PMAU vs. PMFB

Last updated Jun 24, 2026

PMAU (PGIM S&P 500 Max Buffer ETF - August) and PMFB (PGIM S&P 500 Max Buffer ETF - February) are both Defined Outcome funds from PGIM. Both are actively managed. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

PMAU vs. PMFB - 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 PGIM S&P 500 Max Buffer ETF - February (PMFB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMAU achieves a 3.05% return, which is significantly higher than PMFB's 2.39% return.

PMAU

• 1D: -0.13%
• 1M: 0.30%
• YTD: 3.05%
• 6M: 3.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMFB

• 1D: -0.13%
• 1M: 0.06%
• YTD: 2.39%
• 6M: 2.46%
• 1Y: 7.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMAU vs. PMFB - Yearly Performance Comparison

	2026 (YTD)	2025
PMAU PGIM S&P 500 Max Buffer ETF - August	3.05%	2.94%
PMFB PGIM S&P 500 Max Buffer ETF - February	2.39%	3.39%

Correlation

The correlation between PMAU and PMFB is 0.86, 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	0.86

Return for Risk

PMAU vs. PMFB — 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.

PMFB

PMFB Risk / Return Rank: 95
PMFB Sharpe Ratio Rank: 95
PMFB Sortino Ratio Rank: 97
PMFB Omega Ratio Rank: 96
PMFB Calmar Ratio Rank: 92
PMFB Martin Ratio Rank: 95

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. PMFB - 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 PGIM S&P 500 Max Buffer ETF - February (PMFB). 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	PMFB	Difference
Sharpe ratio: Return per unit of total volatility	—	3.52	—
Sortino ratio: Return per unit of downside risk	—	5.52	—
Omega ratio: Gain probability vs. loss probability	—	1.78	—
Calmar ratio: Return relative to maximum drawdown	—	5.56	—
Martin ratio: Return relative to average drawdown	—	28.39	—

Drawdowns

PMAU vs. PMFB - Drawdown Comparison

The maximum PMAU drawdown since its inception was -1.79%, smaller than the maximum PMFB drawdown of -2.94%. Use the drawdown chart below to compare losses from any high point for PMAU and PMFB.

Drawdown Indicators

	PMAU	PMFB	Difference
Max Drawdown Largest peak-to-trough decline	-1.79%	-2.94%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.34%	—
Current Drawdown Current decline from peak	-0.13%	-0.27%	+0.14%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.36%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.26%	—

Volatility

Volatility by Period

	PMAU	PMFB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.48%	2.14%	+0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.48%	2.76%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.48%	2.76%	-0.28%

PMAU vs. PMFB - Expense Ratio Comparison

Both PMAU and PMFB have an expense ratio of 0.50%.

Dividends

PMAU vs. PMFB - Dividend Comparison

Neither PMAU nor PMFB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMAU and PMFB in my portfolio?

PMAU and PMFB have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMAU or PMFB?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMAU or PMFB?

PMAU and PMFB have the same expense ratio: 0.50% per year.

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

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