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PMM vs SPY

Comparison between Putnam Managed Municipal Income Trust. (PMM, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed PMM, delivering a return of +13.3% compared to -1.2%

PMM vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
PMM
$287M
Winner
SPY
$735B
Expense Ratio
PMM
N/A
SPY
0.09%
Max Drawdown
Winner
PMM
55.45%
SPY
56.47%
Sharpe Ratio
PMM
0.75
Winner
SPY
1.62
5Y Beta
Winner
PMM
0.25
SPY
1.00
P/E Ratio
PMM
N/A
SPY
28.99
Forward P/E
PMM
N/A
SPY
22.37
5Y Dividends CAGR
PMM
-5.23%
Winner
SPY
5.43%
5Y EPS CAGR
PMM
N/A
SPY
26.05%
Debt to Equity
PMM
N/A
SPY
32.40%
P/S Ratio
PMM
N/A
SPY
3.74
P/B Ratio
PMM
N/A
SPY
5.61

PMM vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
PMM
+1.08%
Winner
SPY
+1.90%
3M
PMM
-1.47%
Winner
SPY
+8.55%
6M
PMM
+1.95%
Winner
SPY
+8.18%
1Y
PMM
+11.94%
Winner
SPY
+25.79%
5Y(CAGR)
PMM
-1.23%
Winner
SPY
+13.32%
10Y(CAGR)
PMM
+2.68%
Winner
SPY
+15.19%
Max(CAGR)
PMM
+4.11%
Winner
SPY
+8.47%

PMM vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearPMMSPY
2026+2.49%+8.26%
2025+9.59%+18.00%
2024+3.02%+25.59%
2023+2.56%+26.72%
2022-24.71%-18.64%
2021+14.43%+30.52%
2020+5.39%+17.28%
2019+20.89%+31.09%
2018-4.36%-5.24%
2017+8.41%+20.78%
2016+1.50%+13.59%
2015+8.42%+1.31%
2014+16.71%+14.56%
2013-14.18%+29.00%
2012+13.90%+14.17%
2011+16.72%+0.85%
2010+11.36%+13.14%
2009+39.05%+22.67%
2008-23.78%-36.25%
2007-4.68%+5.32%
2006+13.52%+13.85%
2005+5.00%+5.32%
2004+4.05%+10.75%
2003+7.27%+24.18%
2002-1.93%-22.42%
2001+2.95%-10.13%
2000-2.73%-8.84%
1999-18.75%+8.61%

PMM vs SPY Drawdown Comparison

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

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current PMM drawdown is -12.13%. The current SPY drawdown is -2.90%.

RankPMMSPY
#1-38.66%
May 15, 2007 - Oct 6, 2009		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-37.70%
Dec 23, 2021 - Oct 25, 2023		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-29.07%
Feb 25, 2020 - Dec 31, 2020		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-23.55%
Aug 23, 2000 - May 23, 2005		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-22.09%
Jan 25, 2013 - Oct 22, 2015		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-19.37%
Nov 1, 1999 - Aug 17, 2000		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-15.50%
Oct 19, 2010 - Jul 22, 2011		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-12.72%
Sep 28, 2016 - Sep 13, 2017		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-10.42%
Aug 25, 2005 - Aug 15, 2006		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-9.63%
Sep 15, 2017 - Feb 8, 2019		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-8.11%
Mar 8, 2012 - May 9, 2012		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-8.09%
Jul 22, 2011 - Aug 22, 2011		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-7.15%
Oct 3, 2012 - Jan 8, 2013		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-6.40%
Jun 25, 2021 - Nov 18, 2021		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-6.36%
Oct 6, 2009 - Jan 15, 2010		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between PMM and SPY is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85
-101

Dividend Comparison (1999 - 2026)

PMM vs SPY dividend yield comparison.

YearPMMSPY
20262.13%0.24%
20254.90%1.07%
20244.78%1.21%
20235.10%1.40%
20226.11%1.65%
20214.38%1.20%
20204.76%1.52%
20194.81%1.75%
20185.42%2.04%
20175.38%1.80%
20166.09%2.03%
20155.92%2.06%
20146.22%1.87%
20137.03%1.81%
20125.79%2.18%
20117.00%2.05%
20107.59%1.80%
20097.05%1.95%
20088.29%3.02%
20075.86%1.85%
20065.33%1.73%
20056.04%1.73%
20047.08%1.82%
20037.60%1.47%
20027.71%1.70%
20017.17%1.25%
20002.97%1.15%
19990.00%0.24%

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