PEMX vs. VWO
Compare and contrast key facts about Putnam Emerging Markets Ex-China ETF (PEMX) and Vanguard FTSE Emerging Markets ETF (VWO).
PEMX and VWO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PEMX is an actively managed fund by Putnam. It was launched on May 17, 2023. VWO is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging Index. It was launched on Mar 4, 2005.
Performance
PEMX vs. VWO - Performance Comparison
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PEMX vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PEMX Putnam Emerging Markets Ex-China ETF | 9.03% | 34.01% | 17.21% | 15.13% |
VWO Vanguard FTSE Emerging Markets ETF | 0.54% | 25.60% | 10.59% | 6.63% |
Returns By Period
In the year-to-date period, PEMX achieves a 9.03% return, which is significantly higher than VWO's 0.54% return.
PEMX
- 1D
- 4.10%
- 1M
- -9.83%
- YTD
- 9.03%
- 6M
- 19.84%
- 1Y
- 50.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VWO
- 1D
- 3.11%
- 1M
- -6.97%
- YTD
- 0.54%
- 6M
- 1.72%
- 1Y
- 22.75%
- 3Y*
- 13.73%
- 5Y*
- 3.84%
- 10Y*
- 7.63%
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PEMX vs. VWO - Expense Ratio Comparison
PEMX has a 0.85% expense ratio, which is higher than VWO's 0.08% expense ratio.
Return for Risk
PEMX vs. VWO — Risk / Return Rank
PEMX
VWO
PEMX vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Emerging Markets Ex-China ETF (PEMX) and Vanguard FTSE Emerging Markets ETF (VWO). 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 | VWO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.46 | 1.28 | +1.18 |
Sortino ratioReturn per unit of downside risk | 3.17 | 1.81 | +1.36 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.26 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 3.43 | 1.85 | +1.58 |
Martin ratioReturn relative to average drawdown | 14.24 | 7.12 | +7.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PEMX | VWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.28 | +1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.22 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.57 | 0.25 | +1.32 |
Correlation
The correlation between PEMX and VWO is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PEMX vs. VWO - Dividend Comparison
PEMX's dividend yield for the trailing twelve months is around 6.42%, more than VWO's 2.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEMX Putnam Emerging Markets Ex-China ETF | 6.42% | 7.00% | 5.00% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWO Vanguard FTSE Emerging Markets ETF | 2.68% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
Drawdowns
PEMX vs. VWO - Drawdown Comparison
The maximum PEMX drawdown since its inception was -14.91%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for PEMX and VWO.
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Drawdown Indicators
| PEMX | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.91% | -67.68% | +52.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.45% | -12.23% | -2.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -10.94% | -8.41% | -2.53% |
Average DrawdownAverage peak-to-trough decline | -2.88% | -15.93% | +13.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.18% | +0.30% |
Volatility
PEMX vs. VWO - Volatility Comparison
Putnam Emerging Markets Ex-China ETF (PEMX) has a higher volatility of 11.24% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 8.17%. This indicates that PEMX's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEMX | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.24% | 8.17% | +3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 15.87% | 12.26% | +3.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.48% | 17.83% | +2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.16% | 17.21% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 19.18% | -2.02% |