PPEM vs. DIEM

Last updated Jul 17, 2026

PPEM (Putnam Panagora ESG Emerging Markets Equity ETF -) and DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) are both Emerging Markets Diversified funds - PPEM tracks the MSCI Emerging Markets Index while DIEM tracks the Morningstar Emerging Markets Dividend Enhanced Select Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. PPEM charges 0.61%/yr vs 0.19%/yr for DIEM.

Performance

PPEM vs. DIEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PPEM

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIEM

• 1D: -2.00%
• 1M: -6.03%
• 6M: 16.95%
• YTD: 23.35%
• 1Y: 38.88%
• 3Y*: 23.48%
• 5Y*: 10.89%
• 10Y*: 8.23%

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

PPEM vs. DIEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PPEM Putnam Panagora ESG Emerging Markets Equity ETF -	31.88%	35.39%	7.50%	0.19%
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	23.35%	30.81%	12.29%	6.60%

Correlation

The correlation between PPEM and DIEM is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.91

The correlation between PPEM and DIEM has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

Return for Risk

PPEM vs. DIEM — Risk / Return Rank

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

PPEM

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

DIEM

DIEM Risk / Return Rank: 71
DIEM Sharpe Ratio Rank: 69
DIEM Sortino Ratio Rank: 62
DIEM Omega Ratio Rank: 73
DIEM Calmar Ratio Rank: 77
DIEM Martin Ratio Rank: 74

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. DIEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). 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	DIEM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.77	—
Sortino ratio: Return per unit of downside risk	—	2.31	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	3.17	—
Martin ratio: Return relative to average drawdown	—	10.80	—

Drawdowns

Drawdown Indicators

	PPEM	DIEM	Difference
Max Drawdown Largest peak-to-trough decline	—	-38.61%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.33%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.61%	—
Current Drawdown Current decline from peak	—	-9.73%	—
Average Drawdown Average peak-to-trough decline	—	-9.66%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.61%	—

Volatility

Volatility by Period

	PPEM	DIEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	22.08%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.84%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.94%	—

PPEM vs. DIEM - Expense Ratio Comparison

PPEM has a 0.61% expense ratio, which is higher than DIEM's 0.19% expense ratio.

Dividends

PPEM vs. DIEM - Dividend Comparison

PPEM has not paid dividends to shareholders, while DIEM's dividend yield for the trailing twelve months is around 3.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	3.01%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%
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%

Frequently Asked Questions

Can I hold both PPEM and DIEM in my portfolio?

PPEM and DIEM have a correlation of 0.83, 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 DIEM?

On fees, DIEM is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPEM or DIEM?

DIEM is cheaper with a 0.19% expense ratio, compared with 0.61% for PPEM.

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

PPEM has the higher dividend yield at 49.06%, compared with 3.01% for DIEM.

What is the main difference between PPEM and DIEM?

PPEM tracks MSCI Emerging Markets Index, while DIEM tracks Morningstar Emerging Markets Dividend Enhanced Select Index. They also come from different issuers: Putnam and Franklin Templeton. Their fees differ too: 0.61% for PPEM and 0.19% for DIEM.