AUGP vs. PMAU

Last updated Jun 4, 2026

AUGP (PGIM S&P 500 Buffer 12 ETF - August) and PMAU (PGIM S&P 500 Max Buffer ETF - August) are both Defined Outcome funds from PGIM. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

AUGP vs. PMAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Buffer 12 ETF - August (AUGP) and PGIM S&P 500 Max Buffer ETF - August (PMAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUGP achieves a 5.66% return, which is significantly higher than PMAU's 2.95% return.

AUGP

• 1D: -0.09%
• 1M: 1.97%
• YTD: 5.66%
• 6M: 6.41%
• 1Y: 18.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMAU

• 1D: -0.02%
• 1M: 0.89%
• YTD: 2.95%
• 6M: 3.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUGP vs. PMAU - Yearly Performance Comparison

	2026 (YTD)	2025
AUGP PGIM S&P 500 Buffer 12 ETF - August	5.66%	6.71%
PMAU PGIM S&P 500 Max Buffer ETF - August	2.95%	2.98%

Correlation

The correlation between AUGP and PMAU is 0.92, 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 Aug 4, 2025	0.92

Return for Risk

AUGP vs. PMAU — Risk / Return Rank

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

AUGP

AUGP Risk / Return Rank: 85
AUGP Sharpe Ratio Rank: 84
AUGP Sortino Ratio Rank: 87
AUGP Omega Ratio Rank: 88
AUGP Calmar Ratio Rank: 75
AUGP Martin Ratio Rank: 90

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.

AUGP vs. PMAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Buffer 12 ETF - August (AUGP) and PGIM S&P 500 Max Buffer ETF - August (PMAU). 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.

	AUGP	PMAU	Difference
Sharpe ratio: Return per unit of total volatility	2.70	—	—
Sortino ratio: Return per unit of downside risk	3.90	—	—
Omega ratio: Gain probability vs. loss probability	1.54	—	—
Calmar ratio: Return relative to maximum drawdown	3.75	—	—
Martin ratio: Return relative to average drawdown	20.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	AUGP	PMAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	2.90	-1.43

Drawdowns

AUGP vs. PMAU - Drawdown Comparison

The maximum AUGP drawdown since its inception was -12.03%, which is greater than PMAU's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for AUGP and PMAU.

Drawdown Indicators

	AUGP	PMAU	Difference
Max Drawdown Largest peak-to-trough decline	-12.03%	-1.79%	-10.24%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	—	—
Current Drawdown Current decline from peak	-0.09%	-0.02%	-0.07%
Average Drawdown Average peak-to-trough decline	-0.99%	-0.17%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	—	—

Volatility

Volatility by Period

	AUGP	PMAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.20%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.87%	2.51%	+4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.68%	2.51%	+7.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.68%	2.51%	+7.17%

AUGP vs. PMAU - Expense Ratio Comparison

Both AUGP and PMAU have an expense ratio of 0.50%.

Dividends

AUGP vs. PMAU - Dividend Comparison

Neither AUGP nor PMAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AUGP and PMAU in my portfolio?

With a correlation of 0.92, AUGP and PMAU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, AUGP or PMAU?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AUGP or PMAU?

AUGP and PMAU have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, AUGP or PMAU?

AUGP and PMAU have nearly identical dividend yields, around 0.00%.