PEMX vs. EMKT

Last updated Jun 4, 2026

PEMX (Putnam Emerging Markets Ex-China ETF) and EMKT (Lazard Emerging Markets Opportunities ETF) are both Emerging Markets Diversified funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. PEMX charges 0.85%/yr vs 0.74%/yr for EMKT.

Performance

PEMX vs. EMKT - Performance Comparison

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

Returns By Period

In the year-to-date period, PEMX achieves a 40.36% return, which is significantly higher than EMKT's 30.02% return.

PEMX

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

EMKT

• 1D: -1.45%
• 1M: 11.71%
• YTD: 30.02%
• 6M: 31.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PEMX vs. EMKT - Yearly Performance Comparison

	2026 (YTD)	2025
PEMX Putnam Emerging Markets Ex-China ETF	40.36%	3.39%
EMKT Lazard Emerging Markets Opportunities ETF	30.02%	-1.29%

Correlation

The correlation between PEMX and EMKT is 0.92, 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 Oct 28, 2025	0.92

Return for Risk

PEMX vs. EMKT — Risk / Return Rank

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

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.

PEMX vs. EMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Emerging Markets Ex-China ETF (PEMX) and Lazard Emerging Markets Opportunities ETF (EMKT). 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.

	PEMX	EMKT	Difference
Sharpe ratio: Return per unit of total volatility	3.52	—	—
Sortino ratio: Return per unit of downside risk	4.30	—	—
Omega ratio: Gain probability vs. loss probability	1.59	—	—
Calmar ratio: Return relative to maximum drawdown	5.24	—	—
Martin ratio: Return relative to average drawdown	20.66	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PEMX	EMKT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.99	2.33	-0.34

Drawdowns

PEMX vs. EMKT - Drawdown Comparison

The maximum PEMX drawdown since its inception was -14.91%, roughly equal to the maximum EMKT drawdown of -14.21%. Use the drawdown chart below to compare losses from any high point for PEMX and EMKT.

Drawdown Indicators

	PEMX	EMKT	Difference
Max Drawdown Largest peak-to-trough decline	-14.91%	-14.21%	-0.70%
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	-0.63%	-1.45%	+0.82%
Average Drawdown Average peak-to-trough decline	-2.84%	-3.04%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.66%	—	—

Volatility

Volatility by Period

	PEMX	EMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.51%	22.46%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.18%	22.46%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.18%	22.46%	-4.28%

PEMX vs. EMKT - Expense Ratio Comparison

PEMX has a 0.85% expense ratio, which is higher than EMKT's 0.74% expense ratio.

Dividends

PEMX vs. EMKT - Dividend Comparison

PEMX's dividend yield for the trailing twelve months is around 4.99%, while EMKT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
EMKT Lazard Emerging Markets Opportunities ETF	0.00%	0.00%	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 PEMX and EMKT in my portfolio?

With a correlation of 0.92, PEMX and EMKT 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, PEMX or EMKT?

On fees, EMKT is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PEMX or EMKT?

EMKT is cheaper with a 0.74% expense ratio, compared with 0.85% for PEMX.

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

PEMX has the higher dividend yield at 4.99%, compared with 0.00% for EMKT.

What is the main difference between PEMX and EMKT?

They also come from different issuers: Putnam and Lazard. Their fees differ too: 0.85% for PEMX and 0.74% for EMKT.