PMDE vs. JANB

Last updated Jun 23, 2026

PMDE (PGIM S&P 500 Max Buffer ETF - December) and JANB (Aptus January Buffer ETF) are both Defined Outcome funds. PMDE is passively managed, while JANB is actively managed. Their correlation of 0.91 suggests significant overlap in exposure. PMDE charges 0.50%/yr vs 0.25%/yr for JANB.

Performance

PMDE vs. JANB - 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 Aptus January Buffer ETF (JANB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMDE achieves a 2.65% return, which is significantly lower than JANB's 5.85% return.

PMDE

• 1D: -0.02%
• 1M: 0.27%
• YTD: 2.65%
• 6M: 2.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JANB

• 1D: -0.22%
• 1M: 0.35%
• YTD: 5.85%
• 6M: 6.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMDE vs. JANB - Yearly Performance Comparison

	2026 (YTD)	2025
PMDE PGIM S&P 500 Max Buffer ETF - December	2.65%	0.44%
JANB Aptus January Buffer ETF	5.85%	1.08%

Correlation

The correlation between PMDE and JANB is 0.91, 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 1, 2025	0.91

Return for Risk

PMDE vs. JANB - 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 Aptus January Buffer ETF (JANB). 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.

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

Drawdowns

PMDE vs. JANB - Drawdown Comparison

The maximum PMDE drawdown since its inception was -1.59%, smaller than the maximum JANB drawdown of -6.52%. Use the drawdown chart below to compare losses from any high point for PMDE and JANB.

Drawdown Indicators

	PMDE	JANB	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-6.52%	+4.93%
Current Drawdown Current decline from peak	-0.08%	-0.48%	+0.40%
Average Drawdown Average peak-to-trough decline	-0.25%	-1.10%	+0.85%

Volatility

Volatility by Period

	PMDE	JANB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.47%	7.50%	-5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.47%	7.50%	-5.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.47%	7.50%	-5.03%

PMDE vs. JANB - Expense Ratio Comparison

PMDE has a 0.50% expense ratio, which is higher than JANB's 0.25% expense ratio.

Dividends

PMDE vs. JANB - Dividend Comparison

Neither PMDE nor JANB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMDE and JANB in my portfolio?

With a correlation of 0.91, PMDE and JANB 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, PMDE or JANB?

On fees, JANB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMDE or JANB?

JANB is cheaper with a 0.25% expense ratio, compared with 0.50% for PMDE.

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

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

What is the main difference between PMDE and JANB?

They also come from different issuers: PGIM and Aptus Capital Advisors. Their fees differ too: 0.50% for PMDE and 0.25% for JANB.