PBJA vs. DGT

Last updated Jun 3, 2026

PBJA (PGIM US Large-Cap Buffer 20 ETF - January) and DGT (State Street SPDR Global Dow ETF) are both exchange-traded funds - PBJA is a Options Trading fund actively managed by PGIM, while DGT is a Global Equities fund tracking the The Global Dow. PBJA is actively managed, while DGT is passively managed. Over the past year, PBJA returned 13.25% vs 31.75% for DGT. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.

Performance

PBJA vs. DGT - 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 State Street SPDR Global Dow ETF (DGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBJA achieves a 4.49% return, which is significantly lower than DGT's 13.38% return.

PBJA

• 1D: 0.03%
• 1M: 1.55%
• YTD: 4.49%
• 6M: 5.37%
• 1Y: 13.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DGT

• 1D: 0.50%
• 1M: 4.18%
• YTD: 13.38%
• 6M: 15.73%
• 1Y: 31.75%
• 3Y*: 23.15%
• 5Y*: 13.84%
• 10Y*: 14.16%

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

PBJA vs. DGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PBJA PGIM US Large-Cap Buffer 20 ETF - January	4.49%	10.33%	12.18%
DGT State Street SPDR Global Dow ETF	13.38%	30.04%	14.55%

Correlation

The correlation between PBJA and DGT is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 3, 2024	0.77

The correlation between PBJA and DGT has been stable across timeframes, ranging from 0.76 to 0.77 - a consistent structural relationship.

Return for Risk

PBJA vs. DGT — Risk / Return Rank

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

PBJA

PBJA Risk / Return Rank: 86
PBJA Sharpe Ratio Rank: 86
PBJA Sortino Ratio Rank: 90
PBJA Omega Ratio Rank: 92
PBJA Calmar Ratio Rank: 73
PBJA Martin Ratio Rank: 89

DGT

DGT Risk / Return Rank: 80
DGT Sharpe Ratio Rank: 81
DGT Sortino Ratio Rank: 81
DGT Omega Ratio Rank: 81
DGT Calmar Ratio Rank: 76
DGT Martin Ratio Rank: 79

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. DGT - 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 State Street SPDR Global Dow ETF (DGT). 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.

	PBJA	DGT	Difference
Sharpe ratio Return per unit of total volatility	2.88	2.67	+0.22
Sortino ratio Return per unit of downside risk	4.31	3.68	+0.63
Omega ratio Gain probability vs. loss probability	1.62	1.50	+0.13
Calmar ratio Return relative to maximum drawdown	3.75	3.87	-0.11
Martin ratio Return relative to average drawdown	20.44	15.72	+4.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBJA vs. DGT - Sharpe Ratio Comparison

The current PBJA Sharpe Ratio is 2.88, which is comparable to the DGT Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of PBJA and DGT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PBJA	DGT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	2.67	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	0.30	+1.48

Drawdowns

PBJA vs. DGT - Drawdown Comparison

The maximum PBJA drawdown since its inception was -8.50%, smaller than the maximum DGT drawdown of -55.36%. Use the drawdown chart below to compare losses from any high point for PBJA and DGT.

Drawdown Indicators

	PBJA	DGT	Difference
Max Drawdown Largest peak-to-trough decline	-8.50%	-55.36%	+46.86%
Max Drawdown (1Y) Largest decline over 1 year	-3.58%	-8.38%	+4.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.67%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.40%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.55%	-13.83%	+13.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	2.06%	-1.40%

Volatility

PBJA vs. DGT - Volatility Comparison

The current volatility for PGIM US Large-Cap Buffer 20 ETF - January (PBJA) is 0.64%, while State Street SPDR Global Dow ETF (DGT) has a volatility of 4.18%. This indicates that PBJA experiences smaller price fluctuations and is considered to be less risky than DGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBJA	DGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	4.18%	-3.54%
Volatility (6M) Calculated over the trailing 6-month period	3.70%	9.53%	-5.83%
Volatility (1Y) Calculated over the trailing 1-year period	4.61%	11.96%	-7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.38%	15.16%	-8.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.38%	16.95%	-10.57%

PBJA vs. DGT - Expense Ratio Comparison

Both PBJA and DGT have an expense ratio of 0.50%.

Dividends

PBJA vs. DGT - Dividend Comparison

PBJA has not paid dividends to shareholders, while DGT's dividend yield for the trailing twelve months is around 2.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGT State Street SPDR Global Dow ETF	2.51%	2.78%	2.83%	2.53%	3.15%	2.66%	1.97%	2.76%	2.50%	1.93%	2.31%	2.37%
PBJA PGIM US Large-Cap Buffer 20 ETF - January	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 PBJA and DGT in my portfolio?

PBJA and DGT have a correlation of 0.76, 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 DGT?

DGT has higher volatility (4.18%) compared to PBJA (0.64%). In terms of maximum drawdown, PBJA dropped -8.50% vs DGT's -55.36%.

Which ETF is better, PBJA or DGT?

On 1-year performance, DGT leads with 31.75% vs 13.25% for PBJA. Both ETFs have the same 0.50% expense ratio. On volatility, PBJA has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBJA or DGT?

Over the 1-year period, DGT has performed better with a 31.75% return vs 13.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBJA or DGT?

PBJA and DGT have the same expense ratio: 0.50% per year.

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

DGT has the higher dividend yield at 2.51%, compared with 0.00% for PBJA.

What is the main difference between PBJA and DGT?

PBJA is categorized as Options Trading, while DGT is Global Equities. They also come from different issuers: PGIM and State Street.

Which has better risk-adjusted returns?

PBJA currently has the higher Sharpe Ratio (2.88 vs 2.67), 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.