PJFV vs. PBQQ

Last updated Jun 4, 2026

PJFV (PGIM Jennison Focused Value ETF) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both exchange-traded funds - PJFV is a Large Cap Value Equities fund actively managed by PGIM, while PBQQ is a Defined Outcome fund actively managed by PGIM. Both are actively managed. Over the past year, PJFV returned 35.20% vs 20.98% for PBQQ. A 0.74 correlation means they provide meaningful diversification when combined. PJFV charges 0.75%/yr vs 0.50%/yr for PBQQ.

Performance

PJFV vs. PBQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Value ETF (PJFV) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJFV achieves a 15.15% return, which is significantly higher than PBQQ's 9.10% return.

PJFV

• 1D: 0.17%
• 1M: 4.27%
• YTD: 15.15%
• 6M: 15.46%
• 1Y: 35.20%
• 3Y*: 24.56%
• 5Y*: —
• 10Y*: —

PBQQ

• 1D: -0.21%
• 1M: 2.58%
• YTD: 9.10%
• 6M: 9.79%
• 1Y: 20.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PJFV vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
PJFV PGIM Jennison Focused Value ETF	15.15%	18.64%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	9.10%	15.44%

Correlation

The correlation between PJFV and PBQQ is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.74

The correlation between PJFV and PBQQ has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.

Return for Risk

PJFV vs. PBQQ — Risk / Return Rank

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

PJFV

PJFV Risk / Return Rank: 87
PJFV Sharpe Ratio Rank: 87
PJFV Sortino Ratio Rank: 87
PJFV Omega Ratio Rank: 85
PJFV Calmar Ratio Rank: 86
PJFV Martin Ratio Rank: 90

PBQQ

PBQQ Risk / Return Rank: 89
PBQQ Sharpe Ratio Rank: 88
PBQQ Sortino Ratio Rank: 91
PBQQ Omega Ratio Rank: 91
PBQQ Calmar Ratio Rank: 83
PBQQ Martin Ratio Rank: 91

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.

PJFV vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Value ETF (PJFV) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). 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.

	PJFV	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.88	2.94	-0.06
Sortino ratio: Return per unit of downside risk	3.96	4.33	-0.37
Omega ratio: Gain probability vs. loss probability	1.52	1.59	-0.07
Calmar ratio: Return relative to maximum drawdown	4.83	4.47	+0.36
Martin ratio: Return relative to average drawdown	20.72	21.36	-0.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PJFV vs. PBQQ - Sharpe Ratio Comparison

The current PJFV Sharpe Ratio is 2.88, which is comparable to the PBQQ Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of PJFV and PBQQ, 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

	PJFV	PBQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	2.94	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	1.50	+0.03

Drawdowns

PJFV vs. PBQQ - Drawdown Comparison

The maximum PJFV drawdown since its inception was -18.15%, which is greater than PBQQ's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for PJFV and PBQQ.

Drawdown Indicators

	PJFV	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-12.92%	-5.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-4.71%	-2.60%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	—	—
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-2.11%	-1.26%	-0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	0.98%	+0.72%

Volatility

PJFV vs. PBQQ - Volatility Comparison

PGIM Jennison Focused Value ETF (PJFV) has a higher volatility of 4.21% compared to PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) at 1.07%. This indicates that PJFV's price experiences larger fluctuations and is considered to be riskier than PBQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJFV	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	1.07%	+3.14%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	5.51%	+4.50%
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	7.18%	+5.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.12%	11.88%	+2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.12%	11.88%	+2.24%

PJFV vs. PBQQ - Expense Ratio Comparison

PJFV has a 0.75% expense ratio, which is higher than PBQQ's 0.50% expense ratio.

Dividends

PJFV vs. PBQQ - Dividend Comparison

PJFV's dividend yield for the trailing twelve months is around 0.59%, more than PBQQ's 0.01% yield.

Position	TTM	2025	2024	2023	2022
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	0.01%	0.01%	0.00%	0.00%	0.00%
PJFV PGIM Jennison Focused Value ETF	0.59%	0.68%	1.31%	1.20%	0.12%

Frequently Asked Questions

Can I hold both PJFV and PBQQ in my portfolio?

PJFV and PBQQ have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJFV or PBQQ?

PJFV has higher volatility (4.21%) compared to PBQQ (1.07%). In terms of maximum drawdown, PJFV dropped -18.15% vs PBQQ's -12.92%.

Which ETF is better, PJFV or PBQQ?

On 1-year performance, PJFV leads with 35.20% vs 20.98% for PBQQ. On fees, PBQQ is cheaper at 0.50% per year. On volatility, PBQQ has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJFV or PBQQ?

Over the 1-year period, PJFV has performed better with a 35.20% return vs 20.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJFV or PBQQ?

PBQQ is cheaper with a 0.50% expense ratio, compared with 0.75% for PJFV.

Which ETF pays a higher dividend yield, PJFV or PBQQ?

PJFV has the higher dividend yield at 0.59%, compared with 0.01% for PBQQ.

What is the main difference between PJFV and PBQQ?

PJFV is categorized as Large Cap Value Equities, while PBQQ is Defined Outcome. Their fees differ too: 0.75% for PJFV and 0.50% for PBQQ.

Which has better risk-adjusted returns?

PBQQ currently has the higher Sharpe Ratio (2.94 vs 2.88), 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.