GDEC vs. PMDE

Last updated Jun 25, 2026

GDEC (FT Cboe Vest U.S. Equity Moderate Buffer ETF - December) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - GDEC is a Options Trading fund actively managed by FT Vest, while PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY). GDEC is actively managed, while PMDE is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. GDEC charges 0.85%/yr vs 0.50%/yr for PMDE.

Performance

GDEC vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Moderate Buffer ETF - December (GDEC) 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, GDEC achieves a 4.48% return, which is significantly higher than PMDE's 2.41% return.

GDEC

• 1D: -0.07%
• 1M: -0.07%
• YTD: 4.48%
• 6M: 4.07%
• 1Y: 13.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMDE

• 1D: -0.10%
• 1M: 0.04%
• YTD: 2.41%
• 6M: 2.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDEC vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
GDEC FT Cboe Vest U.S. Equity Moderate Buffer ETF - December	4.48%	1.18%
PMDE PGIM S&P 500 Max Buffer ETF - December	2.41%	0.44%

Correlation

The correlation between GDEC and PMDE is 0.87, 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	0.87

Return for Risk

GDEC vs. PMDE — Risk / Return Rank

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

GDEC

GDEC Risk / Return Rank: 81
GDEC Sharpe Ratio Rank: 82
GDEC Sortino Ratio Rank: 86
GDEC Omega Ratio Rank: 87
GDEC Calmar Ratio Rank: 66
GDEC 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.

GDEC vs. PMDE - Risk-Adjusted Trends Comparison

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

	GDEC	PMDE	Difference
Sharpe ratio: Return per unit of total volatility	2.30	—	—
Sortino ratio: Return per unit of downside risk	3.38	—	—
Omega ratio: Gain probability vs. loss probability	1.46	—	—
Calmar ratio: Return relative to maximum drawdown	2.86	—	—
Martin ratio: Return relative to average drawdown	14.84	—	—

Drawdowns

GDEC vs. PMDE - Drawdown Comparison

The maximum GDEC drawdown since its inception was -10.61%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for GDEC and PMDE.

Drawdown Indicators

	GDEC	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-10.61%	-1.59%	-9.02%
Max Drawdown (1Y) Largest decline over 1 year	-4.79%	—	—
Current Drawdown Current decline from peak	-0.81%	-0.31%	-0.50%
Average Drawdown Average peak-to-trough decline	-0.76%	-0.25%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	—	—

Volatility

Volatility by Period

	GDEC	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.98%	2.46%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.94%	2.46%	+5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.94%	2.46%	+5.48%

GDEC vs. PMDE - Expense Ratio Comparison

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

Dividends

GDEC vs. PMDE - Dividend Comparison

Neither GDEC nor PMDE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDEC and PMDE in my portfolio?

GDEC and PMDE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GDEC 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, GDEC or PMDE?

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

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

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

What is the main difference between GDEC and PMDE?

GDEC is categorized as Options Trading, while PMDE is Defined Outcome. They also come from different issuers: FT Vest and PGIM. Their fees differ too: 0.85% for GDEC and 0.50% for PMDE.