We have analyzed the spatial modulation (SM) OFDM and V-BLAST OFDM systems equipped with particle swarm optimization (PSO)-based partial transmit sequence (PTS) PAPR reduction technique and not ideal side information (SI) transmission; while comparing such transmission schemes with the SM single-carrier (SC) and V-BLAST-SC systems. We observe that under 2 × 4 antennas the SM-SC and V-BLAST SC outperform the SM-OFDM and V-BLAST OFDM. For 4 × 4 antennas the V-BLAST OFDM system, in the linear region or not, results in a better performance than V-BLAST SC. On the other hand, the SM-OFDM system performs better than SM SC system under low saturation.