PMM vs BSMT

Comparison between Putnam Managed Municipal Income Trust. (PMM, ETF) and INVESCO BULLETSHARES 2029 MUNICIPAL BOND ETF (BSMT, ETF).

5-Year PerformanceBSMT has outperformed PMM, delivering a return of -0.3% compared to -1.2%

PMM vs BSMT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PMM(ETF)	BSMT(ETF)
Net Assets	$281M	$281M
Expense Ratio	N/A	0.18%
Max Drawdown	55.45%	17.74%
Sharpe Ratio	0.81	-0.41
5Y Beta	0.25	0.02
5Y Dividends CAGR	-2.55%	8.08%

Net Assets

PMM

$281M

Winner

BSMT

$281M

Expense Ratio

PMM

N/A

BSMT

0.18%

Max Drawdown

PMM

55.45%

Winner

BSMT

17.74%

Sharpe Ratio

Winner

PMM

0.81

BSMT

-0.41

5Y Beta

PMM

0.25

Winner

BSMT

0.02

5Y Dividends CAGR

PMM

-2.55%

Winner

BSMT

8.08%

PMM vs BSMT - Historical Returns

Returns include dividend reinvestment.

Period	PMM	BSMT
1 month	-1.98%	+0.77%
3 months	+2.39%	+0.39%
6 months	+0.64%	-0.39%
1 year	+12.80%	+3.02%
5 years(CAGR)	-1.21%	-0.26%
10 years(CAGR)	+2.76%	N/A
Max(CAGR)	+4.15%	+0.93%

PMM

-1.98%

Winner

BSMT

+0.77%

Winner

PMM

+2.39%

BSMT

+0.39%

Winner

PMM

+0.64%

BSMT

-0.39%

Winner

PMM

+12.80%

BSMT

+3.02%

5Y(CAGR)

PMM

-1.21%

Winner

BSMT

-0.26%

10Y(CAGR)

PMM

+2.76%

BSMT

N/A

Max(CAGR)

Winner

PMM

+4.15%

BSMT

+0.93%

PMM vs BSMT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PMM	BSMT
2026	+4.61%	+0.88%
2025	+9.59%	+3.62%
2024	+3.02%	+0.36%
2023	+2.56%	+5.16%
2022	-24.71%	-10.94%
2021	+14.43%	+1.42%
2020	+5.39%	+6.96%
2019	+20.89%	-0.35%
2018	-4.36%	N/A
2017	+8.41%	N/A
2016	+1.50%	N/A
2015	+8.42%	N/A
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 BSMT Drawdown Comparison

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

The maximum drawdown for BSMT was -16.19%, occurring on Oct 31, 2022. This drawdown has not yet recovered.

The current PMM drawdown is -10.32%. The current BSMT drawdown is -2.11%.

Rank	PMM	BSMT
#1	-38.66% May 15, 2007 - Oct 6, 2009	-16.19% Jul 19, 2021 - Oct 31, 2022
#2	-37.70% Dec 23, 2021 - Oct 25, 2023	-15.09% Feb 27, 2020 - Jul 23, 2020
#3	-29.07% Feb 25, 2020 - Dec 31, 2020	-3.42% Feb 11, 2021 - Jun 9, 2021
#4	-23.55% Aug 23, 2000 - May 23, 2005	-2.88% Aug 10, 2020 - Dec 8, 2020
#5	-22.09% Jan 25, 2013 - Oct 22, 2015	-2.14% Oct 9, 2019 - Jan 9, 2020
#6	-19.37% Nov 1, 1999 - Aug 17, 2000	-0.72% Jun 10, 2021 - Jul 6, 2021
#7	-15.50% Oct 19, 2010 - Jul 22, 2011	-0.53% Jan 6, 2021 - Jan 26, 2021
#8	-12.72% Sep 28, 2016 - Sep 13, 2017	-0.52% Sep 25, 2019 - Oct 9, 2019
#9	-10.42% Aug 25, 2005 - Aug 15, 2006	-0.47% Jan 31, 2020 - Feb 18, 2020
#10	-9.63% Sep 15, 2017 - Feb 8, 2019	-0.25% Jul 31, 2020 - Aug 4, 2020
#11	-8.11% Mar 8, 2012 - May 9, 2012	-0.15% Dec 28, 2020 - Dec 30, 2020
#12	-8.09% Jul 22, 2011 - Aug 22, 2011	-0.14% Jan 27, 2020 - Jan 31, 2020
#13	-7.15% Oct 3, 2012 - Jan 8, 2013	-0.13% Dec 21, 2020 - Dec 28, 2020
#14	-6.40% Jun 25, 2021 - Nov 18, 2021	-0.13% Aug 4, 2020 - Aug 10, 2020
#15	-6.36% Oct 6, 2009 - Jan 15, 2010	-0.10% Jul 28, 2020 - Jul 31, 2020

Correlation

Correlation between PMM and BSMT is 0.89 which considered as a strong positive correlation - the stocks tend to move together.

0.89

-101

Dividend Comparison (2000 - 2026)

PMM vs BSMT dividend yield comparison.

Year	PMM	BSMT
2026	3.70%	1.84%
2025	4.90%	2.78%
2024	4.78%	2.80%
2023	5.10%	2.62%
2022	6.11%	1.65%
2021	4.38%	1.31%
2020	4.76%	1.82%
2019	4.81%	0.48%
2018	5.42%	0.00%
2017	5.38%	0.00%
2016	6.09%	0.00%
2015	5.92%	0.00%
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%