Is PML or PMM more undervalued in 2026?

CirclFi compares Pimco Municipal Income Fund II (PML) and Putnam Managed Municipal Income (PMM) using 13 institutional-grade valuation models. PML has a Quality of Company score of 1.8/10 while PMM scores 1.7/10.

Which is a better buy — PML or PMM?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do PML and PMM valuations compare?

PML at $7.48 and PMM at $6.26 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

PML vs PMM Valuation Comparison 2026 — Intrinsic Value Analysis

PML

Asset Management

Pimco Municipal Income Fund II

Quality

1.8

out of 10

Value Trap

—

Price

$7.48

Last close

Models

11/13

Active

PMM

Asset Management

Putnam Managed Municipal Income

Quality

1.7

out of 10

Value Trap

—

Price

$6.26

Last close

Models

7/13

Active

Model-by-Model Comparison

Model	Type	PML Fair Value	PML Upside	PMM Fair Value	PMM Upside
Bayesian DCF	Intrinsic	$1.98	-73.5%	$1.66	-73.5%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$5.45	-27.1%	—	—
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$4.05	-45.5%	$3.35	-46.2%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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PML vs PMM — Which Stock Is More Undervalued?

PML scores higher with a 1.8/10 quality rating vs PMM's 1.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Pimco Municipal Income Fund II (PML) and Putnam Managed Municipal Income (PMM) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

PML currently trades at $7.48 with a QOC of 1.8/10, while PMM trades at $6.26 with a QOC of 1.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).