ARLU vs. PMDE

Last updated Jul 17, 2026

ARLU (Allianzim U.S. Equity Buffer15 Uncapped Apr ETF) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - ARLU 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). ARLU is actively managed, while PMDE is passively managed. Their correlation of 0.89 suggests significant overlap in exposure. ARLU charges 0.74%/yr vs 0.50%/yr for PMDE.

Performance

ARLU vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU) 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, ARLU achieves a 5.69% return, which is significantly higher than PMDE's 3.18% return.

ARLU

• 1D: -0.42%
• 1M: -0.10%
• 6M: 4.33%
• YTD: 5.69%
• 1Y: 14.21%
• 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)

ARLU vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
ARLU Allianzim U.S. Equity Buffer15 Uncapped Apr ETF	5.69%	-0.04%
PMDE PGIM S&P 500 Max Buffer ETF - December	3.18%	0.44%

Correlation

The correlation between ARLU and PMDE is 0.89, 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	0.89

Return for Risk

ARLU vs. PMDE — Risk / Return Rank

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

ARLU

ARLU Risk / Return Rank: 41
ARLU Sharpe Ratio Rank: 42
ARLU Sortino Ratio Rank: 40
ARLU Omega Ratio Rank: 41
ARLU Calmar Ratio Rank: 35
ARLU Martin Ratio Rank: 48

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.

ARLU vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU) 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.

	ARLU	PMDE	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.72	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.48	—	—
Martin ratio: Return relative to average drawdown	6.30	—	—

Drawdowns

ARLU vs. PMDE - Drawdown Comparison

The maximum ARLU drawdown since its inception was -15.38%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for ARLU and PMDE.

Drawdown Indicators

	ARLU	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-15.38%	-1.59%	-13.79%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	—	—
Current Drawdown Current decline from peak	-1.21%	0.00%	-1.21%
Average Drawdown Average peak-to-trough decline	-2.22%	-0.24%	-1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	—	—

Volatility

Volatility by Period

	ARLU	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.61%	2.37%	+9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.54%	2.37%	+10.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.54%	2.37%	+10.17%

ARLU vs. PMDE - Expense Ratio Comparison

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

Dividends

ARLU vs. PMDE - Dividend Comparison

Neither ARLU nor PMDE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ARLU and PMDE in my portfolio?

ARLU and PMDE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ARLU 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, ARLU or PMDE?

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

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

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

What is the main difference between ARLU and PMDE?

ARLU 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 ARLU and 0.50% for PMDE.