PPIE vs. IFLO

Last updated Jun 26, 2026

PPIE (Putnam Panagora ESG International Equity ETF -) and IFLO (VictoryShares International Free Cash Flow ETF) are both Foreign Large Cap Equities funds. Over the past year, PPIE returned 20.75% vs 32.28% for IFLO. A 0.79 correlation means they provide meaningful diversification when combined. PPIE charges 0.49%/yr vs 0.56%/yr for IFLO.

Performance

PPIE vs. IFLO - Performance Comparison

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

Returns By Period

In the year-to-date period, PPIE achieves a 8.31% return, which is significantly lower than IFLO's 16.93% return.

PPIE

• 1D: 0.02%
• 1M: -0.75%
• YTD: 8.31%
• 6M: 8.24%
• 1Y: 20.75%
• 3Y*: 18.34%
• 5Y*: —
• 10Y*: —

IFLO

• 1D: 0.43%
• 1M: -1.62%
• YTD: 16.93%
• 6M: 16.46%
• 1Y: 32.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PPIE vs. IFLO - Yearly Performance Comparison

	2026 (YTD)	2025
PPIE Putnam Panagora ESG International Equity ETF -	8.31%	11.48%
IFLO VictoryShares International Free Cash Flow ETF	16.93%	13.12%

Correlation

The correlation between PPIE and IFLO is 0.79, 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 Jun 26, 2025	0.79

PPIE vs. IFLO - Sectors Allocation Comparison

Sectors	PPIE	IFLO
Financial Services	24.0%	1.1%
Industrials	21.7%	18.1%
Technology	14.2%	21.5%
Healthcare	11.9%	11.7%
Consumer Defensive	6.4%	2.8%
Consumer Cyclical	5.9%	13.8%
Basic Materials	5.3%	11.3%
Communication Services	3.3%	6.7%
Energy	3.3%	12.1%
Utilities	3.2%	1.0%
Real Estate	0.9%	0.0%

Return for Risk

PPIE vs. IFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG International Equity ETF - (PPIE) and VictoryShares International Free Cash Flow ETF (IFLO). 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	IFLO	Difference
Sharpe ratio: Return per unit of total volatility	1.31	—	—
Sortino ratio: Return per unit of downside risk	1.88	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.66	—	—
Martin ratio: Return relative to average drawdown	6.12	—	—

Drawdowns

PPIE vs. IFLO - Drawdown Comparison

The maximum PPIE drawdown since its inception was -13.55%, which is greater than IFLO's maximum drawdown of -6.44%. Use the drawdown chart below to compare losses from any high point for PPIE and IFLO.

Drawdown Indicators

	PPIE	IFLO	Difference
Max Drawdown Largest peak-to-trough decline	-13.55%	-6.44%	-7.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-6.44%	-5.56%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	—	—
Current Drawdown Current decline from peak	-0.75%	-3.37%	+2.62%
Average Drawdown Average peak-to-trough decline	-2.50%	-1.25%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	—	—

Volatility

Volatility by Period

	PPIE	IFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.22%	14.75%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.78%	14.75%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.78%	14.75%	+0.03%

PPIE vs. IFLO - Expense Ratio Comparison

PPIE has a 0.49% expense ratio, which is lower than IFLO's 0.56% expense ratio.

Dividends

PPIE vs. IFLO - Dividend Comparison

PPIE has not paid dividends to shareholders, while IFLO's dividend yield for the trailing twelve months is around 1.51%.

Position	TTM	2025	2024	2023
IFLO VictoryShares International Free Cash Flow ETF	1.51%	0.73%	0.00%	0.00%
PPIE Putnam Panagora ESG International Equity ETF -	12.06%	8.40%	5.12%	3.30%

Frequently Asked Questions

Can I hold both PPIE and IFLO in my portfolio?

PPIE and IFLO have a correlation of 0.79, 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 IFLO?

On 1-year performance, IFLO leads with 32.28% vs 20.75% for PPIE. On fees, PPIE is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPIE or IFLO?

Over the 1-year period, IFLO has performed better with a 32.28% return vs 20.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPIE or IFLO?

PPIE is cheaper with a 0.49% expense ratio, compared with 0.56% for IFLO.

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

PPIE has the higher dividend yield at 12.06%, compared with 1.51% for IFLO.

What is the main difference between PPIE and IFLO?

They also come from different issuers: Putnam and VictoryShares. Their fees differ too: 0.49% for PPIE and 0.56% for IFLO.