APRB vs. PMDE

Last updated Jul 17, 2026

APRB (Aptus April Buffer ETF) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both Defined Outcome funds. APRB is actively managed, while PMDE is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. APRB charges 0.25%/yr vs 0.50%/yr for PMDE.

Performance

APRB vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus April Buffer ETF (APRB) 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, APRB achieves a 5.47% return, which is significantly higher than PMDE's 3.18% return.

APRB

• 1D: -0.22%
• 1M: 0.47%
• 6M: 4.61%
• YTD: 5.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMDE

• 1D: 0.00%
• 1M: 0.45%
• 6M: 2.80%
• YTD: 3.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRB vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
APRB Aptus April Buffer ETF	5.47%	0.64%
PMDE PGIM S&P 500 Max Buffer ETF - December	3.18%	0.44%

Correlation

The correlation between APRB and PMDE is 0.87, 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 Dec 1, 2025	0.87

Return for Risk

APRB vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus April Buffer ETF (APRB) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

APRB vs. PMDE - Drawdown Comparison

The maximum APRB drawdown since its inception was -4.59%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for APRB and PMDE.

Drawdown Indicators

	APRB	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-4.59%	-1.59%	-3.00%
Current Drawdown Current decline from peak	-0.22%	0.00%	-0.22%
Average Drawdown Average peak-to-trough decline	-0.67%	-0.24%	-0.43%

Volatility

Volatility by Period

	APRB	PMDE	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.77%	2.37%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.77%	2.37%	+3.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.77%	2.37%	+3.40%

APRB vs. PMDE - Expense Ratio Comparison

APRB has a 0.25% expense ratio, which is lower than PMDE's 0.50% expense ratio.

Dividends

APRB vs. PMDE - Dividend Comparison

Neither APRB nor PMDE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both APRB and PMDE in my portfolio?

APRB and PMDE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, APRB or PMDE?

On fees, APRB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APRB or PMDE?

APRB is cheaper with a 0.25% expense ratio, compared with 0.50% for PMDE.

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

APRB and PMDE have nearly identical dividend yields, around 0.00%.

What is the main difference between APRB and PMDE?

They also come from different issuers: Aptus Capital Advisors and PGIM. Their fees differ too: 0.25% for APRB and 0.50% for PMDE.