Putnam Emerging Markets Ex-China ETF (PEMX) Performance
PEMX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +23.1% since Dec 31, 2025
- 1 year
- +29.6% total return
- 3 years
- +30.5% a year
- Since first price
- +26.3% a year since 2023
PEMX trailing returns vs SPY, QQQ, AGG
| Period | PEMX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −9.0% | −9.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.1% | −5.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.8% | +0.8% | +7.8% | +8.4% | −1.5% |
| YTD | +23.1% | +23.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +29.6% | +20.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +122.3%+30.5%/yr | +96.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMay 18, 2023 | +122.7%+26.3%/yr | +96.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PEMX vs SPY
From May 18, 2023: PEMX grew to $22,270, SPY to $18,933.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PEMX returns by calendar year
2 of 2 full years positive. Best 2025 (+34.0%), worst 2024 (+17.2%). 2026 is year to date.
PEMX annual returns table
| Year | PEMX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +23.1% | −19.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +34.0% | −13.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.2% | −11.8% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PEMX largest drawdowns
Now 16.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 22, 2026 | −19.0% | Jul 29, 2026 | not yet | 37 days | 4 months so far |
| Sep 26, 2024 | −14.9% | Apr 8, 2025 | May 5, 2025 | 6 months | 7 months |
| Feb 25, 2026 | −14.4% | Mar 30, 2026 | Apr 14, 2026 | 33 days | 48 days |
| Jul 10, 2024 | −11.8% | Aug 5, 2024 | Sep 26, 2024 | 26 days | 3 months |
| Jul 13, 2023 | −10.9% | Oct 27, 2023 | Dec 1, 2023 | 3 months | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PEMX risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +33.0% | +29.7% |
| Volatility (annualized) | 18.8% | 18.3% |
| Sharpe ratio | 1.39 | 1.28 |
| Sortino ratio | 2.66 | 2.41 |
| Best month | +15.3% | +15.3% |
| Worst month | −11.4% | −11.4% |
| Best 12 months | +73.6% | +73.6% |
| Worst 12 months | +4.7% | +4.7% |
| Positive months | 75% | 72% |
| Beta vs S&P 500 | 0.95 | — |
| Correlation with S&P 500 | 0.63 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PEMX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 30 | +4.7% | +28.4% | +73.6% | 100% |
| 3-year (a year) | 6 | +28.0% | +32.2% | +34.9% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
PEMX performance overview
Putnam Emerging Markets Ex-China ETF (PEMX) returned +29.6% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +26.3% a year, turning $10,000 into about $22,270. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −19.0%, from Jun 22, 2026 to Jul 29, 2026; the fund has not yet regained that high. Volatility has been 18.3% a year.
Related: PEMX chart, PEMX holdings, PEMX dividends. See the PEMX overview for the latest quote and fund facts.
PEMX performance FAQ
What is the PEMX return over the past year?
PEMX returned +29.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 20.8%.
How much would $10,000 invested in PEMX be worth?
$10,000 invested in PEMX at its first recorded close on May 18, 2023 would be worth about $22,270 on October 23, 2026 with distributions reinvested.
What was the worst year for PEMX?
The worst calendar year was 2024, with a total return of +17.2%. The best was 2025 at +34.0%.
What is the biggest drawdown of PEMX?
The largest peak-to-trough decline was −19.0% between June 22, 2026 and July 29, 2026. It has not yet recovered to that high; it is 16.7% below its peak.
How volatile is PEMX?
Over the past 3 years PEMX had an annualized volatility of 18.8% and a Sharpe ratio of 1.39 (excess return over 1–3 month T-bills per unit of risk).