PMO vs BWZ

Comparison between Putnam Municipal Opportunities Trust (PMO, ETF) and SPDR(R) BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF (BWZ, ETF).

5-Year PerformancePMO has outperformed BWZ, delivering a return of -1.1% compared to -1.8%

PMO vs BWZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PMO(ETF)	BWZ(ETF)
Net Assets	$312M	$312M
Expense Ratio	N/A	0.35%
Max Drawdown	44.44%	38.33%
Sharpe Ratio	0.98	-0.55
5Y Beta	0.19	-0.00
5Y Dividends CAGR	-7.33%	110.68%

Net Assets

Winner

PMO

$312M

BWZ

$312M

Expense Ratio

PMO

N/A

BWZ

0.35%

Max Drawdown

PMO

44.44%

Winner

BWZ

38.33%

Sharpe Ratio

Winner

PMO

0.98

BWZ

-0.55

5Y Beta

PMO

0.19

Winner

BWZ

-0.00

5Y Dividends CAGR

PMO

-7.33%

Winner

BWZ

110.68%

PMO vs BWZ - Historical Returns

Returns include dividend reinvestment.

Period	PMO	BWZ
1 month	+2.02%	-0.04%
3 months	+1.54%	+0.49%
6 months	+3.27%	-0.25%
1 year	+12.59%	-0.67%
5 years(CAGR)	-1.06%	-1.76%
10 years(CAGR)	+2.63%	-0.47%
Max(CAGR)	+5.18%	-0.19%

Winner

PMO

+2.02%

BWZ

-0.04%

Winner

PMO

+1.54%

BWZ

+0.49%

Winner

PMO

+3.27%

BWZ

-0.25%

Winner

PMO

+12.59%

BWZ

-0.67%

5Y(CAGR)

Winner

PMO

-1.06%

BWZ

-1.76%

10Y(CAGR)

Winner

PMO

+2.63%

BWZ

-0.47%

Max(CAGR)

Winner

PMO

+5.18%

BWZ

-0.19%

PMO vs BWZ - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PMO	BWZ
2026	+1.04%	-0.03%
2025	+9.91%	+10.88%
2024	+2.45%	-4.53%
2023	-3.28%	+3.85%
2022	-19.78%	-10.17%
2021	+9.37%	-6.90%
2020	+9.03%	+6.74%
2019	+21.21%	+1.29%
2018	-4.43%	-3.82%
2017	+8.53%	+10.82%
2016	+2.30%	-1.22%
2015	+8.40%	-6.54%
2014	+18.82%	-9.36%
2013	-14.31%	-2.29%
2012	+12.61%	+2.23%
2011	+22.64%	-0.77%
2010	+4.65%	+0.98%
2009	+34.84%	+12.97%
2008	-17.87%	N/A
2007	-1.05%	N/A
2006	+10.34%	N/A
2005	-0.56%	N/A
2004	+0.91%	N/A
2003	+15.65%	N/A
2002	+1.00%	N/A
2001	+3.07%	N/A
2000	+18.39%	N/A
1999	-11.15%	N/A

PMO vs BWZ Drawdown Comparison

The maximum drawdown for PMO was -36.47%, occurring on Oct 23, 2023. This drawdown has not yet recovered.

The maximum drawdown for BWZ was -34.22%, occurring on Sep 27, 2022. This drawdown has not yet recovered.

The current PMO drawdown is -12.74%. The current BWZ drawdown is -22.27%.

Rank	PMO	BWZ
#1	-36.47% Dec 23, 2021 - Oct 23, 2023	-34.22% Aug 29, 2011 - Sep 27, 2022
#2	-30.16% Apr 3, 2007 - Sep 3, 2009	-13.70% Dec 1, 2009 - Nov 4, 2010
#3	-26.06% Feb 25, 2020 - Jul 17, 2020	-6.59% Nov 4, 2010 - Jan 26, 2011
#4	-22.27% Nov 30, 2012 - Jan 15, 2015	-5.56% Feb 9, 2009 - Mar 18, 2009
#5	-15.92% Oct 18, 2010 - Aug 17, 2011	-5.06% Jan 26, 2011 - Apr 26, 2011
#6	-14.04% Aug 22, 2016 - Feb 14, 2019	-3.58% May 2, 2011 - Jul 29, 2011
#7	-13.12% Apr 1, 2004 - Oct 27, 2006	-3.43% Jun 2, 2009 - Jul 20, 2009
#8	-12.90% Nov 5, 1999 - Jul 11, 2000	-2.51% Mar 19, 2009 - May 4, 2009
#9	-10.47% Oct 7, 2002 - May 6, 2003	-2.22% Oct 14, 2009 - Nov 11, 2009
#10	-10.09% Sep 18, 2001 - Sep 4, 2002	-2.20% Jul 29, 2011 - Aug 29, 2011
#11	-8.71% Aug 18, 2021 - Dec 20, 2021	-2.14% Sep 18, 2009 - Oct 14, 2009
#12	-7.75% Jul 7, 2003 - Dec 18, 2003	-1.88% Aug 4, 2009 - Aug 25, 2009
#13	-7.05% Aug 5, 2020 - Dec 15, 2020	-1.52% Feb 3, 2009 - Feb 9, 2009
#14	-6.52% Feb 2, 2015 - Oct 21, 2015	-1.10% May 22, 2009 - Jun 1, 2009
#15	-5.79% Jul 8, 2016 - Aug 17, 2016	-1.05% Nov 11, 2009 - Nov 25, 2009

Correlation

Correlation between PMO and BWZ is -0.63 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.63

-101

Dividend Comparison (2000 - 2026)

PMO vs BWZ dividend yield comparison.

Year	PMO	BWZ
2026	1.86%	0.86%
2025	4.25%	2.05%
2024	4.15%	2.47%
2023	4.64%	1.63%
2022	5.87%	0.44%
2021	4.42%	0.60%
2020	4.65%	0.13%
2019	4.85%	0.43%
2018	5.55%	1.10%
2017	5.26%	0.40%
2016	5.89%	0.13%
2015	5.81%	0.06%
2014	5.95%	0.19%
2013	6.35%	0.09%
2012	5.82%	0.01%
2011	6.48%	3.53%
2010	7.32%	0.19%
2009	6.70%	1.61%
2008	7.36%	0.00%
2007	5.10%	0.00%
2006	5.04%	0.00%
2005	6.25%	0.00%
2004	7.59%	0.00%
2003	7.25%	0.00%
2002	7.47%	0.00%
2001	7.09%	0.00%
2000	2.91%	0.00%