PPEM vs. PHYD
PPEM (Putnam Panagora ESG Emerging Markets Equity ETF -) and PHYD (Putnam ESG High Yield ETF -) are both exchange-traded funds - PPEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while PHYD is a High Yield Bonds fund actively managed by Putnam. PPEM is passively managed, while PHYD is actively managed. At a 0.45 correlation, their price movements are largely independent. PPEM charges 0.61%/yr vs 0.55%/yr for PHYD.
Performance
PPEM vs. PHYD - Performance Comparison
Loading charts...
Returns By Period
PPEM
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PHYD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PPEM vs. PHYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PPEM Putnam Panagora ESG Emerging Markets Equity ETF - | 31.88% | 35.39% | 7.50% | 0.19% |
PHYD Putnam ESG High Yield ETF - | 2.32% | 8.84% | 7.35% | 8.30% |
Correlation
The correlation between PPEM and PHYD is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.45 |
The correlation between PPEM and PHYD has been stable across timeframes, ranging from 0.45 to 0.50 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PPEM vs. PHYD - 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 ESG High Yield ETF - (PHYD). 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.
Loading charts...
Drawdowns
PPEM vs. PHYD - Drawdown Comparison
Loading charts...
Volatility
PPEM vs. PHYD - Volatility Comparison
Loading charts...
PPEM vs. PHYD - Expense Ratio Comparison
PPEM has a 0.61% expense ratio, which is higher than PHYD's 0.55% expense ratio.
Dividends
PPEM vs. PHYD - Dividend Comparison
Neither PPEM nor PHYD has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PHYD Putnam ESG High Yield ETF - | 8.52% | 6.63% | 6.80% | 6.15% |
PPEM Putnam Panagora ESG Emerging Markets Equity ETF - | 49.06% | 6.05% | 3.27% | 1.94% |
Frequently Asked Questions
PPEM and PHYD have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PHYD is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PHYD is cheaper with a 0.55% expense ratio, compared with 0.61% for PPEM.
PPEM has the higher dividend yield at 49.06%, compared with 8.52% for PHYD.
PPEM is categorized as Emerging Markets Diversified, while PHYD is High Yield Bonds. Their fees differ too: 0.61% for PPEM and 0.55% for PHYD.
Find the right allocation for PPEM and PHYD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer