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Launched

Putnam Emerging Markets Ex-China ETF

PEMXNYSE ArcaFranklin TempletonC

$79.11+1.86 (+2.40%)

As of Nov 2, 2026, 11:38 AM ET

C47/ 100

Rank 4 of 9 in Emerging Markets Active Growth

C47/100Rank 4 of 9inEmerging Markets Active Growth
Intraday session: up, 21 prints from 77.25 to 79.11. Range 77.25 to 79.11. Use the arrow keys to read each point.77.5078.0078.5010 AM12 PM2 PM4 PM
Expense ratio
0.70%*
Fund size
$30M
1Y total return
+23.2%
Yield · Last 12 months
5.83%
Holdings
55
Avg volume · 30D
1.41K sh
52W range
low $62.14high $95.20
Launched

*After a fee waiver that ends Aug 31, 2027. Without it: 0.71%.

The ETF.net PEMX Grade

C

Score 47 out of 100

Category
Emerging Markets Active Growth⁠
Rank
4 of 9
Six-pillar profile for PEMX. Scores out of 100: Cost 58, Risk 52, Mission 100, Tradability 19, Holdings 43, Durability 63. Strongest: Mission (100). Weakest: Tradability (19). Leans toward Mission.

Score 47 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B58 out of 100
    Rank 4 of 9

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 2

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C52 out of 100
    Rank 4 of 9

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F19 out of 100
    Rank 8 of 9

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C43 out of 100
    Rank 7 of 9

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B63 out of 100
    Rank 5 of 9

Our read on PEMX

ETF.net Research

In short

CChina swamps most emerging-market funds. PEMX cuts it out entirely and runs an active, roughly 60-stock book across the rest of the developing world, priced well below the typical active EM manager.

Stated mandate

The fund seeks long-term capital appreciation. It invests primarily in emerging-market common stocks outside China and Hong Kong, using active fundamental research to identify companies with favorable investment potential.

Why people hold it

  • 0.70% a year against a 0.95% median for its active peer group. Cheap freight for a stock-picking mandate.
  • About 60 names, not 600. Concentrated enough that the managers' calls actually show up in the portfolio.
  • Does what the label says: an ex-China portfolio measured against the MSCI Emerging Markets ex-China Index, with no China drift in the holdings.franklintempleton.com
  • Trading since 2023 under Franklin Templeton, and it sits in the upper half of the small group of active EM ex-China funds we track.

Worth knowing

  • Not the cheapest door into ex-China: Global X's EMM charges 0.66%.
  • Small and thinly traded. Spreads can widen, so limit orders do the heavy lifting.
  • Zero China by design, so results diverge from a broad EM fund and any China sleeve has to come from somewhere else.franklintempleton.com

PEMX Performance

Launched May 17, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
PEMX$12,321
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PEMX $12,321. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PEMX. Periods over one year show the average yearly return.
PeriodPEMX
Year to date+20.2%
1 month−10.0%
3 months−4.9%
1 year+23.2%
3 yearsper year+30.1%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PEMX
YearReturn barPEMX
2026 YTD+20.2%
2025+33.9%
2024+17.2%
2023+15.1%

History from May 18, 2023

PEMX in the news

PEMX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
5.83%Last 12 months
Payout per share
$4.50Last 12 months
Last payment
$4.50 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.33; Dec 27, 2024 $2.57; Dec 19, 2025 $4.50. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 19, 2025Dec 23, 2025$4.50
Dec 27, 2024Dec 31, 2024$2.57
Dec 26, 2023Dec 29, 2023$0.33

$10,000 in PEMX 3 years ago paid $1,755 in dividends.

PEMX Risk

Risk pillarC52 out of 100Rank 4 of 9 in Emerging Markets Active Growth
How much the fund’s monthly returns vary, scaled to a year.
19.8%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.21
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−19.0%
41 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.18
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

PEMX Cost

Compare PEMX and FFEM

Overpaying vs FFEM, cheapest in Emerging Markets Active Growth

$1,789

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PEMX 0.70%

    $13,606

  • FFEM 0.60% Cheapest

    $11,817

$10,000
30 years

Cost over time

  • PEMX 0.70%
  • FFEM 0.60%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PEMX $13,606FFEM $11,817

Year by year

YearPEMXFFEMOverpaying
10$1,250$1,076$174
20$4,760$4,116$644
30$13,606$11,817$1,789
How the 0.70% is worked out

Full fee 0.71%− waiver 0.01%= you pay 0.70%

The waiver ends Aug 31, 2027. After that the fee is 0.71% unless Franklin Templeton renews it. Source: prospectus, Aug 2026.

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