APRP vs. PSDM

Last updated Jun 3, 2026

APRP (PGIM US Large-Cap Buffer 12 ETF - April) and PSDM (PGIM Short Duration Multi-Sector Bond ETF) are both exchange-traded funds - APRP is a Options Trading fund actively managed by PGIM, while PSDM is a Multisector Bonds fund actively managed by PGIM. Both are actively managed. Over the past year, APRP returned 18.46% vs 5.25% for PSDM. At a 0.16 correlation, their price movements are largely independent. APRP charges 0.50%/yr vs 0.40%/yr for PSDM.

Performance

APRP vs. PSDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 12 ETF - April (APRP) and PGIM Short Duration Multi-Sector Bond ETF (PSDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRP achieves a 9.54% return, which is significantly higher than PSDM's 1.33% return.

APRP

• 1D: 0.03%
• 1M: 1.84%
• YTD: 9.54%
• 6M: 10.64%
• 1Y: 18.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSDM

• 1D: -0.06%
• 1M: 0.18%
• YTD: 1.33%
• 6M: 1.79%
• 1Y: 5.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRP vs. PSDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APRP PGIM US Large-Cap Buffer 12 ETF - April	9.54%	7.80%	10.28%
PSDM PGIM Short Duration Multi-Sector Bond ETF	1.33%	6.16%	4.74%

Correlation

The correlation between APRP and PSDM is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.16

The correlation between APRP and PSDM shifts across timeframes, from 0.16 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

APRP vs. PSDM — Risk / Return Rank

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

APRP

APRP Risk / Return Rank: 98
APRP Sharpe Ratio Rank: 96
APRP Sortino Ratio Rank: 98
APRP Omega Ratio Rank: 98
APRP Calmar Ratio Rank: 98
APRP Martin Ratio Rank: 98

PSDM

PSDM Risk / Return Rank: 89
PSDM Sharpe Ratio Rank: 88
PSDM Sortino Ratio Rank: 95
PSDM Omega Ratio Rank: 93
PSDM Calmar Ratio Rank: 82
PSDM Martin Ratio Rank: 89

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.

APRP vs. PSDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 12 ETF - April (APRP) and PGIM Short Duration Multi-Sector Bond ETF (PSDM). 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.

	APRP	PSDM	Difference
Sharpe ratio Return per unit of total volatility	4.29	3.02	+1.27
Sortino ratio Return per unit of downside risk	7.33	5.17	+2.17
Omega ratio Gain probability vs. loss probability	2.08	1.66	+0.42
Calmar ratio Return relative to maximum drawdown	17.17	4.38	+12.80
Martin ratio Return relative to average drawdown	76.71	19.85	+56.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APRP vs. PSDM - Sharpe Ratio Comparison

The current APRP Sharpe Ratio is 4.29, which is higher than the PSDM Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of APRP and PSDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APRP	PSDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.29	3.02	+1.27
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	2.99	-1.62

Drawdowns

APRP vs. PSDM - Drawdown Comparison

The maximum APRP drawdown since its inception was -13.66%, which is greater than PSDM's maximum drawdown of -1.19%. Use the drawdown chart below to compare losses from any high point for APRP and PSDM.

Drawdown Indicators

	APRP	PSDM	Difference
Max Drawdown Largest peak-to-trough decline	-13.66%	-1.19%	-12.47%
Max Drawdown (1Y) Largest decline over 1 year	-1.09%	-1.19%	+0.10%
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.23%	-0.17%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.24%	0.26%	-0.02%

Volatility

APRP vs. PSDM - Volatility Comparison

PGIM US Large-Cap Buffer 12 ETF - April (APRP) has a higher volatility of 1.17% compared to PGIM Short Duration Multi-Sector Bond ETF (PSDM) at 0.54%. This indicates that APRP's price experiences larger fluctuations and is considered to be riskier than PSDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRP	PSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	0.54%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	3.36%	1.27%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	1.75%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.50%	2.01%	+7.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.50%	2.01%	+7.49%

APRP vs. PSDM - Expense Ratio Comparison

APRP has a 0.50% expense ratio, which is higher than PSDM's 0.40% expense ratio.

Dividends

APRP vs. PSDM - Dividend Comparison

APRP has not paid dividends to shareholders, while PSDM's dividend yield for the trailing twelve months is around 4.84%.

Position	TTM	2025	2024	2023
APRP PGIM US Large-Cap Buffer 12 ETF - April	0.00%	0.00%	0.00%	0.00%
PSDM PGIM Short Duration Multi-Sector Bond ETF	4.84%	4.57%	5.17%	2.91%

Frequently Asked Questions

Can I hold both APRP and PSDM in my portfolio?

APRP and PSDM have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRP or PSDM?

APRP has higher volatility (1.17%) compared to PSDM (0.54%). In terms of maximum drawdown, APRP dropped -13.66% vs PSDM's -1.19%.

Which ETF is better, APRP or PSDM?

On 1-year performance, APRP leads with 18.46% vs 5.25% for PSDM. On fees, PSDM is cheaper at 0.40% per year. On volatility, PSDM has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRP or PSDM?

Over the 1-year period, APRP has performed better with a 18.46% return vs 5.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRP or PSDM?

PSDM is cheaper with a 0.40% expense ratio, compared with 0.50% for APRP.

Which ETF pays a higher dividend yield, APRP or PSDM?

PSDM has the higher dividend yield at 4.84%, compared with 0.00% for APRP.

What is the main difference between APRP and PSDM?

APRP is categorized as Options Trading, while PSDM is Multisector Bonds. Their fees differ too: 0.50% for APRP and 0.40% for PSDM.

Which has better risk-adjusted returns?

APRP currently has the higher Sharpe Ratio (4.29 vs 3.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.