DECT vs. PMDE

Last updated Jul 17, 2026

DECT (Allianzim U.S. Large Cap Buffer10 Dec ETF) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - DECT 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). DECT is actively managed, while PMDE is passively managed. Their correlation of 0.88 suggests significant overlap in exposure. DECT charges 0.74%/yr vs 0.50%/yr for PMDE.

Performance

DECT vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Large Cap Buffer10 Dec ETF (DECT) 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, DECT achieves a 7.71% return, which is significantly higher than PMDE's 3.18% return.

DECT

• 1D: -0.30%
• 1M: 0.53%
• 6M: 6.86%
• YTD: 7.71%
• 1Y: 17.55%
• 3Y*: 12.90%
• 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)

DECT vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
DECT Allianzim U.S. Large Cap Buffer10 Dec ETF	7.71%	0.60%
PMDE PGIM S&P 500 Max Buffer ETF - December	3.18%	0.44%

Correlation

The correlation between DECT and PMDE is 0.88, 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	0.88

Return for Risk

DECT vs. PMDE — Risk / Return Rank

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

DECT

DECT Risk / Return Rank: 78
DECT Sharpe Ratio Rank: 78
DECT Sortino Ratio Rank: 78
DECT Omega Ratio Rank: 81
DECT Calmar Ratio Rank: 72
DECT Martin Ratio Rank: 84

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.

DECT vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Large Cap Buffer10 Dec ETF (DECT) 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.

	DECT	PMDE	Difference
Sharpe ratio: Return per unit of total volatility	1.99	—	—
Sortino ratio: Return per unit of downside risk	2.82	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.88	—	—
Martin ratio: Return relative to average drawdown	13.42	—	—

Drawdowns

DECT vs. PMDE - Drawdown Comparison

The maximum DECT drawdown since its inception was -13.26%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for DECT and PMDE.

Drawdown Indicators

	DECT	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-13.26%	-1.59%	-11.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	—	—
Current Drawdown Current decline from peak	-0.30%	0.00%	-0.30%
Average Drawdown Average peak-to-trough decline	-1.40%	-0.24%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	—	—

Volatility

Volatility by Period

	DECT	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.86%	2.37%	+6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.17%	2.37%	+7.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.17%	2.37%	+7.80%

DECT vs. PMDE - Expense Ratio Comparison

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

Dividends

DECT vs. PMDE - Dividend Comparison

Neither DECT nor PMDE has paid dividends to shareholders.

Position	TTM	2025	2024
DECT Allianzim U.S. Large Cap Buffer10 Dec ETF	0.00%	0.00%	0.43%
PMDE PGIM S&P 500 Max Buffer ETF - December	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DECT and PMDE in my portfolio?

DECT and PMDE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DECT 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, DECT or PMDE?

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

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

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

What is the main difference between DECT and PMDE?

DECT 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 DECT and 0.50% for PMDE.