PPEM vs. PGRI

Last updated Jul 17, 2026

PPEM (Putnam Panagora ESG Emerging Markets Equity ETF -) and PGRI (Putnam International Stock ETF) are both exchange-traded funds - PPEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while PGRI is a Actively Managed fund actively managed by Putnam. PPEM is passively managed, while PGRI is actively managed. A 0.69 correlation means they provide meaningful diversification when combined. PPEM charges 0.61%/yr vs 0.55%/yr for PGRI.

Performance

PPEM vs. PGRI - Performance Comparison

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

Returns By Period

PPEM

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

PGRI

• 1D: -1.21%
• 1M: -3.67%
• 6M: 2.15%
• YTD: 6.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PPEM vs. PGRI - Yearly Performance Comparison

	2026 (YTD)	2025
PPEM Putnam Panagora ESG Emerging Markets Equity ETF -	31.88%	1.73%
PGRI Putnam International Stock ETF	6.14%	-1.11%

Correlation

The correlation between PPEM and PGRI is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.69

Return for Risk

PPEM vs. PGRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG Emerging Markets Equity ETF - (PPEM) and Putnam International Stock ETF (PGRI). 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.

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

Drawdowns

Drawdown Indicators

	PPEM	PGRI	Difference
Max Drawdown Largest peak-to-trough decline	—	-12.87%	—
Current Drawdown Current decline from peak	—	-5.78%	—
Average Drawdown Average peak-to-trough decline	—	-3.09%	—

Volatility

Volatility by Period

	PPEM	PGRI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	20.74%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	20.74%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	20.74%	—

PPEM vs. PGRI - Expense Ratio Comparison

PPEM has a 0.61% expense ratio, which is higher than PGRI's 0.55% expense ratio.

Dividends

PPEM vs. PGRI - Dividend Comparison

PPEM has not paid dividends to shareholders, while PGRI's dividend yield for the trailing twelve months is around 0.12%.

Position	TTM	2025	2024	2023
PGRI Putnam International Stock ETF	0.12%	0.12%	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 PGRI in my portfolio?

PPEM and PGRI have a correlation of 0.69, 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 PGRI?

On fees, PGRI is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPEM or PGRI?

PGRI is cheaper with a 0.55% expense ratio, compared with 0.61% for PPEM.

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

PPEM has the higher dividend yield at 49.06%, compared with 0.12% for PGRI.

What is the main difference between PPEM and PGRI?

PPEM is categorized as Emerging Markets Diversified, while PGRI is Actively Managed. Their fees differ too: 0.61% for PPEM and 0.55% for PGRI.