PPT vs. JMM
PPT (Putnam Premier Income Trust) and JMM (Nuveen Multi-Market Income Fund) are both Multisector Bonds funds. Over the past 10 years, PPT returned 4.81%/yr vs 3.01%/yr for JMM. At a 0.12 correlation, their price movements are largely independent.
Performance
PPT vs. JMM - Performance Comparison
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Returns By Period
In the year-to-date period, PPT achieves a 1.11% return, which is significantly higher than JMM's -0.78% return. Over the past 10 years, PPT has outperformed JMM with an annualized return of 4.81%, while JMM has yielded a comparatively lower 3.01% annualized return.
PPT
- 1D
- 0.29%
- 1M
- 0.58%
- YTD
- 1.11%
- 6M
- 1.39%
- 1Y
- 2.36%
- 3Y*
- 8.25%
- 5Y*
- 2.27%
- 10Y*
- 4.81%
JMM
- 1D
- 0.17%
- 1M
- 1.34%
- YTD
- -0.78%
- 6M
- -0.28%
- 1Y
- -0.51%
- 3Y*
- 6.11%
- 5Y*
- 0.89%
- 10Y*
- 3.01%
PPT vs. JMM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPT Putnam Premier Income Trust | 1.11% | 8.39% | 8.80% | 7.43% | -7.75% | -1.72% | -6.54% | 25.53% | -6.36% | 13.78% |
JMM Nuveen Multi-Market Income Fund | -0.78% | 5.61% | 8.15% | 6.57% | -17.95% | 10.53% | 1.77% | 13.56% | -5.37% | 10.58% |
Correlation
The correlation between PPT and JMM is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1989 | 0.12 |
The correlation between PPT and JMM shifts across timeframes, from 0.12 (all time) to 0.28 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PPT vs. JMM — Risk / Return Rank
PPT
JMM
PPT vs. JMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Premier Income Trust (PPT) and Nuveen Multi-Market Income Fund (JMM). 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.
| PPT | JMM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.00 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | -0.06 | +0.53 |
| Martin ratioReturn relative to average drawdown | 1.06 | -0.12 | +1.19 |
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Drawdowns
PPT vs. JMM - Drawdown Comparison
The maximum PPT drawdown since its inception was -49.76%, roughly equal to the maximum JMM drawdown of -48.15%. Use the drawdown chart below to compare losses from any high point for PPT and JMM.
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Drawdown Indicators
| PPT | JMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.76% | -48.15% | -1.61% |
Max Drawdown (1Y)Largest decline over 1 year | -5.05% | -8.28% | +3.23% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -9.92% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -18.35% | -24.19% | +5.84% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | -26.48% | -5.31% |
Current DrawdownCurrent decline from peak | -3.34% | -5.77% | +2.43% |
Average DrawdownAverage peak-to-trough decline | -11.23% | -14.09% | +2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 4.12% | -1.89% |
Volatility
PPT vs. JMM - Volatility Comparison
The current volatility for Putnam Premier Income Trust (PPT) is 1.90%, while Nuveen Multi-Market Income Fund (JMM) has a volatility of 3.06%. This indicates that PPT experiences smaller price fluctuations and is considered to be less risky than JMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPT | JMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 3.06% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 8.20% | -1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.35% | 11.88% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.94% | 13.41% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.45% | 13.92% | +0.53% |
Dividends
PPT vs. JMM - Dividend Comparison
PPT's dividend yield for the trailing twelve months is around 8.29%, more than JMM's 5.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | 5.98% | 5.76% | 5.48% | 5.58% | 6.13% | 4.60% | 4.49% | 4.86% | 5.34% | 5.63% | 6.19% | 6.76% |
PPT Putnam Premier Income Trust | 8.29% | 8.81% | 8.76% | 8.74% | 8.60% | 7.31% | 8.84% | 7.73% | 6.84% | 5.85% | 6.28% | 6.30% |
Frequently Asked Questions
PPT and JMM have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMM has higher volatility (3.06%) compared to PPT (1.90%). In terms of maximum drawdown, PPT dropped -49.76% vs JMM's -48.15%.
PPT currently has the higher Sharpe Ratio (0.25 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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