APRT vs. PMDE

Last updated Jun 24, 2026

APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - APRT is a Options Trading fund actively managed by Allianz, while PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY). APRT is actively managed, while PMDE is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. APRT charges 0.74%/yr vs 0.50%/yr for PMDE.

Performance

APRT vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) 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, APRT achieves a 9.26% return, which is significantly higher than PMDE's 2.51% return.

APRT

• 1D: -0.51%
• 1M: -0.08%
• YTD: 9.26%
• 6M: 9.39%
• 1Y: 17.60%
• 3Y*: 13.70%
• 5Y*: 10.35%
• 10Y*: —

PMDE

• 1D: -0.14%
• 1M: 0.14%
• YTD: 2.51%
• 6M: 2.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRT vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	9.26%	0.99%
PMDE PGIM S&P 500 Max Buffer ETF - December	2.51%	0.44%

Correlation

The correlation between APRT 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

APRT vs. PMDE — Risk / Return Rank

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

APRT

APRT Risk / Return Rank: 97
APRT Sharpe Ratio Rank: 95
APRT Sortino Ratio Rank: 97
APRT Omega Ratio Rank: 97
APRT Calmar Ratio Rank: 98
APRT Martin Ratio Rank: 98

PMDE

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

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.

APRT vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) 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.

	APRT	PMDE	Difference
Sharpe ratio: Return per unit of total volatility	3.45	—	—
Sortino ratio: Return per unit of downside risk	5.88	—	—
Omega ratio: Gain probability vs. loss probability	1.85	—	—
Calmar ratio: Return relative to maximum drawdown	11.11	—	—
Martin ratio: Return relative to average drawdown	53.57	—	—

Drawdowns

APRT vs. PMDE - Drawdown Comparison

The maximum APRT drawdown since its inception was -14.98%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for APRT and PMDE.

Drawdown Indicators

	APRT	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-14.98%	-1.59%	-13.39%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.98%	—	—
Current Drawdown Current decline from peak	-0.77%	-0.21%	-0.56%
Average Drawdown Average peak-to-trough decline	-2.04%	-0.25%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	—	—

Volatility

Volatility by Period

	APRT	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.14%	2.47%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.80%	2.47%	+8.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	2.47%	+7.80%

APRT vs. PMDE - Expense Ratio Comparison

APRT has a 0.74% expense ratio, which is higher than PMDE's 0.50% expense ratio.

Dividends

APRT vs. PMDE - Dividend Comparison

Neither APRT nor PMDE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.67%
PMDE PGIM S&P 500 Max Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APRT and PMDE in my portfolio?

APRT 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, APRT 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, APRT or PMDE?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.74% for APRT.

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

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

What is the main difference between APRT and PMDE?

APRT is categorized as Options Trading, while PMDE is Defined Outcome. They also come from different issuers: Allianz and PGIM. Their fees differ too: 0.74% for APRT and 0.50% for PMDE.