Equity Active

PEMX Putnam Emerging Markets Ex-China ETF

Concentrated, best-ideas approach. Seeks to capitalize on inefficiencies by targeting 30–60 high-conviction names.
Focus on mispriced earnings. Seeks to overweight high-quality names where we have a differentiated view on earnings.
Seeks to deliver an asymmetric return profile. Emphasizes quality bias to pursue upside potential and limit downside.

Overview

See the risks and other important information.

Fund Facts

Fund description

The fund seeks long-term capital appreciation. The fund invests mainly in common stocks (growth or value stocks or both) of emerging market companies of any size.

Benchmark: MSCI Emerging Markets ex-China Index-NR
Dividend Frequency, if any: Annually
Fund Inception Date: 05/17/2023
Listing Exchange: NYSE Arca

Expenses & Fees

As of 09/01/2025

Gross Expense Ratio³: 0.70%
Net Expense Ratio^3,4: 0.69%

Identifiers

Ticker: PEMX
Intraday NAV: PEMX.IV
CUSIP Code: 746729847
ISIN Code: US7467298474
Bloomberg Code: PEMX US

Average Annual Total Returns As of 02/28/2026

View performance section for additional info As of 02/28/2026

Market Price Return

NAV Return

67.87%1 Year
—3 Years
—5 Years
—10 Years
32.84%Since Inception
05/17/2023

Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.

Geographic Focus

View portfolio section for additional info

As of 02/28/2026 % of Total (Updated Monthly)

Geographic Focus
Taiwan28.14%
South Korea22.95%
India17.78%
Brazil6.75%
Saudi Arabia3.66%

Additional Fund Info

Fiscal Year End: April 30
ETF Type: Active
Morningstar Category⁵: Diversified Emerging Markets

Trading Characteristics

As of 03/30/2026 (Updated Daily)

Shares Outstanding: 250,000
Daily Volume: 349
20-Day Average Volume: 461.95

Manager and Commentary

About the Team

Putnam Investments

Putnam Investments has been serving clients and shareholders for over 85 years. We manage a range of equity portfolios with a focus on stock-specific opportunities. Our approach — stock-driven rather than style-driven — is designed to offer consistent outperformance, regardless of the market environment. Our portfolios are fueled by a variety of independent views and perspectives, enhanced by fundamental research and ongoing dialogue and debate. We combine this with portfolio construction that aims to reduce broader macro exposures and manage downside risk.

Putnam Investments

Managed Fund Since 2023

Latest Insights

February 19, 2026

Strong fundamentals and AI create exciting opportunities for US equities in 2026

January 8, 2026

Quick Thoughts: Venezuela—oil and gas optionality is large, but the rebuild is capital-intensive

December 10, 2025

US Equities in 2026: What could go right?

August 14, 2025

US equities: Earnings growth is key for sustained market gains

Performance

Calendar Year Returns

As of 02/28/2026

Month End

Quarter End

Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Returns are based on Market Price or NAV, assume the reinvestment of all distributions and the deduction of all Fund expenses. Performance would have been lower if expenses had not been waived in various periods. Returns for periods of less than one year are not annualized.

Putnam Emerging Markets Ex-China ETF - Market Price Return (%)

Putnam Emerging Markets Ex-China ETF - NAV Return (%)

MSCI Emerging Markets ex-China Index-NR (%)

Portfolio

Assets

As of03/31/2026 (Updated Daily)

Total Net Assets: $16.88 Million

Positions

As of 02/28/2026 (Updated Monthly)

Number of Issuers

Fund: 52

Portfolio Statistics

As of 02/28/2026 (Updated Monthly)

Weighted Average Market Capitalization (USD)

Fund: $478.14 Billion

Price to Earnings (12-Month Forward)

Fund: 14.54x

Price to Book

Fund: 3.55x

Sector Allocation

As of 02/28/2026 % of Total (Updated Monthly)

Sector Allocation
Sector	% of Total
Information Technology	38.11%
Financials	24.93%
Industrials	9.39%
Communication Services	6.58%
Utilities	4.92%
Consumer Discretionary	4.82%
Materials	3.31%
Real Estate	1.70%
Consumer Staples	1.47%
Health Care	1.35%
Cash & Other Net Assets	3.41%

Holdings
As of 03/31/2026 (Updated Daily)

TAIWAN SEMICONDUCTOR MANU

SAMSUNG ELECTRONICS CO LT

PUTNAM GOVT MMKT FND-P

ITAU UNIBANCO HOLDING S-P

CIA SANEAMENTO BASICO DE

SK HYNIX INC

KB FINANCIAL GROUP INC

BHARTI AIRTEL LTD

NTPC LTD

ANGLOGOLD ASHANTI PLC

Distributions & Tax

Federal ID Number 88-3577462

For information on tax years prior to 2008, please contact us

These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.

