PMM vs LQTI

Comparison between Putnam Managed Municipal Income Trust. (PMM, ETF) and FT VEST INVESTMENT GRADE & TARGET INCOME ETF (LQTI, ETF).

PMM vs LQTI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PMM(ETF)	LQTI(ETF)
Net Assets	$292M	$293M
Expense Ratio	N/A	0.65%
Max Drawdown	55.45%	8.22%
Sharpe Ratio	1.12	-0.15
5Y Beta	0.24	0.12
5Y Dividends CAGR	-4.85%	N/A

Net Assets

PMM

$292M

Winner

LQTI

$293M

Expense Ratio

PMM

N/A

LQTI

0.65%

Max Drawdown

PMM

55.45%

Winner

LQTI

8.22%

Sharpe Ratio

Winner

PMM

1.12

LQTI

-0.15

5Y Beta

PMM

0.24

Winner

LQTI

0.12

5Y Dividends CAGR

PMM

-4.85%

LQTI

N/A

PMM vs LQTI - Historical Returns

Returns include dividend reinvestment.

Period	PMM	LQTI
1 month	+2.89%	-1.44%
3 months	+5.44%	-1.60%
6 months	+6.97%	-1.27%
1 year	+17.23%	+2.59%
5 years(CAGR)	-0.40%	N/A
10 years(CAGR)	+3.11%	N/A
Max(CAGR)	+4.28%	+3.80%

Winner

PMM

+2.89%

LQTI

-1.44%

Winner

PMM

+5.44%

LQTI

-1.60%

Winner

PMM

+6.97%

LQTI

-1.27%

Winner

PMM

+17.23%

LQTI

+2.59%

5Y(CAGR)

PMM

-0.40%

LQTI

N/A

10Y(CAGR)

PMM

+3.11%

LQTI

N/A

Max(CAGR)

Winner

PMM

+4.28%

LQTI

+3.80%

PMM vs LQTI - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PMM	LQTI
2026	+7.66%	-0.72%
2025	+9.59%	+6.69%
2024	+3.02%	N/A
2023	+2.56%	N/A
2022	-24.71%	N/A
2021	+14.43%	N/A
2020	+5.39%	N/A
2019	+20.89%	N/A
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 LQTI Drawdown Comparison

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

The maximum drawdown for LQTI was -3.40%, occurring on Mar 27, 2026. This drawdown has not yet recovered.

The current PMM drawdown is -7.70%. The current LQTI drawdown is -2.71%.

Rank	PMM	LQTI
#1	-38.66% May 15, 2007 - Oct 6, 2009	-3.40% Feb 26, 2026 - Mar 27, 2026
#2	-37.70% Dec 23, 2021 - Oct 25, 2023	-3.23% Apr 4, 2025 - Jun 12, 2025
#3	-29.07% Feb 25, 2020 - Dec 31, 2020	-1.76% Oct 24, 2025 - Feb 12, 2026
#4	-23.55% Aug 23, 2000 - May 23, 2005	-1.27% Mar 3, 2025 - Apr 2, 2025
#5	-22.09% Jan 25, 2013 - Oct 22, 2015	-1.09% Jul 2, 2025 - Jul 29, 2025
#6	-19.37% Nov 1, 1999 - Aug 17, 2000	-1.07% Sep 15, 2025 - Oct 14, 2025
#7	-15.50% Oct 19, 2010 - Jul 22, 2011	-0.68% Jun 12, 2025 - Jun 23, 2025
#8	-12.72% Sep 28, 2016 - Sep 13, 2017	-0.67% Aug 13, 2025 - Aug 27, 2025
#9	-10.42% Aug 25, 2005 - Aug 15, 2006	-0.57% Feb 19, 2026 - Feb 26, 2026
#10	-9.63% Sep 15, 2017 - Feb 8, 2019	-0.42% Aug 28, 2025 - Sep 3, 2025
#11	-8.11% Mar 8, 2012 - May 9, 2012	-0.41% Aug 7, 2025 - Aug 13, 2025
#12	-8.09% Jul 22, 2011 - Aug 22, 2011	-0.34% Feb 14, 2025 - Feb 21, 2025
#13	-7.15% Oct 3, 2012 - Jan 8, 2013	-0.22% Oct 22, 2025 - Oct 24, 2025
#14	-6.40% Jun 25, 2021 - Nov 18, 2021	-0.19% Jul 29, 2025 - Aug 1, 2025
#15	-6.36% Oct 6, 2009 - Jan 15, 2010	-0.15% Jun 24, 2025 - Jun 27, 2025

Correlation

Correlation between PMM and LQTI is 0.74 which considered as a strong positive correlation - the stocks tend to move together.

0.74

-101

Dividend Comparison (2000 - 2026)

PMM vs LQTI dividend yield comparison.

Year	PMM	LQTI
2026	2.55%	5.38%
2025	4.90%	7.01%
2024	4.78%	0.00%
2023	5.10%	0.00%
2022	6.11%	0.00%
2021	4.38%	0.00%
2020	4.76%	0.00%
2019	4.81%	0.00%
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%