PPEM vs. AGZD
PPEM (Putnam Panagora ESG Emerging Markets Equity ETF -) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both exchange-traded funds - PPEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. Both are passively managed. Over the past 3 years, PPEM returned 24.99%/yr vs 5.79%/yr for AGZD. At a 0.05 correlation, their price movements are largely independent. PPEM charges 0.61%/yr vs 0.23%/yr for AGZD.
Performance
PPEM vs. AGZD - Performance Comparison
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Returns By Period
In the year-to-date period, PPEM achieves a 31.88% return, which is significantly higher than AGZD's 2.29% return.
PPEM
- 1D
- 0.56%
- 1M
- 4.33%
- YTD
- 31.88%
- 6M
- 33.23%
- 1Y
- 55.34%
- 3Y*
- 24.99%
- 5Y*
- —
- 10Y*
- —
AGZD
- 1D
- -0.07%
- 1M
- 0.11%
- YTD
- 2.29%
- 6M
- 2.30%
- 1Y
- 5.52%
- 3Y*
- 5.79%
- 5Y*
- 4.33%
- 10Y*
- 3.26%
PPEM vs. AGZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PPEM Putnam Panagora ESG Emerging Markets Equity ETF - | 31.88% | 35.39% | 7.50% | 0.19% |
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 2.29% | 4.35% | 6.64% | 6.68% |
Correlation
The correlation between PPEM and AGZD is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.05 |
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Return for Risk
PPEM vs. AGZD — Risk / Return Rank
PPEM
AGZD
PPEM vs. AGZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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.
| PPEM | AGZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.38 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 7.57 | -3.93 |
| Martin ratioReturn relative to average drawdown | 14.57 | 22.52 | -7.95 |
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Drawdowns
PPEM vs. AGZD - Drawdown Comparison
The maximum PPEM drawdown since its inception was -18.44%, which is greater than AGZD's maximum drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for PPEM and AGZD.
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Drawdown Indicators
| PPEM | AGZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.44% | -8.46% | -9.98% |
Max Drawdown (1Y)Largest decline over 1 year | -15.28% | -0.73% | -14.55% |
Max Drawdown (3Y)Largest decline over 3 years | -18.44% | -1.71% | -16.73% |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.46% | — |
Current DrawdownCurrent decline from peak | -1.80% | -0.56% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -0.77% | -3.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 0.25% | +3.56% |
Volatility
PPEM vs. AGZD - Volatility Comparison
Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) has a higher volatility of 7.94% compared to WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) at 1.15%. This indicates that PPEM's price experiences larger fluctuations and is considered to be riskier than AGZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPEM | AGZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.94% | 1.15% | +6.79% |
Volatility (6M)Calculated over the trailing 6-month period | 18.76% | 2.08% | +16.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.24% | 2.84% | +18.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.26% | 3.60% | +14.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.26% | 3.72% | +14.54% |
PPEM vs. AGZD - Expense Ratio Comparison
PPEM has a 0.61% expense ratio, which is higher than AGZD's 0.23% expense ratio.
Dividends
PPEM vs. AGZD - Dividend Comparison
PPEM's dividend yield for the trailing twelve months is around 49.06%, more than AGZD's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 3.99% | 4.12% | 3.96% | 6.07% | 8.61% | 1.66% | 2.28% | 2.83% | 2.62% | 2.31% | 1.81% | 1.66% |
PPEM Putnam Panagora ESG Emerging Markets Equity ETF - | 49.06% | 6.05% | 3.27% | 1.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PPEM and AGZD have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPEM has higher volatility (7.94%) compared to AGZD (1.15%). In terms of maximum drawdown, PPEM dropped -18.44% vs AGZD's -8.46%.
On 3-year performance, PPEM leads with 24.99% vs 5.79% for AGZD. On fees, AGZD is cheaper at 0.23% per year. On volatility, AGZD has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PPEM has performed better with a 24.99% return vs 5.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGZD is cheaper with a 0.23% expense ratio, compared with 0.61% for PPEM.
PPEM has the higher dividend yield at 49.06%, compared with 3.99% for AGZD.
PPEM is categorized as Emerging Markets Diversified, while AGZD is Nontraditional Bonds. PPEM tracks MSCI Emerging Markets Index, while AGZD tracks Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. They also come from different issuers: Putnam and WisdomTree. Their fees differ too: 0.61% for PPEM and 0.23% for AGZD.
PPEM currently has the higher Sharpe Ratio (2.62 vs 1.96), 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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