JULP vs. OCTB

Last updated Jul 14, 2026

JULP (PGIM S&P 500 Buffer 12 ETF - July) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. JULP charges 0.50%/yr vs 0.25%/yr for OCTB.

Performance

JULP vs. OCTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Buffer 12 ETF - July (JULP) and Aptus October Buffer ETF (OCTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULP achieves a 6.12% return, which is significantly lower than OCTB's 6.81% return.

JULP

• 1D: -0.36%
• 1M: 0.67%
• 6M: 5.23%
• YTD: 6.12%
• 1Y: 12.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTB

• 1D: -0.40%
• 1M: 1.18%
• 6M: 5.77%
• YTD: 6.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JULP vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
JULP PGIM S&P 500 Buffer 12 ETF - July	6.12%	2.49%
OCTB Aptus October Buffer ETF	6.81%	2.37%

Correlation

The correlation between JULP and OCTB is 0.91, 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 14, 2025	0.91

Return for Risk

JULP vs. OCTB — Risk / Return Rank

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

JULP

JULP Risk / Return Rank: 80
JULP Sharpe Ratio Rank: 76
JULP Sortino Ratio Rank: 78
JULP Omega Ratio Rank: 86
JULP Calmar Ratio Rank: 72
JULP Martin Ratio Rank: 90

OCTB

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.

JULP vs. OCTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Buffer 12 ETF - July (JULP) and Aptus October Buffer ETF (OCTB). 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.

	JULP	OCTB	Difference
Sharpe ratio: Return per unit of total volatility	1.92	—	—
Sortino ratio: Return per unit of downside risk	2.78	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	2.89	—	—
Martin ratio: Return relative to average drawdown	15.81	—	—

Drawdowns

JULP vs. OCTB - Drawdown Comparison

The maximum JULP drawdown since its inception was -12.36%, which is greater than OCTB's maximum drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for JULP and OCTB.

Drawdown Indicators

	JULP	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-12.36%	-4.79%	-7.57%
Max Drawdown (1Y) Largest decline over 1 year	-4.47%	—	—
Current Drawdown Current decline from peak	-0.36%	-0.40%	+0.04%
Average Drawdown Average peak-to-trough decline	-1.04%	-0.67%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	—	—

Volatility

Volatility by Period

	JULP	OCTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.76%	7.18%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	7.18%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.76%	7.18%	+2.58%

JULP vs. OCTB - Expense Ratio Comparison

JULP has a 0.50% expense ratio, which is higher than OCTB's 0.25% expense ratio.

Dividends

JULP vs. OCTB - Dividend Comparison

Neither JULP nor OCTB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JULP and OCTB in my portfolio?

With a correlation of 0.91, JULP and OCTB 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, JULP or OCTB?

On fees, OCTB 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, JULP or OCTB?

OCTB is cheaper with a 0.25% expense ratio, compared with 0.50% for JULP.

Which ETF pays a higher dividend yield, JULP or OCTB?

JULP and OCTB have nearly identical dividend yields, around 0.00%.

What is the main difference between JULP and OCTB?

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