PMM vs ACV

Comparison between Putnam Managed Municipal Income Trust. (PMM, ETF) and Virtus Diversified Income & Convertible Fund (ACV, ETF).

5-Year PerformanceACV has outperformed PMM, delivering a return of +9.4% compared to -1.2%

PMM vs ACV - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PMM(ETF)	ACV(ETF)
Net Assets	$287M	$286M
Max Drawdown	55.45%	54.50%
Sharpe Ratio	0.75	1.57
5Y Beta	0.25	0.78
5Y Dividends CAGR	-5.23%	4.24%

Net Assets

Winner

PMM

$287M

ACV

$286M

Max Drawdown

PMM

55.45%

Winner

ACV

54.50%

Sharpe Ratio

PMM

0.75

Winner

ACV

1.57

5Y Beta

Winner

PMM

0.25

ACV

0.78

5Y Dividends CAGR

PMM

-5.23%

Winner

ACV

4.24%

PMM vs ACV - Historical Returns

Returns include dividend reinvestment.

Period	PMM	ACV
1 month	+1.08%	-0.27%
3 months	-1.47%	+2.06%
6 months	+1.95%	+8.33%
1 year	+11.94%	+33.24%
5 years(CAGR)	-1.23%	+9.38%
10 years(CAGR)	+2.68%	+16.34%
Max(CAGR)	+4.11%	+12.34%

Winner

PMM

+1.08%

ACV

-0.27%

PMM

-1.47%

Winner

ACV

+2.06%

PMM

+1.95%

Winner

ACV

+8.33%

PMM

+11.94%

Winner

ACV

+33.24%

5Y(CAGR)

PMM

-1.23%

Winner

ACV

+9.38%

10Y(CAGR)

PMM

+2.68%

Winner

ACV

+16.34%

Max(CAGR)

PMM

+4.11%

Winner

ACV

+12.34%

PMM vs ACV - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PMM	ACV
2026	+2.49%	+5.88%
2025	+9.59%	+33.26%
2024	+3.02%	+16.23%
2023	+2.56%	+25.47%
2022	-24.71%	-35.51%
2021	+14.43%	+26.49%
2020	+5.39%	+45.25%
2019	+20.89%	+41.62%
2018	-4.36%	-7.92%
2017	+8.41%	+27.59%
2016	+1.50%	+17.13%
2015	+8.42%	-23.42%
2014	+16.71%	N/A
2013	-14.18%	N/A
2012	+13.90%	N/A
2011	+16.72%	N/A
2010	+11.36%	N/A
2009	+39.05%	N/A
2008	-23.78%	N/A
2007	-4.68%	N/A
2006	+13.52%	N/A
2005	+5.00%	N/A
2004	+4.05%	N/A
2003	+7.27%	N/A
2002	-1.93%	N/A
2001	+2.95%	N/A
2000	-2.73%	N/A
1999	-18.75%	N/A

PMM vs ACV Drawdown Comparison

The maximum drawdown for PMM was -38.66%, occurring on Dec 12, 2008. Recovery took 604 trading sessions.

The maximum drawdown for ACV was -53.61%, occurring on Mar 18, 2020. Recovery took 116 trading sessions.

The current PMM drawdown is -12.13%. The current ACV drawdown is -5.51%.

Rank	PMM	ACV
#1	-38.66% May 15, 2007 - Oct 6, 2009	-53.61% Feb 19, 2020 - Aug 4, 2020
#2	-37.70% Dec 23, 2021 - Oct 25, 2023	-48.80% Jan 13, 2022 - Oct 8, 2025
#3	-29.07% Feb 25, 2020 - Dec 31, 2020	-36.80% May 26, 2015 - Apr 10, 2017
#4	-23.55% Aug 23, 2000 - May 23, 2005	-28.23% Oct 2, 2018 - Apr 30, 2019
#5	-22.09% Jan 25, 2013 - Oct 22, 2015	-15.69% Feb 16, 2021 - Jul 1, 2021
#6	-19.37% Nov 1, 1999 - Aug 17, 2000	-14.80% Jan 28, 2026 - May 13, 2026
#7	-15.50% Oct 19, 2010 - Jul 22, 2011	-11.22% Nov 15, 2021 - Dec 23, 2021
#8	-12.72% Sep 28, 2016 - Sep 13, 2017	-11.16% May 9, 2019 - Jul 10, 2019
#9	-10.42% Aug 25, 2005 - Aug 15, 2006	-10.11% Sep 7, 2021 - Nov 3, 2021
#10	-9.63% Sep 15, 2017 - Feb 8, 2019	-9.75% Sep 2, 2020 - Oct 9, 2020
#11	-8.11% Mar 8, 2012 - May 9, 2012	-9.37% Oct 12, 2020 - Nov 6, 2020
#12	-8.09% Jul 22, 2011 - Aug 22, 2011	-8.91% Jan 26, 2018 - Mar 14, 2018
#13	-7.15% Oct 3, 2012 - Jan 8, 2013	-8.49% Aug 21, 2019 - Nov 6, 2019
#14	-6.40% Jun 25, 2021 - Nov 18, 2021	-8.02% Jul 9, 2021 - Aug 9, 2021
#15	-6.36% Oct 6, 2009 - Jan 15, 2010	-6.42% Jul 25, 2017 - Oct 4, 2017

Correlation

Correlation between PMM and ACV is 0.79 which considered as a strong positive correlation - the stocks tend to move together.

0.79

-101

Dividend Comparison (2000 - 2026)

PMM vs ACV dividend yield comparison.

Year	PMM	ACV
2026	2.13%	3.35%
2025	4.90%	9.68%
2024	4.78%	9.84%
2023	5.10%	10.30%
2022	6.11%	12.69%
2021	4.38%	24.19%
2020	4.76%	7.28%
2019	4.81%	8.15%
2018	5.42%	10.76%
2017	5.38%	9.18%
2016	6.09%	10.67%
2015	5.92%	5.52%
2014	6.22%	0.00%
2013	7.03%	0.00%
2012	5.79%	0.00%
2011	7.00%	0.00%
2010	7.59%	0.00%
2009	7.05%	0.00%
2008	8.29%	0.00%
2007	5.86%	0.00%
2006	5.33%	0.00%
2005	6.04%	0.00%
2004	7.08%	0.00%
2003	7.60%	0.00%
2002	7.71%	0.00%
2001	7.17%	0.00%
2000	2.97%	0.00%