PJIO vs. UMMA

Last updated Jun 24, 2026

PJIO (PGIM Jennison International Opportunities ETF) and UMMA (Wahed Dow Jones Islamic World ETF) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past year, PJIO returned 12.58% vs 50.76% for UMMA. Their correlation of 0.87 suggests significant overlap in exposure. PJIO charges 0.90%/yr vs 0.65%/yr for UMMA.

Performance

PJIO vs. UMMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison International Opportunities ETF (PJIO) and Wahed Dow Jones Islamic World ETF (UMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJIO achieves a 9.78% return, which is significantly lower than UMMA's 29.52% return.

PJIO

• 1D: -5.08%
• 1M: 6.28%
• YTD: 9.78%
• 6M: 9.44%
• 1Y: 12.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UMMA

• 1D: -5.07%
• 1M: 4.45%
• YTD: 29.52%
• 6M: 30.57%
• 1Y: 50.76%
• 3Y*: 21.92%
• 5Y*: —
• 10Y*: —

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

PJIO vs. UMMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PJIO PGIM Jennison International Opportunities ETF	9.78%	17.75%	4.59%	-0.27%
UMMA Wahed Dow Jones Islamic World ETF	29.52%	26.65%	4.67%	2.16%

Correlation

The correlation between PJIO and UMMA is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Dec 19, 2023	0.87

The correlation between PJIO and UMMA has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

PJIO vs. UMMA - Sectors Allocation Comparison

Sectors	PJIO	UMMA
Technology	39.8%	48.2%
Industrials	26.3%	12.1%
Healthcare	12.2%	14.8%
Consumer Cyclical	11.4%	7.3%
Communication Services	6.0%	1.0%
Consumer Defensive	2.6%	5.0%
Financial Services	1.7%	0.0%
Basic Materials	-	8.8%
Energy	-	2.4%
Real Estate	-	0.4%
Utilities	-	-

Return for Risk

PJIO vs. UMMA — Risk / Return Rank

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

PJIO

PJIO Risk / Return Rank: 18
PJIO Sharpe Ratio Rank: 17
PJIO Sortino Ratio Rank: 18
PJIO Omega Ratio Rank: 18
PJIO Calmar Ratio Rank: 17
PJIO Martin Ratio Rank: 19

UMMA

UMMA Risk / Return Rank: 70
UMMA Sharpe Ratio Rank: 73
UMMA Sortino Ratio Rank: 65
UMMA Omega Ratio Rank: 71
UMMA Calmar Ratio Rank: 70
UMMA Martin Ratio Rank: 72

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.

PJIO vs. UMMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison International Opportunities ETF (PJIO) and Wahed Dow Jones Islamic World ETF (UMMA). 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.

	PJIO	UMMA	Difference
Sharpe ratio: Return per unit of total volatility	0.52	2.24	-1.72
Sortino ratio: Return per unit of downside risk	0.91	2.88	-1.98
Omega ratio: Gain probability vs. loss probability	1.12	1.40	-0.29
Calmar ratio: Return relative to maximum drawdown	0.66	3.42	-2.76
Martin ratio: Return relative to average drawdown	2.10	13.07	-10.97

PJIO vs. UMMA - Sharpe Ratio Comparison

The current PJIO Sharpe Ratio is 0.52, which is lower than the UMMA Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of PJIO and UMMA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PJIO vs. UMMA - Drawdown Comparison

The maximum PJIO drawdown since its inception was -19.26%, smaller than the maximum UMMA drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for PJIO and UMMA.

Drawdown Indicators

	PJIO	UMMA	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-34.17%	+14.91%
Max Drawdown (1Y) Largest decline over 1 year	-19.26%	-14.93%	-4.33%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.73%	—
Current Drawdown Current decline from peak	-5.08%	-5.07%	-0.01%
Average Drawdown Average peak-to-trough decline	-4.23%	-9.73%	+5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.00%	3.89%	+2.11%

Volatility

PJIO vs. UMMA - Volatility Comparison

PGIM Jennison International Opportunities ETF (PJIO) and Wahed Dow Jones Islamic World ETF (UMMA) have volatilities of 12.62% and 12.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJIO	UMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.62%	12.08%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	21.90%	20.30%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	24.33%	22.74%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.77%	21.08%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	21.08%	+0.69%

PJIO vs. UMMA - Expense Ratio Comparison

PJIO has a 0.90% expense ratio, which is higher than UMMA's 0.65% expense ratio.

Dividends

PJIO vs. UMMA - Dividend Comparison

PJIO's dividend yield for the trailing twelve months is around 0.17%, less than UMMA's 0.95% yield.

Position	TTM	2025	2024	2023	2022
PJIO PGIM Jennison International Opportunities ETF	0.17%	0.19%	0.22%	0.00%	0.00%
UMMA Wahed Dow Jones Islamic World ETF	0.95%	1.02%	0.91%	1.09%	1.77%

Frequently Asked Questions

Can I hold both PJIO and UMMA in my portfolio?

PJIO and UMMA have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJIO or UMMA?

PJIO has higher volatility (12.62%) compared to UMMA (12.08%). In terms of maximum drawdown, PJIO dropped -19.26% vs UMMA's -34.17%.

Which ETF is better, PJIO or UMMA?

On 1-year performance, UMMA leads with 50.76% vs 12.58% for PJIO. On fees, UMMA is cheaper at 0.65% per year. On volatility, UMMA has been the lower-risk option at 12.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJIO or UMMA?

Over the 1-year period, UMMA has performed better with a 50.76% return vs 12.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJIO or UMMA?

UMMA is cheaper with a 0.65% expense ratio, compared with 0.90% for PJIO.

Which ETF pays a higher dividend yield, PJIO or UMMA?

UMMA has the higher dividend yield at 0.95%, compared with 0.17% for PJIO.

What is the main difference between PJIO and UMMA?

They also come from different issuers: PGIM and Wahed. Their fees differ too: 0.90% for PJIO and 0.65% for UMMA.

Which has better risk-adjusted returns?

UMMA currently has the higher Sharpe Ratio (2.24 vs 0.52), 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.