PBMY vs. OCTB

Last updated Jun 24, 2026

PBMY (PGIM S&P 500 Buffer 20 ETF - May) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. PBMY charges 0.50%/yr vs 0.25%/yr for OCTB.

Performance

PBMY vs. OCTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Buffer 20 ETF - May (PBMY) and Aptus October Buffer ETF (OCTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBMY achieves a 3.19% return, which is significantly lower than OCTB's 5.52% return.

PBMY

• 1D: -0.41%
• 1M: -0.20%
• YTD: 3.19%
• 6M: 3.30%
• 1Y: 8.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTB

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

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

PBMY vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
PBMY PGIM S&P 500 Buffer 20 ETF - May	3.19%	1.91%
OCTB Aptus October Buffer ETF	5.52%	2.37%

Correlation

The correlation between PBMY and OCTB is 0.85, 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	0.85

Return for Risk

PBMY vs. OCTB — Risk / Return Rank

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

PBMY

PBMY Risk / Return Rank: 93
PBMY Sharpe Ratio Rank: 90
PBMY Sortino Ratio Rank: 93
PBMY Omega Ratio Rank: 94
PBMY Calmar Ratio Rank: 93
PBMY Martin Ratio Rank: 96

OCTB

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

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.

PBMY vs. OCTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Buffer 20 ETF - May (PBMY) and Aptus October Buffer ETF (OCTB). 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.

	PBMY	OCTB	Difference
Sharpe ratio: Return per unit of total volatility	2.72	—	—
Sortino ratio: Return per unit of downside risk	4.07	—	—
Omega ratio: Gain probability vs. loss probability	1.62	—	—
Calmar ratio: Return relative to maximum drawdown	6.04	—	—
Martin ratio: Return relative to average drawdown	34.42	—	—

Drawdowns

PBMY vs. OCTB - Drawdown Comparison

The maximum PBMY drawdown since its inception was -8.11%, which is greater than OCTB's maximum drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for PBMY and OCTB.

Drawdown Indicators

	PBMY	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-8.11%	-4.79%	-3.32%
Max Drawdown (1Y) Largest decline over 1 year	-1.47%	—	—
Current Drawdown Current decline from peak	-0.78%	-0.82%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.39%	-0.69%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	—	—

Volatility

Volatility by Period

	PBMY	OCTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.28%	7.26%	-3.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.16%	7.26%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.16%	7.26%	-0.10%

PBMY vs. OCTB - Expense Ratio Comparison

PBMY has a 0.50% expense ratio, which is higher than OCTB's 0.25% expense ratio.

Dividends

PBMY vs. OCTB - Dividend Comparison

PBMY's dividend yield for the trailing twelve months is around 0.07%, while OCTB has not paid dividends to shareholders.

Position	TTM	2025
OCTB Aptus October Buffer ETF	0.00%	0.00%
PBMY PGIM S&P 500 Buffer 20 ETF - May	0.07%	0.08%

Frequently Asked Questions

Can I hold both PBMY and OCTB in my portfolio?

PBMY and OCTB have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBMY or OCTB?

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, PBMY or OCTB?

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

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

PBMY has the higher dividend yield at 0.07%, compared with 0.00% for OCTB.

What is the main difference between PBMY and OCTB?

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