PMM vs DBL

Comparison between Putnam Managed Municipal Income Trust. (PMM, ETF) and DoubleLine Opportunistic Credit Fund (DBL, ETF).

5-Year PerformanceDBL has outperformed PMM, delivering a return of +2.0% compared to -0.8%

PMM vs DBL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PMM(ETF)	DBL(ETF)
Net Assets	$289M	$288M
Max Drawdown	55.45%	50.83%
Sharpe Ratio	0.83	-0.30
5Y Beta	0.24	0.16
5Y Dividends CAGR	-5.23%	-4.68%

Net Assets

Winner

PMM

$289M

DBL

$288M

Max Drawdown

PMM

55.45%

Winner

DBL

50.83%

Sharpe Ratio

Winner

PMM

0.83

DBL

-0.30

5Y Beta

PMM

0.24

Winner

DBL

0.16

5Y Dividends CAGR

PMM

-5.23%

Winner

DBL

-4.68%

PMM vs DBL - Historical Returns

Returns include dividend reinvestment.

Period	PMM	DBL
1 month	+0.75%	+0.61%
3 months	+1.63%	+1.39%
6 months	+4.86%	-1.39%
1 year	+11.96%	+1.00%
5 years(CAGR)	-0.79%	+2.01%
10 years(CAGR)	+2.74%	+2.25%
Max(CAGR)	+4.14%	+4.55%

Winner

PMM

+0.75%

DBL

+0.61%

Winner

PMM

+1.63%

DBL

+1.39%

Winner

PMM

+4.86%

DBL

-1.39%

Winner

PMM

+11.96%

DBL

+1.00%

5Y(CAGR)

PMM

-0.79%

Winner

DBL

+2.01%

10Y(CAGR)

Winner

PMM

+2.74%

DBL

+2.25%

Max(CAGR)

PMM

+4.14%

Winner

DBL

+4.55%

PMM vs DBL - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PMM	DBL
2026	+3.48%	-1.46%
2025	+9.59%	+7.08%
2024	+3.02%	+10.67%
2023	+2.56%	+12.59%
2022	-24.71%	-14.98%
2021	+14.43%	+5.85%
2020	+5.39%	+4.27%
2019	+20.89%	+15.02%
2018	-4.36%	-6.48%
2017	+8.41%	+4.42%
2016	+1.50%	-2.09%
2015	+8.42%	+12.98%
2014	+16.71%	+22.63%
2013	-14.18%	-10.37%
2012	+13.90%	+12.82%
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 DBL Drawdown Comparison

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

The maximum drawdown for DBL was -26.44%, occurring on Mar 18, 2020. Recovery took 238 trading sessions.

The current PMM drawdown is -11.28%. The current DBL drawdown is -2.65%.

Rank	PMM	DBL
#1	-38.66% May 15, 2007 - Oct 6, 2009	-26.44% Jan 22, 2020 - Dec 30, 2020
#2	-37.70% Dec 23, 2021 - Oct 25, 2023	-24.54% Oct 14, 2021 - Aug 2, 2024
#3	-29.07% Feb 25, 2020 - Dec 31, 2020	-21.29% May 10, 2013 - Nov 25, 2014
#4	-23.55% Aug 23, 2000 - May 23, 2005	-19.89% Jul 3, 2017 - Jan 22, 2020
#5	-22.09% Jan 25, 2013 - Oct 22, 2015	-15.86% Sep 8, 2016 - Jul 3, 2017
#6	-19.37% Nov 1, 1999 - Aug 17, 2000	-10.90% Feb 3, 2015 - Oct 7, 2015
#7	-15.50% Oct 19, 2010 - Jul 22, 2011	-6.67% May 12, 2016 - Jun 7, 2016
#8	-12.72% Sep 28, 2016 - Sep 13, 2017	-5.96% Nov 5, 2015 - Dec 7, 2015
#9	-10.42% Aug 25, 2005 - Aug 15, 2006	-5.72% Oct 22, 2025 - Mar 30, 2026
#10	-9.63% Sep 15, 2017 - Feb 8, 2019	-4.78% Feb 21, 2012 - Apr 26, 2012
#11	-8.11% Mar 8, 2012 - May 9, 2012	-4.76% Sep 18, 2024 - Jan 15, 2025
#12	-8.09% Jul 22, 2011 - Aug 22, 2011	-4.69% Oct 4, 2012 - Dec 12, 2012
#13	-7.15% Oct 3, 2012 - Jan 8, 2013	-3.97% Apr 26, 2012 - Jun 4, 2012
#14	-6.40% Jun 25, 2021 - Nov 18, 2021	-3.94% Dec 17, 2015 - Feb 5, 2016
#15	-6.36% Oct 6, 2009 - Jan 15, 2010	-3.82% Jun 27, 2016 - Jul 22, 2016

Correlation

Correlation between PMM and DBL 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 DBL dividend yield comparison.

Year	PMM	DBL
2026	2.11%	3.81%
2025	4.90%	8.66%
2024	4.78%	8.52%
2023	5.10%	8.60%
2022	6.11%	8.89%
2021	4.38%	7.17%
2020	4.76%	8.69%
2019	4.81%	6.83%
2018	5.42%	10.27%
2017	5.38%	9.03%
2016	6.09%	8.68%
2015	5.92%	9.35%
2014	6.22%	10.14%
2013	7.03%	8.98%
2012	5.79%	7.34%
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%