OCTB vs. PMSE

Last updated Jun 24, 2026

OCTB (Aptus October Buffer ETF) and PMSE (PGIM S&P 500 Max Buffer ETF - September) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. OCTB charges 0.25%/yr vs 0.50%/yr for PMSE.

Performance

OCTB vs. PMSE - Performance Comparison

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

Returns By Period

In the year-to-date period, OCTB achieves a 5.52% return, which is significantly higher than PMSE's 2.81% return.

OCTB

• 1D: -0.56%
• 1M: 0.00%
• YTD: 5.52%
• 6M: 5.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMSE

• 1D: -0.15%
• 1M: 0.19%
• YTD: 2.81%
• 6M: 2.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTB vs. PMSE - Yearly Performance Comparison

	2026 (YTD)	2025
OCTB Aptus October Buffer ETF	5.52%	2.37%
PMSE PGIM S&P 500 Max Buffer ETF - September	2.81%	1.18%

Correlation

The correlation between OCTB and PMSE is 0.89, 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	0.89

Return for Risk

OCTB vs. PMSE - Risk-Adjusted Trends Comparison

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

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

Drawdowns

OCTB vs. PMSE - Drawdown Comparison

The maximum OCTB drawdown since its inception was -4.79%, which is greater than PMSE's maximum drawdown of -1.44%. Use the drawdown chart below to compare losses from any high point for OCTB and PMSE.

Drawdown Indicators

	OCTB	PMSE	Difference
Max Drawdown Largest peak-to-trough decline	-4.79%	-1.44%	-3.35%
Current Drawdown Current decline from peak	-0.82%	-0.15%	-0.67%
Average Drawdown Average peak-to-trough decline	-0.69%	-0.17%	-0.52%

Volatility

Volatility by Period

	OCTB	PMSE	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.26%	2.28%	+4.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.26%	2.28%	+4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.26%	2.28%	+4.98%

OCTB vs. PMSE - Expense Ratio Comparison

OCTB has a 0.25% expense ratio, which is lower than PMSE's 0.50% expense ratio.

Dividends

OCTB vs. PMSE - Dividend Comparison

Neither OCTB nor PMSE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OCTB and PMSE in my portfolio?

OCTB and PMSE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OCTB or PMSE?

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, OCTB or PMSE?

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

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

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

What is the main difference between OCTB and PMSE?

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