PJFM vs. CTEF

Last updated Jun 4, 2026

PJFM (PGIM Jennison Focused Mid-Cap ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. Both are actively managed. A 0.72 correlation means they provide meaningful diversification when combined. PJFM charges 0.49%/yr vs 0.45%/yr for CTEF.

Performance

PJFM vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Mid-Cap ETF (PJFM) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJFM achieves a 9.13% return, which is significantly lower than CTEF's 29.35% return.

PJFM

• 1D: -0.20%
• 1M: 1.15%
• YTD: 9.13%
• 6M: 9.53%
• 1Y: 16.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTEF

• 1D: -0.41%
• 1M: 10.65%
• YTD: 29.35%
• 6M: 31.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PJFM vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
PJFM PGIM Jennison Focused Mid-Cap ETF	9.13%	9.35%
CTEF Castellan Targeted Equity ETF	29.35%	33.22%

Correlation

The correlation between PJFM and CTEF is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025	0.72

Return for Risk

PJFM vs. CTEF — Risk / Return Rank

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

PJFM

PJFM Risk / Return Rank: 33
PJFM Sharpe Ratio Rank: 31
PJFM Sortino Ratio Rank: 31
PJFM Omega Ratio Rank: 30
PJFM Calmar Ratio Rank: 32
PJFM Martin Ratio Rank: 39

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.

PJFM vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Mid-Cap ETF (PJFM) and Castellan Targeted Equity ETF (CTEF). 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.

	PJFM	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	1.09	—	—
Sortino ratio: Return per unit of downside risk	1.65	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.57	—	—
Martin ratio: Return relative to average drawdown	5.97	—	—
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

	PJFM	CTEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	3.54	-2.79

Drawdowns

PJFM vs. CTEF - Drawdown Comparison

The maximum PJFM drawdown since its inception was -22.84%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for PJFM and CTEF.

Drawdown Indicators

	PJFM	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-22.84%	-15.00%	-7.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	—	—
Current Drawdown Current decline from peak	-1.41%	-0.41%	-1.00%
Average Drawdown Average peak-to-trough decline	-3.75%	-1.80%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	—	—

Volatility

Volatility by Period

	PJFM	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	21.81%	-6.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	21.81%	-4.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	21.81%	-4.12%

PJFM vs. CTEF - Expense Ratio Comparison

PJFM has a 0.49% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

PJFM vs. CTEF - Dividend Comparison

PJFM's dividend yield for the trailing twelve months is around 0.57%, more than CTEF's 0.06% yield.

Position	TTM	2025	2024
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%
PJFM PGIM Jennison Focused Mid-Cap ETF	0.57%	0.62%	0.83%

Frequently Asked Questions

Can I hold both PJFM and CTEF in my portfolio?

PJFM and CTEF have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PJFM or CTEF?

On fees, CTEF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PJFM or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.49% for PJFM.

Which ETF pays a higher dividend yield, PJFM or CTEF?

PJFM has the higher dividend yield at 0.57%, compared with 0.06% for CTEF.

What is the main difference between PJFM and CTEF?

They also come from different issuers: PGIM and Castellan. Their fees differ too: 0.49% for PJFM and 0.45% for CTEF.