OCTU vs. PMSE

Last updated Jun 4, 2026

OCTU (AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF) and PMSE (PGIM S&P 500 Max Buffer ETF - September) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.86 suggests significant overlap in exposure. OCTU charges 0.74%/yr vs 0.50%/yr for PMSE.

Performance

OCTU vs. PMSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) 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, OCTU achieves a 7.96% return, which is significantly higher than PMSE's 2.85% return.

OCTU

• 1D: -0.43%
• 1M: 4.27%
• YTD: 7.96%
• 6M: 7.66%
• 1Y: 20.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMSE

• 1D: 0.00%
• 1M: 0.94%
• YTD: 2.85%
• 6M: 3.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTU vs. PMSE - Yearly Performance Comparison

	2026 (YTD)	2025
OCTU AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF	7.96%	5.85%
PMSE PGIM S&P 500 Max Buffer ETF - September	2.85%	2.23%

Correlation

The correlation between OCTU and PMSE is 0.86, 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 Sep 3, 2025	0.86

Return for Risk

OCTU vs. PMSE — Risk / Return Rank

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

OCTU

OCTU Risk / Return Rank: 72
OCTU Sharpe Ratio Rank: 73
OCTU Sortino Ratio Rank: 74
OCTU Omega Ratio Rank: 69
OCTU Calmar Ratio Rank: 70
OCTU Martin Ratio Rank: 76

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.

OCTU vs. PMSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) 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.

	OCTU	PMSE	Difference
Sharpe ratio: Return per unit of total volatility	2.33	—	—
Sortino ratio: Return per unit of downside risk	3.30	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	3.42	—	—
Martin ratio: Return relative to average drawdown	14.31	—	—
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

	OCTU	PMSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	3.05	-1.73

Drawdowns

OCTU vs. PMSE - Drawdown Comparison

The maximum OCTU drawdown since its inception was -11.24%, which is greater than PMSE's maximum drawdown of -1.44%. Use the drawdown chart below to compare losses from any high point for OCTU and PMSE.

Drawdown Indicators

	OCTU	PMSE	Difference
Max Drawdown Largest peak-to-trough decline	-11.24%	-1.44%	-9.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.92%	—	—
Current Drawdown Current decline from peak	-0.43%	-0.02%	-0.41%
Average Drawdown Average peak-to-trough decline	-1.68%	-0.17%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	—	—

Volatility

Volatility by Period

	OCTU	PMSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.69%	2.28%	+6.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	2.28%	+8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.39%	2.28%	+8.11%

OCTU vs. PMSE - Expense Ratio Comparison

OCTU has a 0.74% expense ratio, which is higher than PMSE's 0.50% expense ratio.

Dividends

OCTU vs. PMSE - Dividend Comparison

Neither OCTU nor PMSE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OCTU and PMSE in my portfolio?

OCTU and PMSE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OCTU or PMSE?

On fees, PMSE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OCTU or PMSE?

PMSE is cheaper with a 0.50% expense ratio, compared with 0.74% for OCTU.

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

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

What is the main difference between OCTU and PMSE?

They also come from different issuers: AllianzIM and PGIM. Their fees differ too: 0.74% for OCTU and 0.50% for PMSE.