Calamos Long/Short Equity & Dynamic Income (CPZ) 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 10, 2026.
Summary
Franklin Managed Municipal Income (PMM) has outperformed Calamos Long/Short Equity & Dynamic Income (CPZ) over the past year, losing 4.7% versus a loss of 20.2%. Over five years, PMM leads with a -31.4% price change compared with -39.1% for CPZ. Franklin Managed Municipal Income is the larger company by market cap ($249.7 million vs $248.2 million), about 1.0 times the size.
On valuation, Franklin Managed Municipal Income trades at a lower trailing P/E (10.8x vs 180.6x for Calamos Long/Short Equity & Dynamic Income). Franklin Managed Municipal Income pays a dividend yielding 5.18%, while Calamos Long/Short Equity & Dynamic Income 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 | CPZ | PMM |
|---|---|---|
| Share price | $12.64 | $5.83 |
| Market cap | $248.15M | $249.72M |
| 1-day change | +0.80% | +3.55% |
| YTD return | -13.54% | -7.02% |
| 1-year return | -20.15% | -4.74% |
| 5-year return | -39.05% | -31.41% |
| P/E ratio (TTM) | 180.57 | 10.80 |
| EPS (TTM) | $0.07 | $0.54 |
| Dividend yield | 13.26% | 5.18% |
| Annual dividend | $0.00 | $0.302 |
| 52-week high | $16.10 | $6.60 |
| 52-week low | $12.39 | $5.39 |
| Distance from 52-week high | -21.47% | -11.67% |
| Analyst consensus | — | none |
| Average volume | 70.10K | 133.29K |
| Shares outstanding | 19.63M | 42.83M |
| Sector | Finance | Finance |
| Industry | Trusts Except Educational Religious and Charitable | 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
- PMM has outperformed CPZ by 15.4 percentage points over the past year.
- Calamos Long/Short Equity & Dynamic Income trades at a higher earnings multiple (180.6x vs 10.8x trailing P/E).
- Calamos Long/Short Equity & Dynamic Income offers a meaningfully higher dividend yield (13.26% vs 5.18%).
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
CPZ vs PMM FAQ
Which is bigger, Calamos Long/Short Equity & Dynamic Income or Franklin Managed Municipal Income?
Franklin Managed Municipal Income (PMM) is larger, with a market capitalization of $249.72M compared with $248.15M for Calamos Long/Short Equity & Dynamic Income (CPZ).
Which stock has performed better over the past year, CPZ or PMM?
PMM returned -4.74% over the past 12 months, compared with -20.15% for CPZ (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CPZ or PMM?
PMM has the lower trailing P/E at 10.8, versus 180.6 for CPZ. 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, Calamos Long/Short Equity & Dynamic Income or Franklin Managed Municipal Income?
Calamos Long/Short Equity & Dynamic Income has the higher yield at 13.26%, compared with 5.18% for Franklin Managed Municipal Income.
Are Calamos Long/Short Equity & Dynamic Income and Franklin Managed Municipal Income in the same industry?
Both are in the Finance sector, but in different industries: Trusts Except Educational Religious and Charitable for Calamos Long/Short Equity & Dynamic Income and Investment Managers for Franklin Managed Municipal Income.