Franklin Managed Municipal Income (PMM) vs Saratoga Investment New (SAR)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Franklin Managed Municipal Income (PMM) has outperformed Saratoga Investment New (SAR) over the past year, losing 8.2% versus a loss of 32.7%. Over five years, PMM leads with a -34.4% price change compared with -49.0% for SAR. Franklin Managed Municipal Income is the larger company by market cap ($241.2 million vs $232.9 million), about 1.0 times the size.
Franklin Managed Municipal Income pays a dividend yielding 5.36%, while Saratoga Investment New 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 | PMM | SAR |
|---|---|---|
| Share price | $5.63 | $14.97 |
| Market cap | $241.15M | $232.93M |
| 1-day change | +0.90% | +0.40% |
| YTD return | -11.00% | -35.11% |
| 1-year return | -8.22% | -32.72% |
| 5-year return | -34.35% | -48.99% |
| P/E ratio (TTM) | 10.43 | — |
| Forward P/E | — | 7.34 |
| EPS (TTM) | $0.54 | $-0.28 |
| Dividend yield | 5.36% | 18.98% |
| Annual dividend | $0.302 | $0.00 |
| 52-week high | $6.60 | $24.07 |
| 52-week low | $5.39 | $13.78 |
| Distance from 52-week high | -14.70% | -37.81% |
| Analyst consensus | none | none |
| Avg. price target upside | — | +41.62% |
| Average volume | 130.80K | 160.05K |
| Shares outstanding | 42.83M | 15.56M |
| Sector | Finance | Finance |
| Industry | Investment Managers | 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 SAR by 24.5 percentage points over the past year.
- Saratoga Investment New offers a meaningfully higher dividend yield (18.98% vs 5.36%).
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
About Saratoga Investment New
SAR stock →Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies.
Finance · Investment Managers
PMM vs SAR FAQ
Which is bigger, Franklin Managed Municipal Income or Saratoga Investment New?
Franklin Managed Municipal Income (PMM) is larger, with a market capitalization of $241.15M compared with $232.93M for Saratoga Investment New (SAR).
Which stock has performed better over the past year, PMM or SAR?
PMM returned -8.22% over the past 12 months, compared with -32.72% for SAR (price return, excluding dividends). Past performance does not predict future results.
Which pays a higher dividend, Franklin Managed Municipal Income or Saratoga Investment New?
Saratoga Investment New has the higher yield at 18.98%, compared with 5.36% for Franklin Managed Municipal Income.
Are Franklin Managed Municipal Income and Saratoga Investment New in the same industry?
Yes. Both are classified in the Investment Managers industry within the Finance sector.