MEMA vs. PPEM

Last updated Jul 18, 2026

MEMA (Man Active Emerging Markets Alternative ETF) and PPEM (Putnam Panagora ESG Emerging Markets Equity ETF -) are both Emerging Markets Diversified funds. MEMA is actively managed, while PPEM is passively managed. A 0.77 correlation means they provide meaningful diversification when combined. MEMA charges 0.85%/yr vs 0.61%/yr for PPEM.

Performance

MEMA vs. PPEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Man Active Emerging Markets Alternative ETF (MEMA) and Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MEMA

• 1D: -1.01%
• 1M: -8.94%
• 6M: 7.66%
• YTD: 14.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PPEM

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

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

MEMA vs. PPEM - Yearly Performance Comparison

	2026 (YTD)	2025
MEMA Man Active Emerging Markets Alternative ETF	14.06%	2.94%
PPEM Putnam Panagora ESG Emerging Markets Equity ETF -	31.88%	3.17%

Correlation

The correlation between MEMA and PPEM 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 (All Time) Calculated using the full available price history since Dec 17, 2025	0.77

Return for Risk

MEMA vs. PPEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Man Active Emerging Markets Alternative ETF (MEMA) and Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM). 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.

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

Drawdowns

Drawdown Indicators

	MEMA	PPEM	Difference
Max Drawdown Largest peak-to-trough decline	-13.12%	—	—
Current Drawdown Current decline from peak	-10.98%	—	—
Average Drawdown Average peak-to-trough decline	-3.41%	—	—

Volatility

Volatility by Period

	MEMA	PPEM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	28.36%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.36%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.36%	—	—

MEMA vs. PPEM - Expense Ratio Comparison

MEMA has a 0.85% expense ratio, which is higher than PPEM's 0.61% expense ratio.

Dividends

MEMA vs. PPEM - Dividend Comparison

MEMA's dividend yield for the trailing twelve months is around 0.30%, while PPEM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
MEMA Man Active Emerging Markets Alternative ETF	0.30%	0.00%	0.00%	0.00%
PPEM Putnam Panagora ESG Emerging Markets Equity ETF -	49.06%	6.05%	3.27%	1.94%

Frequently Asked Questions

Can I hold both MEMA and PPEM in my portfolio?

MEMA and PPEM 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, MEMA or PPEM?

On fees, PPEM is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MEMA or PPEM?

PPEM is cheaper with a 0.61% expense ratio, compared with 0.85% for MEMA.

Which ETF pays a higher dividend yield, MEMA or PPEM?

PPEM has the higher dividend yield at 49.06%, compared with 0.30% for MEMA.

What is the main difference between MEMA and PPEM?

They also come from different issuers: Man Group and Putnam. Their fees differ too: 0.85% for MEMA and 0.61% for PPEM.