AOCT vs. PMJL
AOCT (Innovator Equity Defined Protection ETF - 2 Yr to October 2026) and PMJL (PGIM S&P 500 Max Buffer ETF - July) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. AOCT charges 0.79%/yr vs 0.50%/yr for PMJL.
Performance
AOCT vs. PMJL - Performance Comparison
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Returns By Period
In the year-to-date period, AOCT achieves a 2.49% return, which is significantly lower than PMJL's 2.63% return.
AOCT
- 1D
- -0.07%
- 1M
- 0.72%
- YTD
- 2.49%
- 6M
- 2.99%
- 1Y
- 7.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMJL
- 1D
- -0.02%
- 1M
- 0.61%
- YTD
- 2.63%
- 6M
- 3.15%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AOCT vs. PMJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AOCT Innovator Equity Defined Protection ETF - 2 Yr to October 2026 | 2.49% | 3.36% |
PMJL PGIM S&P 500 Max Buffer ETF - July | 2.63% | 3.39% |
Correlation
The correlation between AOCT and PMJL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025 | 0.84 |
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Return for Risk
AOCT vs. PMJL — Risk / Return Rank
AOCT
PMJL
AOCT vs. PMJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 2 Yr to October 2026 (AOCT) and PGIM S&P 500 Max Buffer ETF - July (PMJL). 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.
| AOCT | PMJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.60 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | — | — |
| Martin ratioReturn relative to average drawdown | 24.23 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AOCT | PMJL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 3.23 | -1.79 |
Drawdowns
AOCT vs. PMJL - Drawdown Comparison
The maximum AOCT drawdown since its inception was -3.71%, which is greater than PMJL's maximum drawdown of -1.49%. Use the drawdown chart below to compare losses from any high point for AOCT and PMJL.
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Drawdown Indicators
| AOCT | PMJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -1.49% | -2.22% |
Max Drawdown (1Y)Largest decline over 1 year | -1.65% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.02% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -0.12% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | — | — |
Volatility
AOCT vs. PMJL - Volatility Comparison
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Volatility by Period
| AOCT | PMJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.95% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 2.06% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.89% | 2.06% | +1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.89% | 2.06% | +1.83% |
AOCT vs. PMJL - Expense Ratio Comparison
AOCT has a 0.79% expense ratio, which is higher than PMJL's 0.50% expense ratio.
Dividends
AOCT vs. PMJL - Dividend Comparison
Neither AOCT nor PMJL has paid dividends to shareholders.
Frequently Asked Questions
AOCT and PMJL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PMJL is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PMJL is cheaper with a 0.50% expense ratio, compared with 0.79% for AOCT.
AOCT and PMJL have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Innovator and PGIM. Their fees differ too: 0.79% for AOCT and 0.50% for PMJL.
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