PBJA vs. BAMU

Last updated Jun 20, 2026

PBJA (PGIM US Large-Cap Buffer 20 ETF - January) and BAMU (Brookstone Ultra-Short Bond ETF) are both exchange-traded funds - PBJA is a Options Trading fund actively managed by PGIM, while BAMU is a Ultrashort Bond fund actively managed by Brookstone. Both are actively managed. Over the past year, PBJA returned 12.89% vs 2.89% for BAMU. At a correlation of -0.00, they often move in opposite directions. PBJA charges 0.50%/yr vs 1.09%/yr for BAMU.

Performance

PBJA vs. BAMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 20 ETF - January (PBJA) and Brookstone Ultra-Short Bond ETF (BAMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBJA achieves a 4.44% return, which is significantly higher than BAMU's 1.16% return.

PBJA

• 1D: 0.39%
• 1M: 0.60%
• YTD: 4.44%
• 6M: 4.72%
• 1Y: 12.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAMU

• 1D: 0.00%
• 1M: 0.18%
• YTD: 1.16%
• 6M: 1.27%
• 1Y: 2.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBJA vs. BAMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PBJA PGIM US Large-Cap Buffer 20 ETF - January	4.44%	10.33%	12.05%
BAMU Brookstone Ultra-Short Bond ETF	1.16%	3.21%	4.14%

Correlation

The correlation between PBJA and BAMU is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Jan 2, 2024	-0.00

The correlation between PBJA and BAMU shifts across timeframes, from -0.14 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PBJA vs. BAMU — Risk / Return Rank

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

PBJA

PBJA Risk / Return Rank: 87
PBJA Sharpe Ratio Rank: 88
PBJA Sortino Ratio Rank: 91
PBJA Omega Ratio Rank: 92
PBJA Calmar Ratio Rank: 74
PBJA Martin Ratio Rank: 90

BAMU

BAMU Risk / Return Rank: 98
BAMU Sharpe Ratio Rank: 98
BAMU Sortino Ratio Rank: 98
BAMU Omega Ratio Rank: 98
BAMU Calmar Ratio Rank: 99
BAMU Martin Ratio Rank: 99

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.

PBJA vs. BAMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 20 ETF - January (PBJA) and Brookstone Ultra-Short Bond ETF (BAMU). 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.

	PBJA	BAMU	Difference
Sharpe ratio: Return per unit of total volatility	2.75	5.01	-2.26
Sortino ratio: Return per unit of downside risk	4.11	8.84	-4.72
Omega ratio: Gain probability vs. loss probability	1.59	2.43	-0.84
Calmar ratio: Return relative to maximum drawdown	3.58	24.72	-21.14
Martin ratio: Return relative to average drawdown	19.25	97.89	-78.64

PBJA vs. BAMU - Sharpe Ratio Comparison

The current PBJA Sharpe Ratio is 2.75, which is lower than the BAMU Sharpe Ratio of 5.01. The chart below compares the historical Sharpe Ratios of PBJA and BAMU, 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

PBJA vs. BAMU - Drawdown Comparison

The maximum PBJA drawdown since its inception was -8.50%, which is greater than BAMU's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for PBJA and BAMU.

Drawdown Indicators

	PBJA	BAMU	Difference
Max Drawdown Largest peak-to-trough decline	-8.50%	-0.36%	-8.14%
Max Drawdown (1Y) Largest decline over 1 year	-3.58%	-0.12%	-3.46%
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.55%	-0.02%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.03%	+0.64%

Volatility

PBJA vs. BAMU - Volatility Comparison

PGIM US Large-Cap Buffer 20 ETF - January (PBJA) has a higher volatility of 1.34% compared to Brookstone Ultra-Short Bond ETF (BAMU) at 0.09%. This indicates that PBJA's price experiences larger fluctuations and is considered to be riskier than BAMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBJA	BAMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	0.09%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	3.91%	0.40%	+3.51%
Volatility (1Y) Calculated over the trailing 1-year period	4.67%	0.58%	+4.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.37%	0.87%	+5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.37%	0.87%	+5.50%

PBJA vs. BAMU - Expense Ratio Comparison

PBJA has a 0.50% expense ratio, which is lower than BAMU's 1.09% expense ratio.

Dividends

PBJA vs. BAMU - Dividend Comparison

PBJA has not paid dividends to shareholders, while BAMU's dividend yield for the trailing twelve months is around 3.05%.

Position	TTM	2025	2024	2023
BAMU Brookstone Ultra-Short Bond ETF	3.05%	3.20%	3.97%	0.84%
PBJA PGIM US Large-Cap Buffer 20 ETF - January	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBJA and BAMU in my portfolio?

PBJA and BAMU have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBJA or BAMU?

PBJA has higher volatility (1.34%) compared to BAMU (0.09%). In terms of maximum drawdown, PBJA dropped -8.50% vs BAMU's -0.36%.

Which ETF is better, PBJA or BAMU?

On 1-year performance, PBJA leads with 12.89% vs 2.89% for BAMU. On fees, PBJA is cheaper at 0.50% per year. On volatility, BAMU has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBJA or BAMU?

Over the 1-year period, PBJA has performed better with a 12.89% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBJA or BAMU?

PBJA is cheaper with a 0.50% expense ratio, compared with 1.09% for BAMU.

Which ETF pays a higher dividend yield, PBJA or BAMU?

BAMU has the higher dividend yield at 3.05%, compared with 0.00% for PBJA.

What is the main difference between PBJA and BAMU?

PBJA is categorized as Options Trading, while BAMU is Ultrashort Bond. They also come from different issuers: PGIM and Brookstone. Their fees differ too: 0.50% for PBJA and 1.09% for BAMU.

Which has better risk-adjusted returns?

BAMU currently has the higher Sharpe Ratio (5.01 vs 2.75), 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.