PMDE vs. IVVM

Last updated Jun 5, 2026

PMDE (PGIM S&P 500 Max Buffer ETF - December) and IVVM (iShares Large Cap Moderate Buffer ETF) are both exchange-traded funds - PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY), while IVVM is a Options Trading fund actively managed by iShares. PMDE is passively managed, while IVVM is actively managed. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

PMDE vs. IVVM - 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 iShares Large Cap Moderate Buffer ETF (IVVM). 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 IVVM's 6.18% return.

PMDE

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

IVVM

• 1D: 0.22%
• 1M: 1.85%
• YTD: 6.18%
• 6M: 6.26%
• 1Y: 16.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMDE vs. IVVM - Yearly Performance Comparison

	2026 (YTD)	2025
PMDE PGIM S&P 500 Max Buffer ETF - December	2.67%	0.46%
IVVM iShares Large Cap Moderate Buffer ETF	6.18%	0.66%

Correlation

The correlation between PMDE and IVVM is 0.83, 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	0.83

Return for Risk

PMDE vs. IVVM — Risk / Return Rank

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

IVVM

IVVM Risk / Return Rank: 75
IVVM Sharpe Ratio Rank: 73
IVVM Sortino Ratio Rank: 76
IVVM Omega Ratio Rank: 82
IVVM Calmar Ratio Rank: 64
IVVM Martin Ratio Rank: 80

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. IVVM - 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 iShares Large Cap Moderate Buffer ETF (IVVM). 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	IVVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.58	1.50	+1.07

Drawdowns

PMDE vs. IVVM - Drawdown Comparison

The maximum PMDE drawdown since its inception was -1.59%, smaller than the maximum IVVM drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for PMDE and IVVM.

Drawdown Indicators

	PMDE	IVVM	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-11.62%	+10.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.31%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.26%	-0.92%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.06%	—

Volatility

Volatility by Period

	PMDE	IVVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	7.03%	-4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.46%	9.62%	-7.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.46%	9.62%	-7.16%

PMDE vs. IVVM - Expense Ratio Comparison

Both PMDE and IVVM have an expense ratio of 0.50%.

Dividends

PMDE vs. IVVM - Dividend Comparison

PMDE has not paid dividends to shareholders, while IVVM's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025	2024
IVVM iShares Large Cap Moderate Buffer ETF	0.64%	0.68%	0.62%
PMDE PGIM S&P 500 Max Buffer ETF - December	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMDE and IVVM in my portfolio?

PMDE and IVVM have a correlation of 0.83, 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 IVVM?

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, PMDE or IVVM?

PMDE and IVVM have the same expense ratio: 0.50% per year.

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

IVVM has the higher dividend yield at 0.64%, compared with 0.00% for PMDE.

What is the main difference between PMDE and IVVM?

PMDE is categorized as Defined Outcome, while IVVM is Options Trading. They also come from different issuers: PGIM and iShares.