PMM vs. MLPR
Compare and contrast key facts about Putnam Managed Municipal Income Trust (PMM) and ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR).
MLPR is a passively managed fund by UBS that tracks the performance of the Alerian MLP Index (150%). It was launched on Jun 2, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PMM or MLPR.
Key characteristics
| PMM | MLPR | |
|---|---|---|
| YTD Return | 6.50% | 27.98% |
| 1Y Return | 13.70% | 30.34% |
| 3Y Return (Ann) | -5.19% | 32.15% |
| Sharpe Ratio | 1.25 | 1.46 |
| Sortino Ratio | 1.91 | 2.04 |
| Omega Ratio | 1.23 | 1.26 |
| Calmar Ratio | 0.53 | 2.47 |
| Martin Ratio | 6.10 | 7.54 |
| Ulcer Index | 2.48% | 4.09% |
| Daily Std Dev | 12.06% | 21.11% |
| Max Drawdown | -38.66% | -48.98% |
| Current Drawdown | -18.79% | -1.73% |
Correlation
The correlation between PMM and MLPR is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PMM vs. MLPR - Performance Comparison
In the year-to-date period, PMM achieves a 6.50% return, which is significantly lower than MLPR's 27.98% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
PMM vs. MLPR - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Managed Municipal Income Trust (PMM) and ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR). 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.
Dividends
PMM vs. MLPR - Dividend Comparison
PMM's dividend yield for the trailing twelve months is around 4.62%, less than MLPR's 9.84% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMM Putnam Managed Municipal Income Trust | 4.62% | 5.13% | 6.11% | 4.38% | 4.76% | 4.81% | 5.45% | 5.43% | 6.05% | 5.87% | 6.21% | 7.05% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 9.84% | 10.08% | 10.07% | 10.69% | 4.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PMM vs. MLPR - Drawdown Comparison
The maximum PMM drawdown since its inception was -38.66%, smaller than the maximum MLPR drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for PMM and MLPR. For additional features, visit the drawdowns tool.
Volatility
PMM vs. MLPR - Volatility Comparison
The current volatility for Putnam Managed Municipal Income Trust (PMM) is 3.15%, while ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) has a volatility of 8.32%. This indicates that PMM experiences smaller price fluctuations and is considered to be less risky than MLPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.