PEMX vs SPY
Putnam Emerging Markets ex-China ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PEMX delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PEMX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.09% | |
| AUM | $31M | $789.1B | |
| Dividend Yield | 4.99% | 1.01% | |
| Holdings | 57 | 505 | |
| YTD Return | +30.29% | +14.47% | |
| 1Y Return | +49.27% | +21.96% | |
| 3Y Return (annualized) | +32.21% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 18.6% | 15.3% | |
| Max Drawdown | -19.0% | -56.5% | |
| Fund Family | Putnam Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 17, 2023 | Jan 22, 1993 |
PEMX vs SPY Performance
Putnam Emerging Markets ex-China ETF (PEMX) is a ETF from Putnam Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PEMX returned +49.27% while SPY returned +21.96%. Year to date, PEMX is up 30.29% versus a gain of 14.47% for SPY.
Over three years, PEMX compounded at +32.21% per year against +21.70% for SPY. Across the full 3-year window we track, PEMX has the edge at +31.25% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PEMX has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.0% for PEMX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PEMX charges 0.69% per year while SPY charges 0.09%. On a $10,000 position that is $69 vs $9 annually, a gap of $60 per year that compounds over a long holding period. On income, PEMX currently yields 4.99% against 1.01% for SPY.
Holdings Overlap
PEMX and SPY share 0 holdings out of 555 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PEMX or SPY?
PEMX has an expense ratio of 0.69% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $60 per year of difference.
Which performed better, PEMX or SPY?
Over the past year PEMX returned +49.27% vs +21.96% for SPY, so PEMX leads on 1-year performance. Over the longest common window we track (3 years), PEMX annualized +31.25% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, PEMX or SPY?
PEMX has been the more volatile fund at 18.6% annualized versus 15.3% for SPY. Worst drawdown: PEMX -19.0% vs SPY -56.5%.
Should I hold both PEMX and SPY?
PEMX and SPY have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PEMX and SPY?
PEMX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, PEMX or SPY?
PEMX yields 4.99% while SPY yields 1.01%, so PEMX currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.