PFUT vs. SMMU
PFUT (Putnam Sustainable Future ETF) and SMMU (PIMCO Short Term Municipal Bond Active ETF) are both exchange-traded funds - PFUT is a Sustainable fund actively managed by Power Corporation of Canada, while SMMU is a Municipal Bonds fund actively managed by PIMCO. Both are actively managed. Over the past 5 years, PFUT returned 0.95%/yr vs 1.90%/yr for SMMU. At a 0.16 correlation, their price movements are largely independent. PFUT charges 0.64%/yr vs 0.35%/yr for SMMU.
Performance
PFUT vs. SMMU - Performance Comparison
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Returns By Period
In the year-to-date period, PFUT achieves a 4.40% return, which is significantly higher than SMMU's 1.10% return.
PFUT
- 1D
- -0.60%
- 1M
- 4.24%
- YTD
- 4.40%
- 6M
- 1.67%
- 1Y
- 6.81%
- 3Y*
- 12.28%
- 5Y*
- 0.95%
- 10Y*
- —
SMMU
- 1D
- 0.07%
- 1M
- 0.31%
- YTD
- 1.10%
- 6M
- 1.36%
- 1Y
- 3.92%
- 3Y*
- 3.67%
- 5Y*
- 1.90%
- 10Y*
- 1.82%
PFUT vs. SMMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFUT Putnam Sustainable Future ETF | 4.40% | 2.22% | 13.60% | 29.98% | -33.60% | 0.62% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 1.10% | 4.06% | 2.68% | 4.39% | -2.45% | -0.06% |
Correlation
The correlation between PFUT and SMMU is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 27, 2021 | 0.16 |
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Return for Risk
PFUT vs. SMMU — Risk / Return Rank
PFUT
SMMU
PFUT vs. SMMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Sustainable Future ETF (PFUT) and PIMCO Short Term Municipal Bond Active ETF (SMMU). 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.
| PFUT | SMMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.42 | ||
| Sortino ratioReturn per unit of downside risk | -5.11 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.90 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 5.10 | -4.64 |
| Martin ratioReturn relative to average drawdown | 1.33 | 18.24 | -16.92 |
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
| PFUT | SMMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 3.84 | -3.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 1.14 | -1.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.60 | -0.56 |
Drawdowns
PFUT vs. SMMU - Drawdown Comparison
The maximum PFUT drawdown since its inception was -44.86%, which is greater than SMMU's maximum drawdown of -5.09%. Use the drawdown chart below to compare losses from any high point for PFUT and SMMU.
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Drawdown Indicators
| PFUT | SMMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -5.09% | -39.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.88% | -0.77% | -14.11% |
Max Drawdown (3Y)Largest decline over 3 years | -27.57% | -1.95% | -25.62% |
Max Drawdown (5Y)Largest decline over 5 years | -44.86% | -4.76% | -40.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.09% | — |
Current DrawdownCurrent decline from peak | -8.01% | -0.03% | -7.98% |
Average DrawdownAverage peak-to-trough decline | -21.11% | -0.55% | -20.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.14% | 0.22% | +4.92% |
Volatility
PFUT vs. SMMU - Volatility Comparison
Putnam Sustainable Future ETF (PFUT) has a higher volatility of 4.08% compared to PIMCO Short Term Municipal Bond Active ETF (SMMU) at 0.31%. This indicates that PFUT's price experiences larger fluctuations and is considered to be riskier than SMMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFUT | SMMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 0.31% | +3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 12.59% | 0.79% | +11.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 1.02% | +15.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.75% | 1.67% | +20.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 2.73% | +18.98% |
PFUT vs. SMMU - Expense Ratio Comparison
PFUT has a 0.64% expense ratio, which is higher than SMMU's 0.35% expense ratio.
Dividends
PFUT vs. SMMU - Dividend Comparison
PFUT has not paid dividends to shareholders, while SMMU's dividend yield for the trailing twelve months is around 2.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFUT Putnam Sustainable Future ETF | 0.00% | 0.00% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 2.84% | 2.80% | 3.03% | 2.79% | 1.37% | 0.60% | 1.19% | 1.82% | 1.57% | 1.41% | 1.03% | 0.89% |
Frequently Asked Questions
PFUT and SMMU have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFUT has higher volatility (4.08%) compared to SMMU (0.31%). In terms of maximum drawdown, PFUT dropped -44.86% vs SMMU's -5.09%.
On 5-year performance, SMMU leads with 1.90% vs 0.95% for PFUT. On fees, SMMU is cheaper at 0.35% per year. On volatility, SMMU has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SMMU has performed better with a 1.90% return vs 0.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMMU is cheaper with a 0.35% expense ratio, compared with 0.64% for PFUT.
SMMU has the higher dividend yield at 2.84%, compared with 0.00% for PFUT.
PFUT is categorized as Sustainable, while SMMU is Municipal Bonds. They also come from different issuers: Power Corporation of Canada and PIMCO. Their fees differ too: 0.64% for PFUT and 0.35% for SMMU.
SMMU currently has the higher Sharpe Ratio (3.84 vs 0.42), 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.
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