APRB vs. PMNV

Last updated Jun 4, 2026

APRB (Aptus April Buffer ETF) and PMNV (PGIM S&P 500 Max Buffer ETF - November) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.86 suggests significant overlap in exposure. APRB charges 0.25%/yr vs 0.50%/yr for PMNV.

Performance

APRB vs. PMNV - 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 - November (PMNV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRB achieves a 4.77% return, which is significantly higher than PMNV's 2.91% return.

APRB

• 1D: -0.11%
• 1M: 1.69%
• YTD: 4.77%
• 6M: 5.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMNV

• 1D: -0.05%
• 1M: 1.01%
• YTD: 2.91%
• 6M: 3.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRB vs. PMNV - Yearly Performance Comparison

	2026 (YTD)	2025
APRB Aptus April Buffer ETF	4.77%	1.07%
PMNV PGIM S&P 500 Max Buffer ETF - November	2.91%	0.54%

Correlation

The correlation between APRB and PMNV is 0.86, 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 Nov 4, 2025	0.86

Return for Risk

APRB vs. PMNV - 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 - November (PMNV). 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.

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

Sharpe Ratios by Period

	APRB	PMNV	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	2.32	-0.32

Drawdowns

APRB vs. PMNV - Drawdown Comparison

The maximum APRB drawdown since its inception was -4.59%, which is greater than PMNV's maximum drawdown of -1.65%. Use the drawdown chart below to compare losses from any high point for APRB and PMNV.

Drawdown Indicators

	APRB	PMNV	Difference
Max Drawdown Largest peak-to-trough decline	-4.59%	-1.65%	-2.94%
Current Drawdown Current decline from peak	-0.11%	-0.05%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.23%	-0.51%

Volatility

Volatility by Period

	APRB	PMNV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.98%	2.64%	+3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.98%	2.64%	+3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.98%	2.64%	+3.34%

APRB vs. PMNV - Expense Ratio Comparison

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

Dividends

APRB vs. PMNV - Dividend Comparison

Neither APRB nor PMNV has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both APRB and PMNV in my portfolio?

APRB and PMNV have a correlation of 0.86, 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 PMNV?

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 PMNV?

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

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

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

What is the main difference between APRB and PMNV?

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