Distributions per Share ($)

Year

Tax Information
Record Date	Ordinary Dividends Dividends paid by a fund that are derived from interest, dividends, net short-term capital gains and other types of ordinary income earned by the fund. For a fund that elects to pass through its foreign taxes paid (a non-cash item), a shareholder's allotted share of foreign taxes has been added to the “Ordinary Dividends” cash distributions received by the shareholder. If the fund passed through foreign taxes paid and later is refunded any portion of those taxes by a foreign tax authority, any interest paid to the fund on that refund is also required to be included in “Ordinary Dividends”.	Qualified Dividends The portion of a fund’s “Ordinary Dividends” that may be eligible for a reduced capital gain tax rate. To be eligible for the lower tax rates, certain holding periods apply and shareholders should consult their tax advisor to determine the amount eligible for the reduced rate. This amount represents both cash distributions and non-cash amounts, such as foreign taxes paid, that have been allocated to shareholders.	Capital Gain Distributions	Unrecaptured Section 1250 Gain	Non-Taxable Return Of Capital	Section 199a Dividends The portion of a fund’s “Ordinary Dividends” generated by a real estate investment trust or earned by a fund from its investments in real estate investment trusts, subject to limitations. Individual (non-corporate) shareholders may be entitled to a special deduction from gross income for “Section 199A Dividends” received from a fund. To qualify for this deduction certain holding periods apply and shareholders should consult their tax advisor.	Foreign Tax Paid	Exempt Interest Dividends	Interest on Tax Reclaim Refunds
Dec 19	2.125294	0.451413	2.50774	—	—	—	0.132014	—	—
	2.125294	0.451413	2.50774	—	—	—	0.132014	—	—

Dec 19

Supplemental Tax Information

Foreign Source Income: 35.31%
Foreign Source Qualified Dividends: 11.95%
Direct U.S. Government Obligations The portion of “Ordinary Dividends” attributable to earnings from US Treasury and certain other government securities may be categorized as a fund containing US government obligations. This income may be exempt from state personal income taxes. The percentage for direct US government obligation interests available for tax-exempt treatment may be limited in states that require the fund to meet certain minimum thresholds. Shareholders should consult their tax advisor to determine the availability of exemptions in their state.: —
Specified Private Activity Bond Interest: —
Dividends Received Deduction: —
Section 163(j): —
Indiana Resident Taxable Income: —
Utah Resident Taxable Income The portion of “Exempt-Interest Dividends” subject to Utah income tax. Subject to certain exceptions, the state of Utah provides that income earned from non-federal government entities outside of Utah (non-Utah municipal bonds) is taxable to Utah resident shareholders. Income earned from states that do not tax Utah obligations are also exempt. Shareholders should consult their tax advisor about applicability.: —

Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Pricing

Pricing History

As of 03/30/2026 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices

As of 03/30/2026

Share Prices

As of 03/30/2026

NAV ¹(Net Asset Value): $68.10
NAV Change ¹: $0.00
NAV Change (%) ¹: 0.00%
Market Price ¹: $67.32
Market Price Change ¹: $-0.86
Market Price Change (%) ¹: -1.28%

52-Week Range

Highest NAV As of 02/26/2026: $79.12
Lowest NAV As of 04/07/2025: $46.60
Highest Market Price As of 02/26/2026: $78.21
Lowest Market Price As of 04/07/2025: $46.60

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download	Add to Cart
Checkbox	Factsheet - Putnam Emerging Markets ex-China ETF	Download Document

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Annual Report - Putnam Emerging Markets ex-China ETF	Download Document
Checkbox	Annual Financial Statements and Other Information - Putnam Emerging Markets ex-China ETF	Download Document
Checkbox	Semi-Annual Report - Putnam Emerging Markets Ex-China ETF - Single Class	Download Document
Checkbox	Semi-Annual Financial Statements and Other Information - Putnam Emerging Markets ex-China ETF	Download Document
Checkbox	Prospectus - Putnam Emerging Markets Ex-China ETF	Download Document
Checkbox	Summary Prospectus - Putnam Emerging Markets ex-China ETF	Download Document
Checkbox	Statement of Additional Information- Putnam ETF Trust	Download Document
Checkbox	Fiscal Q1 Holdings - Putnam Emerging Markets Ex-China ETFMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q3 Holdings - Putnam Emerging Markets Ex-China ETFMailed hardcopies unavailable.	Download Document

Risks

All investments involve risks, including possible loss of principal. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. The portfolio is non-diversified and may invest in a relatively small number of issuers, which may negatively impact the performance and result in greater fluctuation in value. The investment style may become out of favor, which may have a negative impact on performance. Active management does not ensure gains or protect against market declines. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus. When the fund’s size is small, the fund may experience low trading volume and wide bid/ask spreads.

Important Information

Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.

Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

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Important data provider notices and terms available at www.franklintempletondatasources.com.

Performance data quoted represents past performance, which does not guarantee future results.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.

Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

The MSCI Emerging Markets ex-China Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets excluding China. Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.

Net Returns (NR) include income net of tax withholding when dividends are paid.

Putnam funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.

Franklin Distributors, LLC. Member FINRA/SIPC. Putnam Investment is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.

Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.

Footnotes

Net Asset Value (NAV) returns are based on the NAV of the ETF/ETP. The fund’s NAV represents the per-share-value and is determined by dividing the total NAV of the fund by the number of shares outstanding; Market Price returns are based upon the official closing price of the ETF’s/ETP's shares. The fund calculates the NAV per share each business day and normally coincides with the close of trading on the exchange on which they are listed, typically 4 pm ET. The fund does not calculate the NAV on days the exchange is closed for trading. These returns do not represent investors’ returns had they traded shares at other times.
Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Capitalization Rate is calculated without the deduction of fees and expenses.

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