PBSE vs. JULB

Last updated Jun 5, 2026

PBSE (PGIM S&P 500 Buffer 20 ETF - September) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. Both are actively managed. With a 0.95 correlation, they move nearly in lockstep. PBSE charges 0.50%/yr vs 0.25%/yr for JULB.

Performance

PBSE vs. JULB - Performance Comparison

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

Returns By Period

In the year-to-date period, PBSE achieves a 4.41% return, which is significantly lower than JULB's 6.52% return.

PBSE

• 1D: 0.10%
• 1M: 1.30%
• YTD: 4.41%
• 6M: 5.07%
• 1Y: 12.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JULB

• 1D: 0.16%
• 1M: 2.16%
• YTD: 6.52%
• 6M: 7.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBSE vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
PBSE PGIM S&P 500 Buffer 20 ETF - September	4.41%	2.14%
JULB Aptus July Buffer ETF	6.52%	2.56%

Correlation

The correlation between PBSE and JULB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.95

Return for Risk

PBSE vs. JULB — Risk / Return Rank

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

PBSE

PBSE Risk / Return Rank: 89
PBSE Sharpe Ratio Rank: 88
PBSE Sortino Ratio Rank: 92
PBSE Omega Ratio Rank: 92
PBSE Calmar Ratio Rank: 81
PBSE Martin Ratio Rank: 92

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.

PBSE vs. JULB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Buffer 20 ETF - September (PBSE) and Aptus July Buffer ETF (JULB). 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.

	PBSE	JULB	Difference
Sharpe ratio: Return per unit of total volatility	2.88	—	—
Sortino ratio: Return per unit of downside risk	4.30	—	—
Omega ratio: Gain probability vs. loss probability	1.61	—	—
Calmar ratio: Return relative to maximum drawdown	4.13	—	—
Martin ratio: Return relative to average drawdown	22.03	—	—
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

	PBSE	JULB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	2.21	-0.63

Drawdowns

PBSE vs. JULB - Drawdown Comparison

The maximum PBSE drawdown since its inception was -8.35%, which is greater than JULB's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for PBSE and JULB.

Drawdown Indicators

	PBSE	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-8.35%	-5.24%	-3.11%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.63%	-0.87%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	—	—

Volatility

Volatility by Period

	PBSE	JULB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.52%	6.79%	-2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	6.79%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.66%	6.79%	-0.13%

PBSE vs. JULB - Expense Ratio Comparison

PBSE has a 0.50% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

PBSE vs. JULB - Dividend Comparison

Neither PBSE nor JULB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PBSE and JULB in my portfolio?

With a correlation of 0.95, PBSE and JULB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, PBSE or JULB?

On fees, JULB 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, PBSE or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.50% for PBSE.

Which ETF pays a higher dividend yield, PBSE or JULB?

PBSE and JULB have nearly identical dividend yields, around 0.00%.

What is the main difference between PBSE and JULB?

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