We introduce the Phonetics-Semantics Evaluation Testbed (PSET), a new English-based testbed to evaluate phonetic embeddings. Our testbed is built on the assumption that phonetic embeddings should always prioritize phonetics over semantics, and it therefore leverages homophones and synonyms.We use PSET to test three phonetic embedding models: articulatory embeddings, Phoneme2Vec, and XPhoneBERT. The phonetic-based embeddings solve the task with varying degrees of success, with Phoneme2Vec performing the best.We also test five recent LLMs, GPT-4o, Gemini 2.5 Flash, Llama 3.1-8B, OLMo-7B and OLMo 2-7B. Gemini 2.5 Flash performs better than the other models. With this testbed, we hope to advance the development and evaluation of phonetic embedding models.