KNGZ vs. PMJA

Last updated Aug 4, 2026

KNGZ (First Trust S&P 500 Diversified Dividend Aristocrats ETF) and PMJA (PGIM S&P 500 Max Buffer ETF - January) are both exchange-traded funds - KNGZ is a S&P 500 fund tracking the S&P 500 Sector-Neutral Dividend Aristocrats Index, while PMJA is a Defined Outcome fund actively managed by PGIM. KNGZ is passively managed, while PMJA is actively managed. Over the past year, KNGZ returned 27.70% vs 6.82% for PMJA. Their 0.64 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.50% expense ratio.

Performance

KNGZ vs. PMJA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ) and PGIM S&P 500 Max Buffer ETF - January (PMJA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KNGZ achieves a 16.58% return, which is significantly higher than PMJA's 3.20% return.

KNGZ

• 1D: 0.85%
• 1M: 2.20%
• 6M: 9.84%
• YTD: 16.58%
• 1Y: 27.70%
• 3Y*: 15.26%
• 5Y*: 9.76%
• 10Y*: —
• ALL TIME*: 11.31%

PMJA

• 1D: 0.18%
• 1M: 0.69%
• 6M: 2.64%
• YTD: 3.20%
• 1Y: 6.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF	$238.83K	$213.53K	$206.96K
PMJA PGIM S&P 500 Max Buffer ETF - January	$3.57K	$1.92K	$2.93K

KNGZ vs. PMJA - Yearly Performance Comparison

	2026 (YTD)	2025
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF	16.58%	14.27%
PMJA PGIM S&P 500 Max Buffer ETF - January	3.20%	6.76%

Correlation

The correlation between KNGZ and PMJA is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.64

The correlation between KNGZ and PMJA has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

Return for Risk

KNGZ vs. PMJA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KNGZ

KNGZ Risk / Return Rank: 79
KNGZ Sharpe Ratio Rank: 83
KNGZ Sortino Ratio Rank: 84
KNGZ Omega Ratio Rank: 80
KNGZ Calmar Ratio Rank: 78
KNGZ Martin Ratio Rank: 72

PMJA

PMJA Risk / Return Rank: 96
PMJA Sharpe Ratio Rank: 97
PMJA Sortino Ratio Rank: 97
PMJA Omega Ratio Rank: 97
PMJA Calmar Ratio Rank: 93
PMJA Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KNGZ vs. PMJA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ) and PGIM S&P 500 Max Buffer ETF - January (PMJA). 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.

	KNGZ	PMJA	Difference
Sharpe ratio: Return per unit of total volatility	2.04	3.40	-1.35
Sortino ratio: Return per unit of downside risk	2.92	5.43	-2.51
Omega ratio: Gain probability vs. loss probability	1.36	1.75	-0.40
Calmar ratio: Return relative to maximum drawdown	2.96	4.71	-1.76
Martin ratio: Return relative to average drawdown	9.45	23.28	-13.83

KNGZ vs. PMJA - Sharpe Ratio Comparison

The current KNGZ Sharpe Ratio is 2.04, which is lower than the PMJA Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of KNGZ and PMJA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KNGZ vs. PMJA - Drawdown Comparison

The maximum KNGZ drawdown since its inception was -37.44%, which is greater than PMJA's maximum drawdown of -2.98%. Use the drawdown chart below to compare losses from any high point for KNGZ and PMJA.

Drawdown Indicators

	KNGZ	PMJA	Difference
Max Drawdown Largest peak-to-trough decline	-37.44%	-2.98%	-34.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-1.45%	-7.96%
Max Drawdown (3Y) Largest decline over 3 years	-19.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.71%	—	—
Current Drawdown Current decline from peak	-1.10%	0.00%	-1.10%
Average Drawdown Average peak-to-trough decline	-4.83%	-0.32%	-4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	0.29%	+2.65%

Volatility

KNGZ vs. PMJA - Volatility Comparison

First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ) has a higher volatility of 3.74% compared to PGIM S&P 500 Max Buffer ETF - January (PMJA) at 0.50%. This indicates that KNGZ's price experiences larger fluctuations and is considered to be riskier than PMJA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KNGZ	PMJA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	0.50%	+3.24%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	1.55%	+8.44%
Volatility (1Y) Calculated over the trailing 1-year period	13.65%	2.02%	+11.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.13%	2.76%	+13.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.78%	2.76%	+16.02%

KNGZ vs. PMJA - Expense Ratio Comparison

Both KNGZ and PMJA have an expense ratio of 0.50%.

Dividends

KNGZ vs. PMJA - Dividend Comparison

KNGZ's dividend yield for the trailing twelve months is around 2.50%, while PMJA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF	2.50%	2.70%	2.55%	3.10%	2.52%	1.95%	2.44%	2.85%	4.09%	1.10%
PMJA PGIM S&P 500 Max Buffer ETF - January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KNGZ and PMJA in my portfolio?

KNGZ and PMJA have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNGZ or PMJA?

KNGZ has higher volatility (3.74%) compared to PMJA (0.50%). In terms of maximum drawdown, KNGZ dropped -37.44% vs PMJA's -2.98%.

Which ETF is better, KNGZ or PMJA?

On 1-year performance, KNGZ leads with 27.70% vs 6.82% for PMJA. Both ETFs have the same 0.50% expense ratio. On volatility, PMJA has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KNGZ or PMJA?

Over the 1-year period, KNGZ has performed better with a 27.70% return vs 6.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNGZ or PMJA?

KNGZ and PMJA have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, KNGZ or PMJA?

KNGZ has the higher dividend yield at 2.50%, compared with 0.00% for PMJA.

What is the main difference between KNGZ and PMJA?

KNGZ is categorized as S&P 500, while PMJA is Defined Outcome. They also come from different issuers: First Trust and PGIM.

Which has better risk-adjusted returns?

PMJA currently has the higher Sharpe Ratio (3.40 vs 2.04), 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.