FBUF vs. PMOC

Last updated Aug 4, 2026

FBUF (Fidelity Dynamic Buffered Equity ETF) and PMOC (PGIM S&P 500 Max Buffer ETF - October) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.83 means they have usually moved in the same direction. FBUF charges 0.48%/yr vs 0.50%/yr for PMOC.

Performance

FBUF vs. PMOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dynamic Buffered Equity ETF (FBUF) and PGIM S&P 500 Max Buffer ETF - October (PMOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBUF achieves a 7.94% return, which is significantly higher than PMOC's 3.78% return.

FBUF

• 1D: 0.65%
• 1M: 3.11%
• 6M: 5.93%
• YTD: 7.94%
• 1Y: 19.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.25%

PMOC

• 1D: 0.15%
• 1M: 0.69%
• 6M: 3.23%
• YTD: 3.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBUF Fidelity Dynamic Buffered Equity ETF	$202.49K	$184.01K	$259.55K
PMOC PGIM S&P 500 Max Buffer ETF - October	$7.02K	$3.47K	$5.60K

FBUF vs. PMOC - Yearly Performance Comparison

	2026 (YTD)	2025
FBUF Fidelity Dynamic Buffered Equity ETF	7.94%	3.35%
PMOC PGIM S&P 500 Max Buffer ETF - October	3.78%	0.93%

Correlation

The correlation between FBUF and PMOC is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.83

Return for Risk

FBUF vs. PMOC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FBUF

FBUF Risk / Return Rank: 88
FBUF Sharpe Ratio Rank: 89
FBUF Sortino Ratio Rank: 87
FBUF Omega Ratio Rank: 90
FBUF Calmar Ratio Rank: 85
FBUF Martin Ratio Rank: 89

PMOC

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FBUF vs. PMOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dynamic Buffered Equity ETF (FBUF) and PGIM S&P 500 Max Buffer ETF - October (PMOC). 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.

	FBUF	PMOC	Difference
Sharpe ratio: Return per unit of total volatility	2.26	—	—
Sortino ratio: Return per unit of downside risk	3.04	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	3.40	—	—
Martin ratio: Return relative to average drawdown	14.19	—	—

Drawdowns

FBUF vs. PMOC - Drawdown Comparison

The maximum FBUF drawdown since its inception was -11.09%, which is greater than PMOC's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for FBUF and PMOC.

Drawdown Indicators

	FBUF	PMOC	Difference
Max Drawdown Largest peak-to-trough decline	-11.09%	-1.50%	-9.59%
Max Drawdown (1Y) Largest decline over 1 year	-5.61%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.34%	-0.19%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	—	—

Volatility

Volatility by Period

	FBUF	PMOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.46%	2.30%	+6.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.66%	2.30%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.66%	2.30%	+7.36%

FBUF vs. PMOC - Expense Ratio Comparison

FBUF has a 0.48% expense ratio, which is lower than PMOC's 0.50% expense ratio.

Dividends

FBUF vs. PMOC - Dividend Comparison

FBUF's dividend yield for the trailing twelve months is around 0.57%, while PMOC has not paid dividends to shareholders.

Position	TTM	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	0.57%	0.64%	0.54%
PMOC PGIM S&P 500 Max Buffer ETF - October	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBUF and PMOC in my portfolio?

FBUF and PMOC have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBUF or PMOC?

On fees, FBUF is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBUF or PMOC?

FBUF is cheaper with a 0.48% expense ratio, compared with 0.50% for PMOC.

Which ETF pays a higher dividend yield, FBUF or PMOC?

FBUF has the higher dividend yield at 0.57%, compared with 0.00% for PMOC.

What is the main difference between FBUF and PMOC?

They also come from different issuers: Fidelity and PGIM. Their fees differ too: 0.48% for FBUF and 0.50% for PMOC.