JANP vs. PTRB

Last updated Jun 4, 2026

JANP (PGIM US Large-Cap Buffer 12 ETF - January) and PTRB (PGIM Total Return Bond ETF) are both exchange-traded funds - JANP is a Options Trading fund actively managed by PGIM, while PTRB is a Intermediate Core-Plus Bond fund actively managed by PGIM. Both are actively managed. Over the past year, JANP returned 17.69% vs 5.81% for PTRB. At a 0.22 correlation, their price movements are largely independent. JANP charges 0.50%/yr vs 0.49%/yr for PTRB.

Performance

JANP vs. PTRB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 12 ETF - January (JANP) and PGIM Total Return Bond ETF (PTRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANP achieves a 6.08% return, which is significantly higher than PTRB's 0.34% return.

JANP

• 1D: -0.20%
• 1M: 2.35%
• YTD: 6.08%
• 6M: 7.23%
• 1Y: 17.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PTRB

• 1D: -0.19%
• 1M: 0.28%
• YTD: 0.34%
• 6M: 0.41%
• 1Y: 5.81%
• 3Y*: 5.11%
• 5Y*: —
• 10Y*: —

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

JANP vs. PTRB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JANP PGIM US Large-Cap Buffer 12 ETF - January	6.08%	13.33%	15.74%
PTRB PGIM Total Return Bond ETF	0.34%	7.63%	3.09%

Correlation

The correlation between JANP and PTRB is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jan 3, 2024	0.22

Return for Risk

JANP vs. PTRB — Risk / Return Rank

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

JANP

JANP Risk / Return Rank: 81
JANP Sharpe Ratio Rank: 81
JANP Sortino Ratio Rank: 85
JANP Omega Ratio Rank: 88
JANP Calmar Ratio Rank: 68
JANP Martin Ratio Rank: 84

PTRB

PTRB Risk / Return Rank: 40
PTRB Sharpe Ratio Rank: 41
PTRB Sortino Ratio Rank: 42
PTRB Omega Ratio Rank: 39
PTRB Calmar Ratio Rank: 41
PTRB Martin Ratio Rank: 38

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.

JANP vs. PTRB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 12 ETF - January (JANP) and PGIM Total Return Bond ETF (PTRB). 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.

	JANP	PTRB	Difference
Sharpe ratio: Return per unit of total volatility	2.63	1.46	+1.17
Sortino ratio: Return per unit of downside risk	3.78	2.13	+1.65
Omega ratio: Gain probability vs. loss probability	1.55	1.26	+0.29
Calmar ratio: Return relative to maximum drawdown	3.34	2.01	+1.33
Martin ratio: Return relative to average drawdown	17.41	6.00	+11.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JANP vs. PTRB - Sharpe Ratio Comparison

The current JANP Sharpe Ratio is 2.63, which is higher than the PTRB Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of JANP and PTRB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JANP	PTRB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	1.46	+1.17
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	0.06	+1.57

Drawdowns

JANP vs. PTRB - Drawdown Comparison

The maximum JANP drawdown since its inception was -12.18%, smaller than the maximum PTRB drawdown of -19.17%. Use the drawdown chart below to compare losses from any high point for JANP and PTRB.

Drawdown Indicators

	JANP	PTRB	Difference
Max Drawdown Largest peak-to-trough decline	-12.18%	-19.17%	+6.99%
Max Drawdown (1Y) Largest decline over 1 year	-5.32%	-2.90%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.52%	—
Current Drawdown Current decline from peak	-0.20%	-1.61%	+1.41%
Average Drawdown Average peak-to-trough decline	-0.90%	-7.64%	+6.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	0.97%	+0.05%

Volatility

JANP vs. PTRB - Volatility Comparison

PGIM US Large-Cap Buffer 12 ETF - January (JANP) and PGIM Total Return Bond ETF (PTRB) have volatilities of 1.39% and 1.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANP	PTRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	1.37%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	5.52%	2.83%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	6.77%	4.01%	+2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.07%	6.25%	+2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.07%	6.25%	+2.82%

JANP vs. PTRB - Expense Ratio Comparison

JANP has a 0.50% expense ratio, which is higher than PTRB's 0.49% expense ratio.

Dividends

JANP vs. PTRB - Dividend Comparison

JANP has not paid dividends to shareholders, while PTRB's dividend yield for the trailing twelve months is around 4.74%.

Position	TTM	2025	2024	2023	2022	2021
JANP PGIM US Large-Cap Buffer 12 ETF - January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PTRB PGIM Total Return Bond ETF	4.74%	4.73%	5.10%	4.62%	4.07%	0.12%

Frequently Asked Questions

Can I hold both JANP and PTRB in my portfolio?

JANP and PTRB have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANP or PTRB?

JANP has higher volatility (1.39%) compared to PTRB (1.37%). In terms of maximum drawdown, JANP dropped -12.18% vs PTRB's -19.17%.

Which ETF is better, JANP or PTRB?

On 1-year performance, JANP leads with 17.69% vs 5.81% for PTRB. On fees, PTRB is cheaper at 0.49% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JANP or PTRB?

Over the 1-year period, JANP has performed better with a 17.69% return vs 5.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANP or PTRB?

PTRB is cheaper with a 0.49% expense ratio, compared with 0.50% for JANP.

Which ETF pays a higher dividend yield, JANP or PTRB?

PTRB has the higher dividend yield at 4.74%, compared with 0.00% for JANP.

What is the main difference between JANP and PTRB?

JANP is categorized as Options Trading, while PTRB is Intermediate Core-Plus Bond. Their fees differ too: 0.50% for JANP and 0.49% for PTRB.

Which has better risk-adjusted returns?

JANP currently has the higher Sharpe Ratio (2.63 vs 1.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.