AUGM vs. PMSE

Last updated Jun 24, 2026

AUGM (FT Vest U.S. Equity Max Buffer ETF - August) and PMSE (PGIM S&P 500 Max Buffer ETF - September) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. AUGM charges 0.85%/yr vs 0.50%/yr for PMSE.

Performance

AUGM vs. PMSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - August (AUGM) and PGIM S&P 500 Max Buffer ETF - September (PMSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUGM achieves a 2.65% return, which is significantly lower than PMSE's 2.81% return.

AUGM

• 1D: -0.26%
• 1M: 0.13%
• YTD: 2.65%
• 6M: 2.67%
• 1Y: 6.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMSE

• 1D: -0.15%
• 1M: 0.19%
• YTD: 2.81%
• 6M: 2.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUGM vs. PMSE - Yearly Performance Comparison

	2026 (YTD)	2025
AUGM FT Vest U.S. Equity Max Buffer ETF - August	2.65%	2.03%
PMSE PGIM S&P 500 Max Buffer ETF - September	2.81%	2.13%

Correlation

The correlation between AUGM and PMSE is 0.90, 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 Sep 2, 2025	0.90

Return for Risk

AUGM vs. PMSE — Risk / Return Rank

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

AUGM

AUGM Risk / Return Rank: 93
AUGM Sharpe Ratio Rank: 94
AUGM Sortino Ratio Rank: 95
AUGM Omega Ratio Rank: 95
AUGM Calmar Ratio Rank: 86
AUGM Martin Ratio Rank: 94

PMSE

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.

AUGM vs. PMSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - August (AUGM) and PGIM S&P 500 Max Buffer ETF - September (PMSE). 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.

	AUGM	PMSE	Difference
Sharpe ratio: Return per unit of total volatility	3.12	—	—
Sortino ratio: Return per unit of downside risk	4.87	—	—
Omega ratio: Gain probability vs. loss probability	1.67	—	—
Calmar ratio: Return relative to maximum drawdown	4.34	—	—
Martin ratio: Return relative to average drawdown	23.86	—	—

Drawdowns

AUGM vs. PMSE - Drawdown Comparison

The maximum AUGM drawdown since its inception was -4.27%, which is greater than PMSE's maximum drawdown of -1.44%. Use the drawdown chart below to compare losses from any high point for AUGM and PMSE.

Drawdown Indicators

	AUGM	PMSE	Difference
Max Drawdown Largest peak-to-trough decline	-4.27%	-1.44%	-2.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.62%	—	—
Current Drawdown Current decline from peak	-0.26%	-0.15%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.34%	-0.17%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	—	—

Volatility

Volatility by Period

	AUGM	PMSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.26%	2.28%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	2.28%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	2.28%	+1.24%

AUGM vs. PMSE - Expense Ratio Comparison

AUGM has a 0.85% expense ratio, which is higher than PMSE's 0.50% expense ratio.

Dividends

AUGM vs. PMSE - Dividend Comparison

Neither AUGM nor PMSE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AUGM and PMSE in my portfolio?

AUGM and PMSE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AUGM or PMSE?

On fees, PMSE 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, AUGM or PMSE?

PMSE is cheaper with a 0.50% expense ratio, compared with 0.85% for AUGM.

Which ETF pays a higher dividend yield, AUGM or PMSE?

AUGM and PMSE have nearly identical dividend yields, around 0.00%.

What is the main difference between AUGM and PMSE?

They also come from different issuers: First Trust and PGIM. Their fees differ too: 0.85% for AUGM and 0.50% for PMSE.