DDFF vs. PMMY

Last updated Jul 12, 2026

DDFF (Innovator Equity Dual Directional 15 Buffer ETF - February) and PMMY (PGIM S&P 500 Max Buffer ETF - May) are both Defined Outcome funds. Both are actively managed. A 0.68 correlation means they provide meaningful diversification when combined. DDFF charges 0.79%/yr vs 0.50%/yr for PMMY.

Performance

DDFF vs. PMMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - February (DDFF) and PGIM S&P 500 Max Buffer ETF - May (PMMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DDFF

• 1D: 0.27%
• 1M: 0.98%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMMY

• 1D: 0.04%
• 1M: 0.37%
• 6M: 2.23%
• YTD: 2.40%
• 1Y: 5.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDFF vs. PMMY - Yearly Performance Comparison

	2026 (YTD)
DDFF Innovator Equity Dual Directional 15 Buffer ETF - February	3.86%
PMMY PGIM S&P 500 Max Buffer ETF - May	2.07%

Correlation

The correlation between DDFF and PMMY is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 2, 2026	0.68

Return for Risk

DDFF vs. PMMY — Risk / Return Rank

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

DDFF

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

PMMY

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

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.

DDFF vs. PMMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - February (DDFF) and PGIM S&P 500 Max Buffer ETF - May (PMMY). 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.

	DDFF	PMMY	Difference
Sharpe ratio: Return per unit of total volatility	—	4.02	—
Sortino ratio: Return per unit of downside risk	—	6.23	—
Omega ratio: Gain probability vs. loss probability	—	2.02	—
Calmar ratio: Return relative to maximum drawdown	—	8.77	—
Martin ratio: Return relative to average drawdown	—	49.81	—

Drawdowns

DDFF vs. PMMY - Drawdown Comparison

The maximum DDFF drawdown since its inception was -3.72%, which is greater than PMMY's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for DDFF and PMMY.

Drawdown Indicators

	DDFF	PMMY	Difference
Max Drawdown Largest peak-to-trough decline	-3.72%	-0.60%	-3.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.60%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.55%	-0.05%	-0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.10%	—

Volatility

Volatility by Period

	DDFF	PMMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.58%	1.30%	+4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.58%	1.51%	+4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.58%	1.51%	+4.07%

DDFF vs. PMMY - Expense Ratio Comparison

DDFF has a 0.79% expense ratio, which is higher than PMMY's 0.50% expense ratio.

Dividends

DDFF vs. PMMY - Dividend Comparison

Neither DDFF nor PMMY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFF and PMMY in my portfolio?

DDFF and PMMY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFF or PMMY?

On fees, PMMY 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, DDFF or PMMY?

PMMY is cheaper with a 0.50% expense ratio, compared with 0.79% for DDFF.

Which ETF pays a higher dividend yield, DDFF or PMMY?

DDFF and PMMY have nearly identical dividend yields, around 0.00%.

What is the main difference between DDFF and PMMY?

They also come from different issuers: Innovator and PGIM. Their fees differ too: 0.79% for DDFF and 0.50% for PMMY.