PMAU vs. FEBU

Last updated Jul 14, 2026

PMAU (PGIM S&P 500 Max Buffer ETF - August) and FEBU (AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. PMAU charges 0.50%/yr vs 0.74%/yr for FEBU.

Performance

PMAU vs. FEBU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - August (PMAU) and AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMAU achieves a 3.59% return, which is significantly lower than FEBU's 7.39% return.

PMAU

• 1D: 0.00%
• 1M: 0.64%
• 6M: 3.21%
• YTD: 3.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEBU

• 1D: -0.57%
• 1M: 0.81%
• 6M: 5.42%
• YTD: 7.39%
• 1Y: 15.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMAU vs. FEBU - Yearly Performance Comparison

	2026 (YTD)	2025
PMAU PGIM S&P 500 Max Buffer ETF - August	3.59%	2.94%
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	7.39%	6.27%

Correlation

The correlation between PMAU and FEBU is 0.90, 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 Aug 1, 2025	0.90

Return for Risk

PMAU vs. FEBU — Risk / Return Rank

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

PMAU

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

FEBU

FEBU Risk / Return Rank: 60
FEBU Sharpe Ratio Rank: 58
FEBU Sortino Ratio Rank: 56
FEBU Omega Ratio Rank: 56
FEBU Calmar Ratio Rank: 64
FEBU Martin Ratio Rank: 65

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.

PMAU vs. FEBU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - August (PMAU) and AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU). 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.

	PMAU	FEBU	Difference
Sharpe ratio: Return per unit of total volatility	—	1.55	—
Sortino ratio: Return per unit of downside risk	—	2.16	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.56	—
Martin ratio: Return relative to average drawdown	—	9.14	—

Drawdowns

PMAU vs. FEBU - Drawdown Comparison

The maximum PMAU drawdown since its inception was -1.79%, smaller than the maximum FEBU drawdown of -11.73%. Use the drawdown chart below to compare losses from any high point for PMAU and FEBU.

Drawdown Indicators

	PMAU	FEBU	Difference
Max Drawdown Largest peak-to-trough decline	-1.79%	-11.73%	+9.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.99%	—
Current Drawdown Current decline from peak	0.00%	-1.32%	+1.32%
Average Drawdown Average peak-to-trough decline	-0.16%	-1.89%	+1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.67%	—

Volatility

Volatility by Period

	PMAU	FEBU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.41%	9.90%	-7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.41%	11.50%	-9.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.41%	11.50%	-9.09%

PMAU vs. FEBU - Expense Ratio Comparison

PMAU has a 0.50% expense ratio, which is lower than FEBU's 0.74% expense ratio.

Dividends

PMAU vs. FEBU - Dividend Comparison

Neither PMAU nor FEBU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMAU and FEBU in my portfolio?

With a correlation of 0.90, PMAU and FEBU 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, PMAU or FEBU?

On fees, PMAU is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMAU or FEBU?

PMAU is cheaper with a 0.50% expense ratio, compared with 0.74% for FEBU.

Which ETF pays a higher dividend yield, PMAU or FEBU?

PMAU and FEBU have nearly identical dividend yields, around 0.00%.

What is the main difference between PMAU and FEBU?

They also come from different issuers: PGIM and Allianz. Their fees differ too: 0.50% for PMAU and 0.74% for FEBU.