PMO vs. PMM
Compare and contrast key facts about Putnam Municipal Opportunities Trust (PMO) and Putnam Managed Municipal Income Trust (PMM).
Performance
PMO vs. PMM - Performance Comparison
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PMO vs. PMM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMO Putnam Municipal Opportunities Trust | -2.65% | 10.45% | 3.15% | -1.31% | -20.32% | 10.08% | 9.38% | 23.13% | -4.05% | 8.89% |
PMM Putnam Managed Municipal Income Trust | -0.65% | 10.50% | 2.84% | 1.89% | -24.13% | 13.71% | 6.26% | 25.01% | -4.49% | 10.56% |
Fundamentals
PMO:
$282.21M
PMM:
$263.95M
PMO:
$3.07
PMM:
$1.84
PMO:
3.36
PMM:
3.33
PMO:
0.19
PMM:
0.01
PMO:
10.51
PMM:
8.44
PMO:
0.90
PMM:
0.92
PMO:
$27.18M
PMM:
$31.28M
PMO:
$18.84M
PMM:
$67.33M
PMO:
$86.11M
PMM:
$61.51M
Returns By Period
In the year-to-date period, PMO achieves a -2.65% return, which is significantly lower than PMM's -0.65% return. Over the past 10 years, PMO has underperformed PMM with an annualized return of 2.80%, while PMM has yielded a comparatively higher 2.99% annualized return.
PMO
- 1D
- 2.49%
- 1M
- -4.44%
- YTD
- -2.65%
- 6M
- 1.98%
- 1Y
- 5.82%
- 3Y*
- 4.17%
- 5Y*
- -0.73%
- 10Y*
- 2.80%
PMM
- 1D
- 3.36%
- 1M
- -4.24%
- YTD
- -0.65%
- 6M
- 4.48%
- 1Y
- 5.69%
- 3Y*
- 5.12%
- 5Y*
- -0.46%
- 10Y*
- 2.99%
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Return for Risk
PMO vs. PMM — Risk / Return Rank
PMO
PMM
PMO vs. PMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Municipal Opportunities Trust (PMO) and Putnam Managed Municipal Income Trust (PMM). 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 | PMM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.59 | 0.47 | +0.12 |
Sortino ratioReturn per unit of downside risk | 0.89 | 0.77 | +0.11 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.10 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.81 | 0.63 | +0.18 |
Martin ratioReturn relative to average drawdown | 2.51 | 1.75 | +0.77 |
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 | PMM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 0.47 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | -0.03 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.20 | 0.19 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.23 | +0.13 |
Correlation
The correlation between PMO and PMM is 0.39, 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. PMM - Dividend Comparison
PMO's dividend yield for the trailing twelve months is around 4.54%, less than PMM's 5.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMO Putnam Municipal Opportunities Trust | 4.54% | 4.25% | 4.15% | 4.64% | 5.87% | 4.42% | 4.65% | 4.85% | 5.55% | 5.26% | 5.89% | 5.81% |
PMM Putnam Managed Municipal Income Trust | 5.13% | 4.90% | 4.78% | 5.10% | 6.11% | 4.38% | 4.76% | 4.81% | 5.42% | 5.38% | 6.09% | 5.92% |
Drawdowns
PMO vs. PMM - Drawdown Comparison
The maximum PMO drawdown since its inception was -36.46%, smaller than the maximum PMM drawdown of -38.66%. Use the drawdown chart below to compare losses from any high point for PMO and PMM.
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Drawdown Indicators
| PMO | PMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.46% | -38.66% | +2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -8.21% | +0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -36.46% | -37.72% | +1.26% |
Max Drawdown (10Y)Largest decline over 10 years | -36.46% | -37.72% | +1.26% |
Current DrawdownCurrent decline from peak | -15.61% | -13.91% | -1.70% |
Average DrawdownAverage peak-to-trough decline | -7.91% | -11.04% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.96% | -0.52% |
Volatility
PMO vs. PMM - Volatility Comparison
The current volatility for Putnam Municipal Opportunities Trust (PMO) is 3.66%, while Putnam Managed Municipal Income Trust (PMM) has a volatility of 4.70%. This indicates that PMO experiences smaller price fluctuations and is considered to be less risky than PMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMO | PMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 4.70% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 5.98% | 7.78% | -1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.83% | 12.07% | -2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 17.03% | -2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.26% | 16.10% | -1.84% |
Financials
PMO vs. PMM - Financials Comparison
This section allows you to compare key financial metrics between Putnam Municipal Opportunities Trust and Putnam Managed Municipal Income Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities