PMO vs. MUNI
Compare and contrast key facts about Putnam Municipal Opportunities Trust (PMO) and PIMCO Intermediate Municipal Bond Active ETF (MUNI).
MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009.
Performance
PMO vs. MUNI - Performance Comparison
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PMO vs. MUNI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMO Putnam Municipal Opportunities Trust | -3.12% | 10.45% | 3.15% | -1.31% | -20.32% | 10.08% | 9.38% | 23.13% | -4.05% | 8.89% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 0.26% | 4.72% | 1.43% | 6.07% | -6.62% | 0.67% | 4.83% | 7.09% | 0.84% | 4.86% |
Returns By Period
In the year-to-date period, PMO achieves a -3.12% return, which is significantly lower than MUNI's 0.26% return. Over the past 10 years, PMO has outperformed MUNI with an annualized return of 2.75%, while MUNI has yielded a comparatively lower 2.18% annualized return.
PMO
- 1D
- -0.49%
- 1M
- -5.34%
- YTD
- -3.12%
- 6M
- 0.32%
- 1Y
- 4.89%
- 3Y*
- 4.00%
- 5Y*
- -0.82%
- 10Y*
- 2.75%
MUNI
- 1D
- 0.15%
- 1M
- -1.53%
- YTD
- 0.26%
- 6M
- 1.49%
- 1Y
- 4.51%
- 3Y*
- 3.39%
- 5Y*
- 1.33%
- 10Y*
- 2.18%
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Return for Risk
PMO vs. MUNI — Risk / Return Rank
PMO
MUNI
PMO vs. MUNI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Municipal Opportunities Trust (PMO) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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.
| PMO | MUNI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.50 | 1.18 | -0.68 |
Sortino ratioReturn per unit of downside risk | 0.76 | 1.58 | -0.82 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.30 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | 0.70 | 1.63 | -0.93 |
Martin ratioReturn relative to average drawdown | 2.15 | 5.45 | -3.30 |
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
| PMO | MUNI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.50 | 1.18 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.40 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.57 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.77 | -0.41 |
Correlation
The correlation between PMO and MUNI is 0.28, 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.
Dividends
PMO vs. MUNI - Dividend Comparison
PMO's dividend yield for the trailing twelve months is around 4.56%, more than MUNI's 3.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMO Putnam Municipal Opportunities Trust | 4.56% | 4.25% | 4.15% | 4.64% | 5.87% | 4.42% | 4.65% | 4.85% | 5.55% | 5.26% | 5.89% | 5.81% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.30% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
Drawdowns
PMO vs. MUNI - Drawdown Comparison
The maximum PMO drawdown since its inception was -36.46%, which is greater than MUNI's maximum drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for PMO and MUNI.
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Drawdown Indicators
| PMO | MUNI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.46% | -11.15% | -25.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.35% | -2.93% | -4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -36.46% | -11.15% | -25.31% |
Max Drawdown (10Y)Largest decline over 10 years | -36.46% | -11.15% | -25.31% |
Current DrawdownCurrent decline from peak | -16.02% | -1.75% | -14.27% |
Average DrawdownAverage peak-to-trough decline | -7.91% | -1.74% | -6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 0.88% | +1.58% |
Volatility
PMO vs. MUNI - Volatility Comparison
Putnam Municipal Opportunities Trust (PMO) has a higher volatility of 3.60% compared to PIMCO Intermediate Municipal Bond Active ETF (MUNI) at 1.07%. This indicates that PMO's price experiences larger fluctuations and is considered to be riskier than MUNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMO | MUNI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 1.07% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 6.00% | 1.52% | +4.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.84% | 3.86% | +5.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 3.30% | +11.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.26% | 3.85% | +10.41% |