MAYP vs. AGZD

Last updated Jun 24, 2026

MAYP (PGIM S&P 500 Buffer 12 ETF - May) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both exchange-traded funds - MAYP is a Defined Outcome fund actively managed by PGIM, while AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. MAYP is actively managed, while AGZD is passively managed. Over the past year, MAYP returned 11.50% vs 5.52% for AGZD. At a 0.06 correlation, their price movements are largely independent. MAYP charges 0.50%/yr vs 0.23%/yr for AGZD.

Performance

MAYP vs. AGZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Buffer 12 ETF - May (MAYP) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAYP achieves a 4.11% return, which is significantly higher than AGZD's 2.29% return.

MAYP

• 1D: -0.51%
• 1M: 0.23%
• YTD: 4.11%
• 6M: 4.16%
• 1Y: 11.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGZD

• 1D: -0.07%
• 1M: 0.11%
• YTD: 2.29%
• 6M: 2.30%
• 1Y: 5.52%
• 3Y*: 5.79%
• 5Y*: 4.33%
• 10Y*: 3.26%

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

MAYP vs. AGZD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAYP PGIM S&P 500 Buffer 12 ETF - May	4.11%	10.99%	11.62%
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	2.29%	4.35%	4.34%

Correlation

The correlation between MAYP and AGZD is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since May 1, 2024	0.06

Return for Risk

MAYP vs. AGZD — Risk / Return Rank

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

MAYP

MAYP Risk / Return Rank: 89
MAYP Sharpe Ratio Rank: 82
MAYP Sortino Ratio Rank: 86
MAYP Omega Ratio Rank: 91
MAYP Calmar Ratio Rank: 91
MAYP Martin Ratio Rank: 95

AGZD

AGZD Risk / Return Rank: 77
AGZD Sharpe Ratio Rank: 62
AGZD Sortino Ratio Rank: 67
AGZD Omega Ratio Rank: 67
AGZD Calmar Ratio Rank: 95
AGZD Martin Ratio Rank: 93

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.

MAYP vs. AGZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Buffer 12 ETF - May (MAYP) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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.

	MAYP	AGZD	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.96	+0.42
Sortino ratio: Return per unit of downside risk	3.49	2.90	+0.59
Omega ratio: Gain probability vs. loss probability	1.53	1.38	+0.15
Calmar ratio: Return relative to maximum drawdown	5.43	7.57	-2.14
Martin ratio: Return relative to average drawdown	26.60	22.52	+4.08

MAYP vs. AGZD - Sharpe Ratio Comparison

The current MAYP Sharpe Ratio is 2.37, which is comparable to the AGZD Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of MAYP and AGZD, 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

MAYP vs. AGZD - Drawdown Comparison

The maximum MAYP drawdown since its inception was -11.06%, which is greater than AGZD's maximum drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for MAYP and AGZD.

Drawdown Indicators

	MAYP	AGZD	Difference
Max Drawdown Largest peak-to-trough decline	-11.06%	-8.46%	-2.60%
Max Drawdown (1Y) Largest decline over 1 year	-2.13%	-0.73%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-8.46%	—
Current Drawdown Current decline from peak	-1.15%	-0.56%	-0.59%
Average Drawdown Average peak-to-trough decline	-0.66%	-0.77%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.25%	+0.18%

Volatility

MAYP vs. AGZD - Volatility Comparison

PGIM S&P 500 Buffer 12 ETF - May (MAYP) has a higher volatility of 2.53% compared to WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) at 1.15%. This indicates that MAYP's price experiences larger fluctuations and is considered to be riskier than AGZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAYP	AGZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	1.15%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	4.19%	2.08%	+2.11%
Volatility (1Y) Calculated over the trailing 1-year period	4.89%	2.84%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.26%	3.60%	+5.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.26%	3.72%	+5.54%

MAYP vs. AGZD - Expense Ratio Comparison

MAYP has a 0.50% expense ratio, which is higher than AGZD's 0.23% expense ratio.

Dividends

MAYP vs. AGZD - Dividend Comparison

MAYP has not paid dividends to shareholders, while AGZD's dividend yield for the trailing twelve months is around 3.99%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	3.99%	4.12%	3.96%	6.07%	8.61%	1.66%	2.28%	2.83%	2.62%	2.31%	1.81%	1.66%
MAYP PGIM S&P 500 Buffer 12 ETF - May	0.00%	0.00%	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 MAYP and AGZD in my portfolio?

MAYP and AGZD have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAYP or AGZD?

MAYP has higher volatility (2.53%) compared to AGZD (1.15%). In terms of maximum drawdown, MAYP dropped -11.06% vs AGZD's -8.46%.

Which ETF is better, MAYP or AGZD?

On 1-year performance, MAYP leads with 11.50% vs 5.52% for AGZD. On fees, AGZD is cheaper at 0.23% per year. On volatility, AGZD has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAYP or AGZD?

Over the 1-year period, MAYP has performed better with a 11.50% return vs 5.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAYP or AGZD?

AGZD is cheaper with a 0.23% expense ratio, compared with 0.50% for MAYP.

Which ETF pays a higher dividend yield, MAYP or AGZD?

AGZD has the higher dividend yield at 3.99%, compared with 0.00% for MAYP.

What is the main difference between MAYP and AGZD?

MAYP is categorized as Defined Outcome, while AGZD is Nontraditional Bonds. They also come from different issuers: PGIM and WisdomTree. Their fees differ too: 0.50% for MAYP and 0.23% for AGZD.

Which has better risk-adjusted returns?

MAYP currently has the higher Sharpe Ratio (2.37 vs 1.96), 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.