PMDE vs. APRT

Last updated Jun 5, 2026

PMDE (PGIM S&P 500 Max Buffer ETF - December) and APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) are both exchange-traded funds - PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY), while APRT is a Options Trading fund actively managed by Allianz. PMDE is passively managed, while APRT is actively managed. Their correlation of 0.85 suggests significant overlap in exposure. PMDE charges 0.50%/yr vs 0.74%/yr for APRT.

Performance

PMDE vs. APRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - December (PMDE) and AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMDE achieves a 2.67% return, which is significantly lower than APRT's 10.09% return.

PMDE

• 1D: 0.06%
• 1M: 0.76%
• YTD: 2.67%
• 6M: 3.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

APRT

• 1D: 0.18%
• 1M: 1.95%
• YTD: 10.09%
• 6M: 11.06%
• 1Y: 19.31%
• 3Y*: 14.55%
• 5Y*: 10.68%
• 10Y*: —

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

PMDE vs. APRT - Yearly Performance Comparison

	2026 (YTD)	2025
PMDE PGIM S&P 500 Max Buffer ETF - December	2.67%	0.46%
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	10.09%	1.06%

Correlation

The correlation between PMDE and APRT is 0.85, 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 Dec 2, 2025	0.85

Return for Risk

PMDE vs. APRT — Risk / Return Rank

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

APRT

APRT Risk / Return Rank: 97
APRT Sharpe Ratio Rank: 95
APRT Sortino Ratio Rank: 98
APRT Omega Ratio Rank: 98
APRT Calmar Ratio Rank: 97
APRT Martin Ratio Rank: 98

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.

PMDE vs. APRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - December (PMDE) and AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT). 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.

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

Sharpe Ratios by Period

	PMDE	APRT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.87	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.58	1.11	+1.47

Drawdowns

PMDE vs. APRT - Drawdown Comparison

The maximum PMDE drawdown since its inception was -1.59%, smaller than the maximum APRT drawdown of -14.98%. Use the drawdown chart below to compare losses from any high point for PMDE and APRT.

Drawdown Indicators

	PMDE	APRT	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-14.98%	+13.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.98%	—
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.26%	-2.05%	+1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.29%	—

Volatility

Volatility by Period

	PMDE	APRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.99%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	5.01%	-2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.46%	10.78%	-8.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.46%	10.29%	-7.83%

PMDE vs. APRT - Expense Ratio Comparison

PMDE has a 0.50% expense ratio, which is lower than APRT's 0.74% expense ratio.

Dividends

PMDE vs. APRT - Dividend Comparison

Neither PMDE nor APRT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.67%
PMDE PGIM S&P 500 Max Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMDE and APRT in my portfolio?

PMDE and APRT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMDE or APRT?

On fees, PMDE 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, PMDE or APRT?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.74% for APRT.

Which ETF pays a higher dividend yield, PMDE or APRT?

PMDE and APRT have nearly identical dividend yields, around 0.00%.

What is the main difference between PMDE and APRT?

PMDE is categorized as Defined Outcome, while APRT is Options Trading. They also come from different issuers: PGIM and Allianz. Their fees differ too: 0.50% for PMDE and 0.74% for APRT.