JULP vs. PMJL

Last updated Jun 4, 2026

JULP (PGIM S&P 500 Buffer 12 ETF - July) and PMJL (PGIM S&P 500 Max Buffer ETF - July) are both Defined Outcome funds from PGIM. Both are actively managed. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

JULP vs. PMJL - 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 PGIM S&P 500 Max Buffer ETF - July (PMJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULP achieves a 5.33% return, which is significantly higher than PMJL's 2.63% return.

JULP

• 1D: -0.02%
• 1M: 1.47%
• YTD: 5.33%
• 6M: 6.10%
• 1Y: 17.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMJL

• 1D: -0.02%
• 1M: 0.61%
• YTD: 2.63%
• 6M: 3.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JULP vs. PMJL - Yearly Performance Comparison

	2026 (YTD)	2025
JULP PGIM S&P 500 Buffer 12 ETF - July	5.33%	6.91%
PMJL PGIM S&P 500 Max Buffer ETF - July	2.63%	3.39%

Correlation

The correlation between JULP and PMJL 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 Jul 2, 2025	0.87

Return for Risk

JULP vs. PMJL — Risk / Return Rank

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

JULP

JULP Risk / Return Rank: 84
JULP Sharpe Ratio Rank: 81
JULP Sortino Ratio Rank: 86
JULP Omega Ratio Rank: 87
JULP Calmar Ratio Rank: 77
JULP Martin Ratio Rank: 90

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. PMJL - 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 PGIM S&P 500 Max Buffer ETF - July (PMJL). 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.

	JULP	PMJL	Difference
Sharpe ratio: Return per unit of total volatility	2.59	—	—
Sortino ratio: Return per unit of downside risk	3.81	—	—
Omega ratio: Gain probability vs. loss probability	1.54	—	—
Calmar ratio: Return relative to maximum drawdown	3.84	—	—
Martin ratio: Return relative to average drawdown	20.97	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	JULP	PMJL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	3.23	-1.85

Drawdowns

JULP vs. PMJL - Drawdown Comparison

The maximum JULP drawdown since its inception was -12.36%, which is greater than PMJL's maximum drawdown of -1.49%. Use the drawdown chart below to compare losses from any high point for JULP and PMJL.

Drawdown Indicators

	JULP	PMJL	Difference
Max Drawdown Largest peak-to-trough decline	-12.36%	-1.49%	-10.87%
Max Drawdown (1Y) Largest decline over 1 year	-4.47%	—	—
Current Drawdown Current decline from peak	-0.02%	-0.02%	0.00%
Average Drawdown Average peak-to-trough decline	-1.09%	-0.12%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	—	—

Volatility

Volatility by Period

	JULP	PMJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.65%	2.06%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.77%	2.06%	+7.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.77%	2.06%	+7.71%

JULP vs. PMJL - Expense Ratio Comparison

Both JULP and PMJL have an expense ratio of 0.50%.

Dividends

JULP vs. PMJL - Dividend Comparison

Neither JULP nor PMJL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JULP and PMJL in my portfolio?

JULP and PMJL 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, JULP or PMJL?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JULP or PMJL?

JULP and PMJL have the same expense ratio: 0.50% per year.

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

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