DDFY vs. PMAP

Last updated Jun 6, 2026

DDFY (Innovator Equity Dual Directional 15 Buffer ETF - May) and PMAP (PGIM S&P 500 Max Buffer ETF - April) are both Defined Outcome funds. DDFY is passively managed, while PMAP is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. DDFY charges 0.79%/yr vs 0.50%/yr for PMAP.

Performance

DDFY vs. PMAP - Performance Comparison

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

Returns By Period

DDFY

• 1D: -0.82%
• 1M: 0.18%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMAP

• 1D: -0.18%
• 1M: 0.18%
• YTD: 3.13%
• 6M: 3.59%
• 1Y: 7.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDFY vs. PMAP - Yearly Performance Comparison

	2026 (YTD)
DDFY Innovator Equity Dual Directional 15 Buffer ETF - May	0.63%
PMAP PGIM S&P 500 Max Buffer ETF - April	0.29%

Correlation

The correlation between DDFY and PMAP is 0.79, 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 May 4, 2026	0.79

Return for Risk

DDFY vs. PMAP — Risk / Return Rank

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

PMAP

PMAP Risk / Return Rank: 99
PMAP Sharpe Ratio Rank: 99
PMAP Sortino Ratio Rank: 99
PMAP Omega Ratio Rank: 99
PMAP Calmar Ratio Rank: 99
PMAP Martin Ratio Rank: 99

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.

DDFY vs. PMAP - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	DDFY	PMAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	3.15	-1.47

Drawdowns

DDFY vs. PMAP - Drawdown Comparison

The maximum DDFY drawdown since its inception was -1.05%, smaller than the maximum PMAP drawdown of -1.75%. Use the drawdown chart below to compare losses from any high point for DDFY and PMAP.

Drawdown Indicators

	DDFY	PMAP	Difference
Max Drawdown Largest peak-to-trough decline	-1.05%	-1.75%	+0.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.34%	—
Current Drawdown Current decline from peak	-1.05%	-0.20%	-0.85%
Average Drawdown Average peak-to-trough decline	-0.14%	-0.08%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.06%	—

Volatility

Volatility by Period

	DDFY	PMAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.17%	1.17%	+3.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.17%	2.33%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.17%	2.33%	+1.84%

DDFY vs. PMAP - Expense Ratio Comparison

DDFY has a 0.79% expense ratio, which is higher than PMAP's 0.50% expense ratio.

Dividends

DDFY vs. PMAP - Dividend Comparison

Neither DDFY nor PMAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFY and PMAP in my portfolio?

DDFY and PMAP have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFY or PMAP?

On fees, PMAP 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, DDFY or PMAP?

PMAP is cheaper with a 0.50% expense ratio, compared with 0.79% for DDFY.

Which ETF pays a higher dividend yield, DDFY or PMAP?

DDFY and PMAP have nearly identical dividend yields, around 0.00%.

What is the main difference between DDFY and PMAP?

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