX - Sharpe Ratio Comparison

The current EFFE Sharpe Ratio is 2.22, which is lower than the PEMX Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of EFFE and PEMX, 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

	EFFE	PEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	3.52	-1.30
Sharpe Ratio (All Time) Calculated using the full available price history	1.85	1.99	-0.13

Drawdowns

EFFE vs. PEMX - Drawdown Comparison

The maximum EFFE drawdown since its inception was -13.75%, smaller than the maximum PEMX drawdown of -14.91%. Use the drawdown chart below to compare losses from any high point for EFFE and PEMX.

Drawdown Indicators

	EFFE	PEMX	Difference
Max Drawdown Largest peak-to-trough decline	-13.75%	-14.91%	+1.16%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-14.45%	+0.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.91%	—
Current Drawdown Current decline from peak	-0.18%	-0.63%	+0.45%
Average Drawdown Average peak-to-trough decline	-1.98%	-2.84%	+0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	3.66%	-0.13%

Volatility

EFFE vs. PEMX - Volatility Comparison

Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) and Putnam Emerging Markets Ex-China ETF (PEMX) have volatilities of 9.71% and 9.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFFE	PEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.71%	9.67%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	18.73%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	20.09%	21.51%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.91%	18.18%	+1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.91%	18.18%	+1.73%

EFFE vs. PEMX - Expense Ratio Comparison

EFFE has a 0.69% expense ratio, which is lower than PEMX's 0.85% expense ratio.

Dividends

EFFE vs. PEMX - Dividend Comparison

EFFE's dividend yield for the trailing twelve months is around 3.63%, less than PEMX's 4.99% yield.

Position	TTM	2025	2024	2023
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	3.63%	4.69%	0.00%	0.00%
PEMX Putnam Emerging Markets Ex-China ETF	4.99%	7.00%	5.00%	0.72%

Frequently Asked Questions

Can I hold both EFFE and PEMX in my portfolio?

EFFE and PEMX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFFE or PEMX?

EFFE has higher volatility (9.71%) compared to PEMX (9.67%). In terms of maximum drawdown, EFFE dropped -13.75% vs PEMX's -14.91%.

Which ETF is better, EFFE or PEMX?

On 1-year performance, PEMX leads with 75.31% vs 44.45% for EFFE. On fees, EFFE is cheaper at 0.69% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFFE or PEMX?

Over the 1-year period, PEMX has performed better with a 75.31% return vs 44.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFFE or PEMX?

EFFE is cheaper with a 0.69% expense ratio, compared with 0.85% for PEMX.

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

PEMX has the higher dividend yield at 4.99%, compared with 3.63% for EFFE.

What is the main difference between EFFE and PEMX?

They also come from different issuers: Harbor and Putnam. Their fees differ too: 0.69% for EFFE and 0.85% for PEMX.

Which has better risk-adjusted returns?

PEMX currently has the higher Sharpe Ratio (3.52 vs 2.22), 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.