PGIM S&P 500 Max Buffer ETF - September (PMSE) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PMSE. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PMSE
PMSE charges 0.50% annually. There are 5 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | PMSE vs OCTB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | PMSE vs JULB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | PMSE vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | PMSE vs APRB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | PMSE vs FBUF |
Best Risk-Adjusted Alternatives to PMSE
Among 221 ETFs in the Defined Outcome category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | PMSE vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | PMSE vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | PMSE vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | PMSE vs ZAPR | |
| Innovator U.S. Equity Power Buffer ETF - April | 98 | 952.31M | Apr 2019 | PMSE vs PAPR |
Top Performing PMSE Alternatives (YTD)
PMSE is at 2.77% YTD. There are 200 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | PMSE vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.09% | — | Jan 2025 | PMSE vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 12.41% | 216.78M | Mar 2020 | PMSE vs KAPR | |
| FT Vest Emerging Markets Buffer ETF - March | 12.21% | — | Mar 2025 | PMSE vs TMAR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.31% | 563.55M | Mar 2021 | PMSE vs QMAR |
Lowest Volatility Alternatives to PMSE
PMSE has 2.28% 1-year volatility. There are 39 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.17%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.17% | — | Mar 2025 | PMSE vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.22% | — | Apr 2025 | PMSE vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.29% | — | Apr 2025 | PMSE vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.35% | 19.60M | Apr 2025 | PMSE vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.43% | — | Mar 2025 | PMSE vs MMAX |
Lowest Drawdown Alternatives to PMSE
Among 223 ETFs in the Defined Outcome category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | PMSE vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | PMSE vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | PMSE vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | PMSE vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.30M | May 2024 | PMSE vs CPSM |
Other ETFs from PGIM
The 10 most viewed PGIM ETFs shown here include PAAA, PULS, PFRL and span 10 categories. AUM among these funds goes as high as $17B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PGIM AAA CLO ETF | CLO | 99 | 2.24% | 10.61B | Jul 2023 | PMSE vs PAAA | |
| PGIM Ultra Short Bond ETF | Ultrashort Bond | 99 | 1.94% | 17.34B | Apr 2018 | PMSE vs PULS | |
| PGIM Floating Rate Income ETF | Bank Loan | 93 | 2.36% | 116.68M | May 2022 | PMSE vs PFRL | |
| PGIM Short Duration Multi-Sector Bond ETF | Multisector Bonds | 89 | 1.40% | — | Jul 2023 | PMSE vs PSDM | |
| PGIM Laddered S&P 500 Buffer 12 ETF | Defined Outcome, S&P 500 | 84 | 5.50% | 183.97M | Jun 2024 | PMSE vs BUFP | |
| PGIM Ultra Short Municipal Bond ETF | Municipal Bonds | 91 | 1.46% | 98.37M | Jun 2024 | PMSE vs PUSH | |
| PGIM Short Duration High Yield ETF | High Yield Bonds | 75 | 2.21% | 160.90M | Dec 2023 | PMSE vs PSH | |
| PGIM Laddered S&P 500 Buffer 20 ETF | Defined Outcome, S&P 500 | 89 | 4.17% | 154.43M | Jun 2024 | PMSE vs PBFR | |
| PGIM Total Return Bond ETF | Intermediate Core-Plus Bond | 37 | 1.06% | 1.05B | Dec 2021 | PMSE vs PTRB | |
| PGIM Jennison Focused Growth ETF | Large Cap Growth Equities | 18 | 0.89% | 150.02M | Dec 2022 | PMSE vs PJFG |
Often Compared With PMSE
Investors most often compare PMSE with DDTL, COIO, FEBU. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare PMSE with Any Fund or Stock
Compare PMSE with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PMSE with funds that move differently
PGIM S&P 500 Max Buffer ETF - September alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PMSE.
Explore PMSE Diversifiers