Ares Dynamic Credit Allocation Fund (ARDC) vs Franklin Managed Municipal Income (PMM)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Franklin Managed Municipal Income (PMM) has outperformed Ares Dynamic Credit Allocation Fund (ARDC) over the past year, losing 8.2% versus a loss of 17.3%. Over five years, ARDC leads with a -31.1% price change compared with -33.8% for PMM. Ares Dynamic Credit Allocation Fund is the larger company by market cap ($272.7 million vs $241.2 million), about 1.1 times the size.
On valuation, Franklin Managed Municipal Income trades at a lower trailing P/E (10.4x vs 54.2x for Ares Dynamic Credit Allocation Fund). Franklin Managed Municipal Income pays a dividend yielding 5.36%, while Ares Dynamic Credit Allocation Fund does not currently pay one.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ARDC | PMM |
|---|---|---|
| Share price | $11.38 | $5.63 |
| Market cap | $272.73M | $241.15M |
| 1-day change | +0.18% | +0.90% |
| YTD return | -14.44% | -10.21% |
| 1-year return | -17.30% | -8.16% |
| 5-year return | -31.11% | -33.76% |
| P/E ratio (TTM) | 54.19 | 10.43 |
| EPS (TTM) | $0.21 | $0.54 |
| Dividend yield | 11.86% | 5.36% |
| Annual dividend | $0.00 | $0.302 |
| 52-week high | $13.99 | $6.60 |
| 52-week low | $11.25 | $5.39 |
| Distance from 52-week high | -18.66% | -14.70% |
| Analyst consensus | — | none |
| Average volume | 111.52K | 132.62K |
| Shares outstanding | 23.97M | 42.83M |
| Sector | Financial Services | Finance |
| Industry | Asset Management | Investment Managers |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Ares Dynamic Credit Allocation Fund trades at a higher earnings multiple (54.2x vs 10.4x trailing P/E).
- Ares Dynamic Credit Allocation Fund offers a meaningfully higher dividend yield (11.86% vs 5.36%).
- The two companies sit in different sectors: Ares Dynamic Credit Allocation Fund in Financial Services and Franklin Managed Municipal Income in Finance.
About Ares Dynamic Credit Allocation Fund
ARDC stock →Ares Dynamic Credit Allocation Fund, Inc. is a closed-ended fixed income fund launched by Ares Management LLC.
Financial Services · Asset Management
About Franklin Managed Municipal Income
PMM stock →Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited.
Finance · Investment Managers
ARDC vs PMM FAQ
Which is bigger, Ares Dynamic Credit Allocation Fund or Franklin Managed Municipal Income?
Ares Dynamic Credit Allocation Fund (ARDC) is larger, with a market capitalization of $272.73M compared with $241.15M for Franklin Managed Municipal Income (PMM).
Which stock has performed better over the past year, ARDC or PMM?
PMM returned -8.16% over the past 12 months, compared with -17.30% for ARDC (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ARDC or PMM?
PMM has the lower trailing P/E at 10.4, versus 54.2 for ARDC. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Ares Dynamic Credit Allocation Fund or Franklin Managed Municipal Income?
Ares Dynamic Credit Allocation Fund has the higher yield at 11.86%, compared with 5.36% for Franklin Managed Municipal Income.
Are Ares Dynamic Credit Allocation Fund and Franklin Managed Municipal Income in the same industry?
No. Ares Dynamic Credit Allocation Fund is in the Financial Services sector, while Franklin Managed Municipal Income is in Finance.