PPT vs. M
PPT (Putnam Premier Income Trust) is Multisector Bonds fund actively managed by Putnam, while M (Macy's, Inc.) is a stock. Over the past 10 years, PPT returned 4.42%/yr vs 1.65%/yr for M. Their 0.10 correlation means their historical movements had little consistent relationship.
Performance
PPT vs. M - Performance Comparison
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Returns By Period
In the year-to-date period, PPT achieves a 1.76% return, which is significantly lower than M's 19.92% return. Over the past 10 years, PPT has outperformed M with an annualized return of 4.42%, while M has yielded a comparatively lower 1.65% annualized return.
PPT
- 1D
- 0.88%
- 1M
- -0.40%
- 6M
- -1.47%
- YTD
- 1.76%
- 1Y
- 1.45%
- 3Y*
- 7.41%
- 5Y*
- 2.51%
- 10Y*
- 4.42%
- ALL TIME*
- 2.75%
M
- 1D
- 4.55%
- 1M
- 11.61%
- 6M
- 24.79%
- YTD
- 19.92%
- 1Y
- 117.91%
- 3Y*
- 21.89%
- 5Y*
- 13.46%
- 10Y*
- 1.65%
- ALL TIME*
- 5.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $120.73M | $114.30M | $140.16M | |
| $415.04K | $332.20K | $356.46K |
PPT vs. M - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPT Putnam Premier Income Trust | 1.76% | 8.39% | 8.80% | 7.43% | -7.75% | -1.72% | -6.54% | 25.53% | -6.36% | 13.78% |
M Macy's, Inc. | 19.92% | 36.55% | -12.41% | 1.64% | -18.66% | 135.80% | -31.08% | -38.20% | 23.64% | -25.29% |
Correlation
The correlation between PPT and M is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.17 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 1992 | 0.10 |
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Return for Risk
PPT vs. M — Risk / Return Rank
PPT
M
PPT vs. M - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Premier Income Trust (PPT) and Macy's, Inc. (M). 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 | M | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.41 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.42 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 4.15 | -3.86 |
| Martin ratioReturn relative to average drawdown | 0.60 | 10.02 | -9.42 |
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Drawdowns
PPT vs. M - Drawdown Comparison
The maximum PPT drawdown since its inception was -49.76%, smaller than the maximum M drawdown of -91.95%. Use the drawdown chart below to compare losses from any high point for PPT and M.
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Drawdown Indicators
| PPT | M | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.76% | -91.95% | +42.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.05% | -28.61% | +23.56% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -51.33% | +42.23% |
Max Drawdown (5Y)Largest decline over 5 years | -17.46% | -69.65% | +52.19% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | -87.79% | +56.00% |
Current DrawdownCurrent decline from peak | -2.71% | -42.81% | +40.10% |
Average DrawdownAverage peak-to-trough decline | -11.20% | -34.66% | +23.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 11.82% | -9.38% |
Volatility
PPT vs. M - Volatility Comparison
The current volatility for Putnam Premier Income Trust (PPT) is 1.42%, while Macy's, Inc. (M) has a volatility of 11.10%. This indicates that PPT experiences smaller price fluctuations and is considered to be less risky than M based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPT | M | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 11.10% | -9.68% |
Volatility (6M)Calculated over the trailing 6-month period | 6.59% | 30.68% | -24.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.18% | 46.16% | -36.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.88% | 54.06% | -42.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.42% | 56.28% | -41.86% |
Dividends
PPT vs. M - Dividend Comparison
PPT's dividend yield for the trailing twelve months is around 9.12%, more than M's 2.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
M Macy's, Inc. | 2.88% | 3.31% | 4.10% | 3.29% | 3.05% | 1.15% | 3.36% | 8.88% | 5.07% | 5.99% | 4.17% | 3.98% |
PPT Putnam Premier Income Trust | 9.12% | 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 M have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
M has higher volatility (11.10%) compared to PPT (1.42%). In terms of maximum drawdown, PPT dropped -49.76% vs M's -91.95%.
M currently has the higher Sharpe Ratio (2.57 vs 0.16), 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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