JULB vs. PMAU

Last updated Jun 4, 2026

JULB (Aptus July Buffer ETF) and PMAU (PGIM S&P 500 Max Buffer ETF - August) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. JULB charges 0.25%/yr vs 0.50%/yr for PMAU.

Performance

JULB vs. PMAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus July Buffer ETF (JULB) and PGIM S&P 500 Max Buffer ETF - August (PMAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULB achieves a 6.35% return, which is significantly higher than PMAU's 2.95% return.

JULB

• 1D: -0.07%
• 1M: 2.40%
• YTD: 6.35%
• 6M: 6.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMAU

• 1D: -0.02%
• 1M: 0.89%
• YTD: 2.95%
• 6M: 3.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JULB vs. PMAU - Yearly Performance Comparison

	2026 (YTD)	2025
JULB Aptus July Buffer ETF	6.35%	2.56%
PMAU PGIM S&P 500 Max Buffer ETF - August	2.95%	1.28%

Correlation

The correlation between JULB and PMAU is 0.93, 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 Oct 15, 2025	0.93

Return for Risk

JULB vs. PMAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus July Buffer ETF (JULB) and PGIM S&P 500 Max Buffer ETF - August (PMAU). 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.

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

Sharpe Ratios by Period

	JULB	PMAU	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	2.90	-0.73

Drawdowns

JULB vs. PMAU - Drawdown Comparison

The maximum JULB drawdown since its inception was -5.24%, which is greater than PMAU's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for JULB and PMAU.

Drawdown Indicators

	JULB	PMAU	Difference
Max Drawdown Largest peak-to-trough decline	-5.24%	-1.79%	-3.45%
Current Drawdown Current decline from peak	-0.07%	-0.02%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.87%	-0.17%	-0.70%

Volatility

Volatility by Period

	JULB	PMAU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.81%	2.51%	+4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	2.51%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	2.51%	+4.30%

JULB vs. PMAU - Expense Ratio Comparison

JULB has a 0.25% expense ratio, which is lower than PMAU's 0.50% expense ratio.

Dividends

JULB vs. PMAU - Dividend Comparison

Neither JULB nor PMAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JULB and PMAU in my portfolio?

With a correlation of 0.93, JULB and PMAU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, JULB or PMAU?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JULB or PMAU?

JULB is cheaper with a 0.25% expense ratio, compared with 0.50% for PMAU.

Which ETF pays a higher dividend yield, JULB or PMAU?

JULB and PMAU have nearly identical dividend yields, around 0.00%.

What is the main difference between JULB and PMAU?

They also come from different issuers: Aptus Capital Advisors and PGIM. Their fees differ too: 0.25% for JULB and 0.50% for PMAU.