AMDY vs. PMDE

Last updated Jun 4, 2026

AMDY (YieldMax AMD Option Income Strategy ETF) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - AMDY is a Options Trading fund actively managed by YieldMax, while PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY). AMDY is actively managed, while PMDE is passively managed. A 0.52 correlation means they provide meaningful diversification when combined. AMDY charges 0.99%/yr vs 0.50%/yr for PMDE.

Performance

AMDY vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AMD Option Income Strategy ETF (AMDY) and PGIM S&P 500 Max Buffer ETF - December (PMDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDY achieves a 110.49% return, which is significantly higher than PMDE's 2.61% return.

AMDY

• 1D: 3.39%
• 1M: 46.76%
• YTD: 110.49%
• 6M: 111.80%
• 1Y: 240.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMDE

• 1D: -0.06%
• 1M: 0.86%
• YTD: 2.61%
• 6M: 2.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMDY vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
AMDY YieldMax AMD Option Income Strategy ETF	110.49%	0.12%
PMDE PGIM S&P 500 Max Buffer ETF - December	2.61%	0.46%

Correlation

The correlation between AMDY and PMDE is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 2, 2025	0.52

Return for Risk

AMDY vs. PMDE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMDY

AMDY Risk / Return Rank: 93
AMDY Sharpe Ratio Rank: 97
AMDY Sortino Ratio Rank: 92
AMDY Omega Ratio Rank: 92
AMDY Calmar Ratio Rank: 96
AMDY Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMDY vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMD Option Income Strategy ETF (AMDY) and PGIM S&P 500 Max Buffer ETF - December (PMDE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMDY	PMDE	Difference
Sharpe ratio Return per unit of total volatility	4.53	—	—
Sortino ratio Return per unit of downside risk	4.54	—	—
Omega ratio Gain probability vs. loss probability	1.64	—	—
Calmar ratio Return relative to maximum drawdown	8.77	—	—
Martin ratio Return relative to average drawdown	19.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	AMDY	PMDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	2.54	-1.29

Drawdowns

AMDY vs. PMDE - Drawdown Comparison

The maximum AMDY drawdown since its inception was -53.92%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for AMDY and PMDE.

Drawdown Indicators

	AMDY	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-53.92%	-1.59%	-52.33%
Max Drawdown (1Y) Largest decline over 1 year	-27.59%	—	—
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	-18.02%	-0.26%	-17.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.22%	—	—

Volatility

Volatility by Period

	AMDY	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	39.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	53.40%	2.47%	+50.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.01%	2.47%	+43.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.01%	2.47%	+43.54%

AMDY vs. PMDE - Expense Ratio Comparison

AMDY has a 0.99% expense ratio, which is higher than PMDE's 0.50% expense ratio.

Dividends

AMDY vs. PMDE - Dividend Comparison

AMDY's dividend yield for the trailing twelve months is around 54.91%, while PMDE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	54.91%	80.68%	109.98%	6.68%
PMDE PGIM S&P 500 Max Buffer ETF - December	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMDY and PMDE in my portfolio?

AMDY and PMDE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMDY or PMDE?

On fees, PMDE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMDY or PMDE?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.99% for AMDY.

Which ETF pays a higher dividend yield, AMDY or PMDE?

AMDY has the higher dividend yield at 54.91%, compared with 0.00% for PMDE.

What is the main difference between AMDY and PMDE?

AMDY is categorized as Options Trading, while PMDE is Defined Outcome. They also come from different issuers: YieldMax and PGIM. Their fees differ too: 0.99% for AMDY and 0.50% for PMDE.