FJUL vs. PMDE

Last updated Jun 24, 2026

FJUL (FT Cboe Vest U.S. Equity Buffer ETF - July) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - FJUL is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index July, while PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY). Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. FJUL charges 0.85%/yr vs 0.50%/yr for PMDE.

Performance

FJUL vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL) 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, FJUL achieves a 5.86% return, which is significantly higher than PMDE's 2.51% return.

FJUL

• 1D: -0.31%
• 1M: 0.51%
• YTD: 5.86%
• 6M: 5.62%
• 1Y: 17.51%
• 3Y*: 15.77%
• 5Y*: 11.37%
• 10Y*: —

PMDE

• 1D: -0.14%
• 1M: 0.14%
• YTD: 2.51%
• 6M: 2.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FJUL vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
FJUL FT Cboe Vest U.S. Equity Buffer ETF - July	5.86%	0.79%
PMDE PGIM S&P 500 Max Buffer ETF - December	2.51%	0.44%

Correlation

The correlation between FJUL and PMDE is 0.89, 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	0.89

Return for Risk

FJUL vs. PMDE — Risk / Return Rank

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

FJUL

FJUL Risk / Return Rank: 85
FJUL Sharpe Ratio Rank: 86
FJUL Sortino Ratio Rank: 89
FJUL Omega Ratio Rank: 89
FJUL Calmar Ratio Rank: 74
FJUL Martin Ratio Rank: 89

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.

FJUL vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL) 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.

	FJUL	PMDE	Difference
Sharpe ratio: Return per unit of total volatility	2.55	—	—
Sortino ratio: Return per unit of downside risk	3.71	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	3.45	—	—
Martin ratio: Return relative to average drawdown	18.14	—	—

Drawdowns

FJUL vs. PMDE - Drawdown Comparison

The maximum FJUL drawdown since its inception was -13.08%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for FJUL and PMDE.

Drawdown Indicators

	FJUL	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-1.59%	-11.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.08%	—	—
Current Drawdown Current decline from peak	-0.35%	-0.21%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.86%	-0.25%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	—	—

Volatility

Volatility by Period

	FJUL	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.93%	2.47%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	2.47%	+8.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.53%	2.47%	+8.06%

FJUL vs. PMDE - Expense Ratio Comparison

FJUL has a 0.85% expense ratio, which is higher than PMDE's 0.50% expense ratio.

Dividends

FJUL vs. PMDE - Dividend Comparison

Neither FJUL nor PMDE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FJUL and PMDE in my portfolio?

FJUL and PMDE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FJUL 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, FJUL or PMDE?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.85% for FJUL.

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

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

What is the main difference between FJUL and PMDE?

FJUL is categorized as Options Trading, while PMDE is Defined Outcome. FJUL tracks Cboe S&P 500 Buffer Protect Index July, while PMDE tracks SPDR S&P 500 ETF Trust (SPY). They also come from different issuers: FT Vest and PGIM. Their fees differ too: 0.85% for FJUL and 0.50% for PMDE.