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 Equities 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. Their 0.45 correlation means their historical movements had little consistent relationship. PPEM charges 0.61%/yr vs 0.55%/yr for PHYD.
Performance
PPEM vs. PHYD - Performance Comparison
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Returns By Period
PPEM
- 1D
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- 1M
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- 6M
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- YTD
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- 1Y
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- 3Y*
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- 5Y*
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- 10Y*
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- ALL TIME*
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PHYD
- 1D
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- 1M
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- 6M
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- YTD
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- 1Y
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- 3Y*
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- 5Y*
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- 10Y*
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- ALL TIME*
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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 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. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 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.
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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.
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Drawdowns
PPEM vs. PHYD - Drawdown Comparison
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Volatility
PPEM vs. PHYD - Volatility Comparison
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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 - | 8.00% | 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 8.00% for PHYD.
PPEM is categorized as Emerging Markets Equities, while PHYD is High Yield Bonds. Their fees differ too: 0.61% for PPEM and 0.55% for PHYD.
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