PEMYX vs. PSDYX

Last updated Aug 4, 2026

PEMYX (Putnam Emerging Markets Equity Fund) and PSDYX (Putnam Ultra Short Duration Income Fund) are both mutual funds - PEMYX is a Emerging Markets Equities fund managed by Putnam, while PSDYX is a Ultrashort Bond fund managed by Putnam. Over the past 10 years, PEMYX returned 10.89%/yr vs 2.53%/yr for PSDYX. Their 0.01 correlation means their historical movements had little consistent relationship. PEMYX charges 1.08%/yr vs 0.30%/yr for PSDYX.

Performance

PEMYX vs. PSDYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Emerging Markets Equity Fund (PEMYX) and Putnam Ultra Short Duration Income Fund (PSDYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEMYX achieves a 20.03% return, which is significantly higher than PSDYX's 1.68% return. Over the past 10 years, PEMYX has outperformed PSDYX with an annualized return of 10.89%, while PSDYX has yielded a comparatively lower 2.53% annualized return.

PEMYX

• 1D: 2.17%
• 1M: -1.99%
• 6M: 9.84%
• YTD: 20.03%
• 1Y: 38.28%
• 3Y*: 23.38%
• 5Y*: 7.96%
• 10Y*: 10.89%
• ALL TIME*: 7.16%

PSDYX

• 1D: 0.00%
• 1M: -0.10%
• 6M: 1.31%
• YTD: 1.68%
• 1Y: 3.63%
• 3Y*: 4.59%
• 5Y*: 3.43%
• 10Y*: 2.53%
• ALL TIME*: 2.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PEMYX Putnam Emerging Markets Equity Fund	$0.00	$0.00	$0.00
PSDYX Putnam Ultra Short Duration Income Fund	$0.00	$0.00	$0.00

PEMYX vs. PSDYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEMYX Putnam Emerging Markets Equity Fund	20.03%	33.48%	16.22%	12.16%	-27.42%	-3.85%	37.11%	22.70%	-17.39%	42.73%
PSDYX Putnam Ultra Short Duration Income Fund	1.68%	4.99%	5.25%	4.78%	0.61%	0.07%	1.50%	2.86%	1.95%	1.40%

Correlation

The correlation between PEMYX and PSDYX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.04
Correlation (3Y) Balances recent behavior with more history.	0.02
Correlation (5Y) Shows whether the relationship held over a longer period.	0.03
Correlation (10Y) Provides a long-term view across more market conditions.	0.01
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.01

Return for Risk

PEMYX vs. PSDYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PEMYX

PEMYX Risk / Return Rank: 60
PEMYX Sharpe Ratio Rank: 58
PEMYX Sortino Ratio Rank: 47
PEMYX Omega Ratio Rank: 62
PEMYX Calmar Ratio Rank: 74
PEMYX Martin Ratio Rank: 60

PSDYX

PSDYX Risk / Return Rank: 99
PSDYX Sharpe Ratio Rank: 97
PSDYX Sortino Ratio Rank: 99
PSDYX Omega Ratio Rank: 99
PSDYX Calmar Ratio Rank: 98
PSDYX Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PEMYX vs. PSDYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Emerging Markets Equity Fund (PEMYX) and Putnam Ultra Short Duration Income Fund (PSDYX). 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.

	PEMYX	PSDYX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.88	-1.32
Sortino ratio: Return per unit of downside risk	2.06	9.06	-7.00
Omega ratio: Gain probability vs. loss probability	1.30	3.19	-1.89
Calmar ratio: Return relative to maximum drawdown	2.53	7.61	-5.09
Martin ratio: Return relative to average drawdown	8.32	37.11	-28.79

PEMYX vs. PSDYX - Sharpe Ratio Comparison

The current PEMYX Sharpe Ratio is 1.56, which is lower than the PSDYX Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of PEMYX and PSDYX, 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

PEMYX vs. PSDYX - Drawdown Comparison

The maximum PEMYX drawdown since its inception was -45.25%, which is greater than PSDYX's maximum drawdown of -2.58%. Use the drawdown chart below to compare losses from any high point for PEMYX and PSDYX.

Drawdown Indicators

	PEMYX	PSDYX	Difference
Max Drawdown Largest peak-to-trough decline	-45.25%	-2.58%	-42.67%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-0.49%	-13.97%
Max Drawdown (3Y) Largest decline over 3 years	-14.46%	-0.49%	-13.97%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-0.80%	-39.69%
Max Drawdown (10Y) Largest decline over 10 years	-45.16%	-2.58%	-42.58%
Current Drawdown Current decline from peak	-9.25%	-0.10%	-9.15%
Average Drawdown Average peak-to-trough decline	-16.28%	-0.07%	-16.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	0.10%	+4.28%

Volatility

PEMYX vs. PSDYX - Volatility Comparison

Putnam Emerging Markets Equity Fund (PEMYX) has a higher volatility of 10.16% compared to Putnam Ultra Short Duration Income Fund (PSDYX) at 0.17%. This indicates that PEMYX's price experiences larger fluctuations and is considered to be riskier than PSDYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEMYX	PSDYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.16%	0.17%	+9.99%
Volatility (6M) Calculated over the trailing 6-month period	21.54%	0.93%	+20.61%
Volatility (1Y) Calculated over the trailing 1-year period	23.37%	1.36%	+22.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.28%	1.31%	+16.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	1.06%	+17.37%

PEMYX vs. PSDYX - Expense Ratio Comparison

PEMYX has a 1.08% expense ratio, which is higher than PSDYX's 0.30% expense ratio.

Dividends

PEMYX vs. PSDYX - Dividend Comparison

PEMYX's dividend yield for the trailing twelve months is around 0.65%, less than PSDYX's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEMYX Putnam Emerging Markets Equity Fund	0.65%	0.78%	1.85%	0.99%	0.00%	5.27%	1.78%	1.40%	2.16%	0.24%	1.18%	1.50%
PSDYX Putnam Ultra Short Duration Income Fund	3.97%	4.65%	4.81%	3.65%	1.30%	0.37%	1.09%	2.51%	2.23%	1.29%	0.88%	0.57%

Frequently Asked Questions

Can I hold both PEMYX and PSDYX in my portfolio?

PEMYX and PSDYX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEMYX or PSDYX?

PEMYX has higher volatility (10.16%) compared to PSDYX (0.17%). In terms of maximum drawdown, PEMYX dropped -45.25% vs PSDYX's -2.58%.

Which has better risk-adjusted returns?

PSDYX currently has the higher Sharpe Ratio (2.88 vs 1.56), 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.