EICIX vs. PEMX

Last updated Jun 13, 2026

EICIX (EIC Value Fund) and PEMX (Putnam Emerging Markets Ex-China ETF) are both funds - EICIX is a Large Cap Value Equities fund managed by Equity Investment Corp, while PEMX is a Emerging Markets Diversified fund actively managed by Putnam. Over the past 3 years, EICIX returned 15.33%/yr vs 32.32%/yr for PEMX. At a 0.38 correlation, their price movements are largely independent. EICIX charges 0.95%/yr vs 0.85%/yr for PEMX.

Performance

EICIX vs. PEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in EIC Value Fund (EICIX) 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, EICIX achieves a 5.81% return, which is significantly lower than PEMX's 37.04% return.

EICIX

• 1D: 0.80%
• 1M: 4.47%
• YTD: 5.81%
• 6M: 4.81%
• 1Y: 13.57%
• 3Y*: 15.33%
• 5Y*: 10.21%
• 10Y*: 11.48%

PEMX

• 1D: 0.38%
• 1M: 8.00%
• YTD: 37.04%
• 6M: 41.88%
• 1Y: 68.11%
• 3Y*: 32.32%
• 5Y*: —
• 10Y*: —

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

EICIX vs. PEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EICIX EIC Value Fund	5.81%	16.01%	11.55%	13.51%
PEMX Putnam Emerging Markets Ex-China ETF	37.04%	34.01%	17.21%	15.13%

Correlation

The correlation between EICIX and PEMX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since May 18, 2023	0.38

Return for Risk

EICIX vs. PEMX — Risk / Return Rank

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

EICIX

EICIX Risk / Return Rank: 23
EICIX Sharpe Ratio Rank: 24
EICIX Sortino Ratio Rank: 25
EICIX Omega Ratio Rank: 22
EICIX Calmar Ratio Rank: 26
EICIX Martin Ratio Rank: 18

PEMX

PEMX Risk / Return Rank: 89
PEMX Sharpe Ratio Rank: 92
PEMX Sortino Ratio Rank: 86
PEMX Omega Ratio Rank: 89
PEMX Calmar Ratio Rank: 88
PEMX Martin Ratio Rank: 89

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.

EICIX vs. PEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for EIC Value Fund (EICIX) 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.

	EICIX	PEMX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.79	-1.65
Sortino ratio: Return per unit of downside risk	1.71	3.40	-1.69
Omega ratio: Gain probability vs. loss probability	1.20	1.49	-0.29
Calmar ratio: Return relative to maximum drawdown	1.54	4.56	-3.03
Martin ratio: Return relative to average drawdown	3.81	17.36	-13.55

EICIX vs. PEMX - Sharpe Ratio Comparison

The current EICIX Sharpe Ratio is 1.14, which is lower than the PEMX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of EICIX 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.

Drawdowns

EICIX vs. PEMX - Drawdown Comparison

The maximum EICIX drawdown since its inception was -34.26%, which is greater than PEMX's maximum drawdown of -14.91%. Use the drawdown chart below to compare losses from any high point for EICIX and PEMX.

Drawdown Indicators

	EICIX	PEMX	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-14.91%	-19.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-14.45%	+5.90%
Max Drawdown (3Y) Largest decline over 3 years	-11.10%	-14.91%	+3.81%
Max Drawdown (5Y) Largest decline over 5 years	-17.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.26%	—	—
Current Drawdown Current decline from peak	-3.66%	-2.98%	-0.68%
Average Drawdown Average peak-to-trough decline	-3.41%	-2.86%	-0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	3.79%	-0.40%

Volatility

EICIX vs. PEMX - Volatility Comparison

The current volatility for EIC Value Fund (EICIX) is 2.99%, while Putnam Emerging Markets Ex-China ETF (PEMX) has a volatility of 12.65%. This indicates that EICIX experiences smaller price fluctuations and is considered to be less risky than PEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EICIX	PEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	12.65%	-9.66%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	21.23%	-13.07%
Volatility (1Y) Calculated over the trailing 1-year period	11.55%	23.64%	-12.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	18.94%	-4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	18.94%	-2.67%

EICIX vs. PEMX - Expense Ratio Comparison

EICIX has a 0.95% expense ratio, which is higher than PEMX's 0.85% expense ratio.

Dividends

EICIX vs. PEMX - Dividend Comparison

EICIX's dividend yield for the trailing twelve months is around 8.46%, more than PEMX's 5.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EICIX EIC Value Fund	8.46%	8.95%	9.47%	4.09%	6.07%	11.14%	6.05%	7.71%	10.82%	8.51%	2.03%	3.42%
PEMX Putnam Emerging Markets Ex-China ETF	5.11%	7.00%	5.00%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EICIX and PEMX in my portfolio?

EICIX and PEMX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EICIX or PEMX?

PEMX has higher volatility (12.65%) compared to EICIX (2.99%). In terms of maximum drawdown, EICIX dropped -34.26% vs PEMX's -14.91%.

Which has better risk-adjusted returns?

PEMX currently has the higher Sharpe Ratio (2.79 vs 1.14), 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.