PPEM vs. AVES
PPEM (Putnam Panagora ESG Emerging Markets Equity ETF -) and AVES (Avantis Emerging Markets Value ETF) are both Emerging Markets Equities funds. PPEM is passively managed, while AVES is actively managed. Their correlation of 0.86 means they have usually moved in the same direction. PPEM charges 0.61%/yr vs 0.36%/yr for AVES.
Performance
PPEM vs. AVES - Performance Comparison
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Returns By Period
PPEM
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
AVES
- 1D
- -0.75%
- 1M
- -4.02%
- 6M
- 0.78%
- YTD
- 7.59%
- 1Y
- 19.41%
- 3Y*
- 14.88%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.66M | $7.29M | $6.23M |
PPEM vs. AVES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PPEM Putnam Panagora ESG Emerging Markets Equity ETF - | 31.88% | 35.39% | 7.50% | 0.19% |
AVES Avantis Emerging Markets Value ETF | 7.59% | 30.49% | 4.50% | 8.21% |
Correlation
The correlation between PPEM and AVES is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.86 |
The correlation between PPEM and AVES shifts across timeframes, from 0.75 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PPEM vs. AVES — Risk / Return Rank
PPEM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
AVES
PPEM vs. AVES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) and Avantis Emerging Markets Value ETF (AVES). 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 | AVES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.44 | — |
| Martin ratioReturn relative to average drawdown | — | 4.35 | — |
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Drawdowns
PPEM vs. AVES - Drawdown Comparison
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Drawdown Indicators
| PPEM | AVES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -27.40% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -12.90% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.50% | — |
Current DrawdownCurrent decline from peak | — | -9.48% | — |
Average DrawdownAverage peak-to-trough decline | — | -7.66% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.26% | — |
Volatility
PPEM vs. AVES - Volatility Comparison
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Volatility by Period
| PPEM | AVES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.96% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 18.01% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 20.01% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 17.49% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 17.49% | — |
PPEM vs. AVES - Expense Ratio Comparison
PPEM has a 0.61% expense ratio, which is higher than AVES's 0.36% expense ratio.
Dividends
PPEM vs. AVES - Dividend Comparison
PPEM has not paid dividends to shareholders, while AVES's dividend yield for the trailing twelve months is around 2.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 2.59% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% |
PPEM Putnam Panagora ESG Emerging Markets Equity ETF - | 49.06% | 6.05% | 3.27% | 1.94% | 0.00% | 0.00% |
Frequently Asked Questions
PPEM and AVES have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AVES is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AVES is cheaper with a 0.36% expense ratio, compared with 0.61% for PPEM.
PPEM has the higher dividend yield at 49.06%, compared with 2.59% for AVES.
They also come from different issuers: Putnam and Avantis. Their fees differ too: 0.61% for PPEM and 0.36% for AVES.
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