PPIE vs. DWMF

Last updated Jul 12, 2026

PPIE (Putnam Panagora ESG International Equity ETF -) and DWMF (WisdomTree International Multifactor Fund) are both Foreign Large Cap Equities funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. PPIE charges 0.49%/yr vs 0.38%/yr for DWMF.

Performance

PPIE vs. DWMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Panagora ESG International Equity ETF - (PPIE) and WisdomTree International Multifactor Fund (DWMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PPIE

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

DWMF

• 1D: -0.91%
• 1M: -0.53%
• 6M: 2.60%
• YTD: 5.04%
• 1Y: 11.18%
• 3Y*: 14.16%
• 5Y*: 8.53%
• 10Y*: —

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

PPIE vs. DWMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PPIE Putnam Panagora ESG International Equity ETF -	8.31%	32.77%	7.67%	9.74%
DWMF WisdomTree International Multifactor Fund	5.04%	24.42%	10.22%	7.08%

Correlation

The correlation between PPIE and DWMF is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.84

The correlation between PPIE and DWMF has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

PPIE vs. DWMF - Sectors Allocation Comparison

Sectors	PPIE	DWMF
Financial Services	24.0%	19.9%
Industrials	21.7%	19.1%
Technology	14.2%	4.5%
Healthcare	11.9%	9.1%
Consumer Defensive	6.4%	11.3%
Consumer Cyclical	5.9%	5.8%
Basic Materials	5.3%	3.9%
Communication Services	3.3%	9.4%
Energy	3.3%	1.9%
Utilities	3.2%	8.9%
Real Estate	0.9%	6.3%

Return for Risk

PPIE vs. DWMF — Risk / Return Rank

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

PPIE

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

DWMF

DWMF Risk / Return Rank: 31
DWMF Sharpe Ratio Rank: 33
DWMF Sortino Ratio Rank: 31
DWMF Omega Ratio Rank: 31
DWMF Calmar Ratio Rank: 32
DWMF Martin Ratio Rank: 30

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.

PPIE vs. DWMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG International Equity ETF - (PPIE) and WisdomTree International Multifactor Fund (DWMF). 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.

	PPIE	DWMF	Difference
Sharpe ratio: Return per unit of total volatility	—	0.94	—
Sortino ratio: Return per unit of downside risk	—	1.40	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	1.28	—
Martin ratio: Return relative to average drawdown	—	3.41	—

Drawdowns

Drawdown Indicators

	PPIE	DWMF	Difference
Max Drawdown Largest peak-to-trough decline	—	-29.72%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.74%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.00%	—
Current Drawdown Current decline from peak	—	-4.24%	—
Average Drawdown Average peak-to-trough decline	—	-3.90%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.28%	—

Volatility

Volatility by Period

	PPIE	DWMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	11.92%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	11.41%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	14.14%	—

PPIE vs. DWMF - Expense Ratio Comparison

PPIE has a 0.49% expense ratio, which is higher than DWMF's 0.38% expense ratio.

Dividends

PPIE vs. DWMF - Dividend Comparison

PPIE has not paid dividends to shareholders, while DWMF's dividend yield for the trailing twelve months is around 3.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DWMF WisdomTree International Multifactor Fund	3.12%	2.80%	3.50%	4.01%	3.41%	3.54%	2.06%	2.77%	1.15%
PPIE Putnam Panagora ESG International Equity ETF -	12.06%	8.40%	5.12%	3.30%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PPIE and DWMF in my portfolio?

PPIE and DWMF have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PPIE or DWMF?

On fees, DWMF is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPIE or DWMF?

DWMF is cheaper with a 0.38% expense ratio, compared with 0.49% for PPIE.

Which ETF pays a higher dividend yield, PPIE or DWMF?

PPIE has the higher dividend yield at 12.06%, compared with 3.12% for DWMF.

What is the main difference between PPIE and DWMF?

They also come from different issuers: Putnam and WisdomTree. Their fees differ too: 0.49% for PPIE and 0.38% for DWMF.