PMO vs HEQT

Comparison between Putnam Municipal Opportunities Trust (PMO, ETF) and SIMPLIFY HEDGED EQUITY ETF (HEQT, ETF).

5-Year PerformanceHEQT has outperformed PMO, delivering a return of +9.1% compared to -1.1%

PMO vs HEQT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PMO(ETF)	HEQT(ETF)
Net Assets	$315M	$314M
Expense Ratio	N/A	0.43%
Max Drawdown	44.44%	13.07%
Sharpe Ratio	0.99	1.28
5Y Beta	0.18	0.47
5Y Dividends CAGR	-6.84%	N/A

Net Assets

Winner

PMO

$315M

HEQT

$314M

Expense Ratio

PMO

N/A

HEQT

0.43%

Max Drawdown

PMO

44.44%

Winner

HEQT

13.07%

Sharpe Ratio

PMO

0.99

Winner

HEQT

1.28

5Y Beta

Winner

PMO

0.18

HEQT

0.47

5Y Dividends CAGR

PMO

-6.84%

HEQT

N/A

PMO vs HEQT - Historical Returns

Returns include dividend reinvestment.

Period	PMO	HEQT
1 month	-0.55%	+1.07%
3 months	+2.02%	+3.87%
6 months	+2.79%	+5.33%
1 year	+13.25%	+12.64%
5 years(CAGR)	-1.12%	+9.09%
10 years(CAGR)	+2.51%	N/A
Max(CAGR)	+5.19%	+9.09%

PMO

-0.55%

Winner

HEQT

+1.07%

PMO

+2.02%

Winner

HEQT

+3.87%

PMO

+2.79%

Winner

HEQT

+5.33%

Winner

PMO

+13.25%

HEQT

+12.64%

5Y(CAGR)

PMO

-1.12%

Winner

HEQT

+9.09%

10Y(CAGR)

PMO

+2.51%

HEQT

N/A

Max(CAGR)

PMO

+5.19%

Winner

HEQT

+9.09%

PMO vs HEQT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PMO	HEQT
2026	+1.73%	+5.92%
2025	+9.91%	+10.19%
2024	+2.45%	+18.25%
2023	-3.28%	+16.76%
2022	-19.78%	-8.51%
2021	+9.37%	+2.16%
2020	+9.03%	N/A
2019	+21.21%	N/A
2018	-4.43%	N/A
2017	+8.53%	N/A
2016	+2.30%	N/A
2015	+8.40%	N/A
2014	+18.82%	N/A
2013	-14.31%	N/A
2012	+12.61%	N/A
2011	+22.64%	N/A
2010	+4.65%	N/A
2009	+34.84%	N/A
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 HEQT 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 HEQT was -11.51%, occurring on Jun 16, 2022. Recovery took 356 trading sessions.

The current PMO drawdown is -12.15%. The current HEQT drawdown is -0.19%.

Rank	PMO	HEQT
#1	-36.47% Dec 23, 2021 - Oct 23, 2023	-11.51% Jan 4, 2022 - Jun 6, 2023
#2	-30.16% Apr 3, 2007 - Sep 3, 2009	-10.56% Feb 19, 2025 - Jul 22, 2025
#3	-26.06% Feb 25, 2020 - Jul 17, 2020	-5.87% Aug 30, 2023 - Nov 20, 2023
#4	-22.27% Nov 30, 2012 - Jan 15, 2015	-5.09% Feb 25, 2026 - Apr 16, 2026
#5	-15.92% Oct 18, 2010 - Aug 17, 2011	-5.04% Jul 16, 2024 - Aug 19, 2024
#6	-14.04% Aug 22, 2016 - Feb 14, 2019	-2.99% Aug 30, 2024 - Sep 16, 2024
#7	-13.12% Apr 1, 2004 - Oct 27, 2006	-2.90% Dec 11, 2024 - Jan 22, 2025
#8	-12.90% Nov 5, 1999 - Jul 11, 2000	-2.68% Mar 28, 2024 - May 6, 2024
#9	-10.47% Oct 7, 2002 - May 6, 2003	-2.57% Nov 11, 2025 - Nov 28, 2025
#10	-10.09% Sep 18, 2001 - Sep 4, 2002	-2.26% Jul 31, 2023 - Aug 30, 2023
#11	-8.71% Aug 18, 2021 - Dec 20, 2021	-2.03% Nov 18, 2021 - Dec 8, 2021
#12	-7.75% Jul 7, 2003 - Dec 18, 2003	-1.61% Jun 2, 2026 - Jun 16, 2026
#13	-7.05% Aug 5, 2020 - Dec 15, 2020	-1.51% Feb 2, 2026 - Feb 9, 2026
#14	-6.52% Feb 2, 2015 - Oct 21, 2015	-1.48% Dec 15, 2021 - Dec 23, 2021
#15	-5.79% Jul 8, 2016 - Aug 17, 2016	-1.47% Dec 11, 2025 - Dec 22, 2025

Correlation

Correlation between PMO and HEQT is 0.41 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.41

-101

Dividend Comparison (2000 - 2026)

PMO vs HEQT dividend yield comparison.

Year	PMO	HEQT
2026	2.35%	0.59%
2025	4.25%	1.19%
2024	4.15%	1.29%
2023	4.64%	4.10%
2022	5.87%	3.94%
2021	4.42%	0.27%
2020	4.65%	0.00%
2019	4.85%	0.00%
2018	5.55%	0.00%
2017	5.26%	0.00%
2016	5.89%	0.00%
2015	5.81%	0.00%
2014	5.95%	0.00%
2013	6.35%	0.00%
2012	5.82%	0.00%
2011	6.48%	0.00%
2010	7.32%	0.00%
2009	6.70%	0.00%
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%