PPEM vs. BREE

Last updated Jun 24, 2026

PPEM (Putnam Panagora ESG Emerging Markets Equity ETF -) and BREE (MFS Blended Research Emerging Markets Equity ETF) are both Emerging Markets Diversified funds. PPEM is passively managed, while BREE is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. PPEM charges 0.61%/yr vs 0.44%/yr for BREE.

Performance

PPEM vs. BREE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) and MFS Blended Research Emerging Markets Equity ETF (BREE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PPEM

• 1D: 0.56%
• 1M: 4.33%
• YTD: 31.88%
• 6M: 33.23%
• 1Y: 55.34%
• 3Y*: 24.99%
• 5Y*: —
• 10Y*: —

BREE

• 1D: -5.28%
• 1M: 3.88%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PPEM vs. BREE - Yearly Performance Comparison

	2026 (YTD)
PPEM Putnam Panagora ESG Emerging Markets Equity ETF -	17.97%
BREE MFS Blended Research Emerging Markets Equity ETF	9.44%

Correlation

The correlation between PPEM and BREE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 5, 2026	0.81

Return for Risk

PPEM vs. BREE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PPEM

PPEM Risk / Return Rank: 83
PPEM Sharpe Ratio Rank: 86
PPEM Sortino Ratio Rank: 84
PPEM Omega Ratio Rank: 87
PPEM Calmar Ratio Rank: 76
PPEM Martin Ratio Rank: 80

BREE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PPEM vs. BREE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) and MFS Blended Research Emerging Markets Equity ETF (BREE). 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	BREE	Difference
Sharpe ratio: Return per unit of total volatility	2.62	—	—
Sortino ratio: Return per unit of downside risk	3.48	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	3.64	—	—
Martin ratio: Return relative to average drawdown	14.57	—	—

Drawdowns

PPEM vs. BREE - Drawdown Comparison

The maximum PPEM drawdown since its inception was -18.44%, which is greater than BREE's maximum drawdown of -12.31%. Use the drawdown chart below to compare losses from any high point for PPEM and BREE.

Drawdown Indicators

	PPEM	BREE	Difference
Max Drawdown Largest peak-to-trough decline	-18.44%	-12.31%	-6.13%
Max Drawdown (1Y) Largest decline over 1 year	-15.28%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.44%	—	—
Current Drawdown Current decline from peak	-1.80%	-5.28%	+3.48%
Average Drawdown Average peak-to-trough decline	-4.19%	-3.77%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	—	—

Volatility

Volatility by Period

	PPEM	BREE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.24%	33.53%	-12.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.26%	33.53%	-15.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.26%	33.53%	-15.27%

PPEM vs. BREE - Expense Ratio Comparison

PPEM has a 0.61% expense ratio, which is higher than BREE's 0.44% expense ratio.

Dividends

PPEM vs. BREE - Dividend Comparison

PPEM's dividend yield for the trailing twelve months is around 49.06%, while BREE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BREE MFS Blended Research Emerging Markets Equity ETF	0.00%	0.00%	0.00%	0.00%
PPEM Putnam Panagora ESG Emerging Markets Equity ETF -	49.06%	6.05%	3.27%	1.94%

Frequently Asked Questions

Can I hold both PPEM and BREE in my portfolio?

PPEM and BREE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PPEM or BREE?

On fees, BREE is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPEM or BREE?

BREE is cheaper with a 0.44% expense ratio, compared with 0.61% for PPEM.

Which ETF pays a higher dividend yield, PPEM or BREE?

PPEM has the higher dividend yield at 49.06%, compared with 0.00% for BREE.

What is the main difference between PPEM and BREE?

They also come from different issuers: Putnam and MFS. Their fees differ too: 0.61% for PPEM and 0.44% for BREE.