PPIE vs. PGRI

Last updated Jul 17, 2026

PPIE (Putnam Panagora ESG International Equity ETF -) and PGRI (Putnam International Stock ETF) are both exchange-traded funds - PPIE is a Foreign Large Cap Equities fund actively managed by Putnam, while PGRI is a Actively Managed fund actively managed by Putnam. Both are actively managed. A 0.73 correlation means they provide meaningful diversification when combined. PPIE charges 0.49%/yr vs 0.55%/yr for PGRI.

Performance

PPIE vs. PGRI - Performance Comparison

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

Returns By Period

PPIE

• 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)

PPIE vs. PGRI - Yearly Performance Comparison

	2026 (YTD)	2025
PPIE Putnam Panagora ESG International Equity ETF -	8.31%	3.28%
PGRI Putnam International Stock ETF	6.14%	-1.11%

Correlation

The correlation between PPIE and PGRI is 0.73, 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	0.73

Return for Risk

PPIE vs. PGRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Panagora ESG International Equity ETF - (PPIE) 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

	PPIE	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

	PPIE	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%	—

PPIE vs. PGRI - Expense Ratio Comparison

PPIE has a 0.49% expense ratio, which is lower than PGRI's 0.55% expense ratio.

Dividends

PPIE vs. PGRI - Dividend Comparison

PPIE 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%
PPIE Putnam Panagora ESG International Equity ETF -	12.06%	8.40%	5.12%	3.30%

Frequently Asked Questions

Can I hold both PPIE and PGRI in my portfolio?

PPIE and PGRI have a correlation of 0.73, 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 PGRI?

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 is cheaper, PPIE or PGRI?

PPIE is cheaper with a 0.49% expense ratio, compared with 0.55% for PGRI.

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

PPIE has the higher dividend yield at 12.06%, compared with 0.12% for PGRI.

What is the main difference between PPIE and PGRI?

PPIE is categorized as Foreign Large Cap Equities, while PGRI is Actively Managed. Their fees differ too: 0.49% for PPIE and 0.55% for PGRI.