PMDE vs. NVDY

Last updated Jun 5, 2026

PMDE (PGIM S&P 500 Max Buffer ETF - December) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY), while NVDY is a Derivative Income fund actively managed by YieldMax. PMDE is passively managed, while NVDY is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. PMDE charges 0.50%/yr vs 0.99%/yr for NVDY.

Performance

PMDE vs. NVDY - 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 YieldMax NVDA Option Income Strategy ETF (NVDY). 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 NVDY's 14.49% return.

PMDE

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

NVDY

• 1D: 1.27%
• 1M: 7.84%
• YTD: 14.49%
• 6M: 17.01%
• 1Y: 47.85%
• 3Y*: 55.07%
• 5Y*: —
• 10Y*: —

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

PMDE vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025
PMDE PGIM S&P 500 Max Buffer ETF - December	2.67%	0.46%
NVDY YieldMax NVDA Option Income Strategy ETF	14.49%	4.07%

Correlation

The correlation between PMDE and NVDY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 2, 2025	0.53

Return for Risk

PMDE vs. NVDY — Risk / Return Rank

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

NVDY

NVDY Risk / Return Rank: 56
NVDY Sharpe Ratio Rank: 52
NVDY Sortino Ratio Rank: 48
NVDY Omega Ratio Rank: 48
NVDY Calmar Ratio Rank: 76
NVDY Martin Ratio Rank: 54

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. NVDY - 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 YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.58	1.65	+0.93

Drawdowns

PMDE vs. NVDY - Drawdown Comparison

The maximum PMDE drawdown since its inception was -1.59%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for PMDE and NVDY.

Drawdown Indicators

	PMDE	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-34.08%	+32.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.81%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	0.00%	-5.47%	+5.47%
Average Drawdown Average peak-to-trough decline	-0.26%	-6.15%	+5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.21%	—

Volatility

Volatility by Period

	PMDE	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	27.33%	-24.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.46%	38.22%	-35.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.46%	38.22%	-35.76%

PMDE vs. NVDY - Expense Ratio Comparison

PMDE has a 0.50% expense ratio, which is lower than NVDY's 0.99% expense ratio.

Dividends

PMDE vs. NVDY - Dividend Comparison

PMDE has not paid dividends to shareholders, while NVDY's dividend yield for the trailing twelve months is around 62.14%.

Position	TTM	2025	2024	2023
NVDY YieldMax NVDA Option Income Strategy ETF	62.14%	83.10%	83.65%	22.32%
PMDE PGIM S&P 500 Max Buffer ETF - December	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMDE and NVDY in my portfolio?

PMDE and NVDY have a correlation of 0.53, 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 NVDY?

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 NVDY?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.99% for NVDY.

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

NVDY has the higher dividend yield at 62.14%, compared with 0.00% for PMDE.

What is the main difference between PMDE and NVDY?

PMDE is categorized as Defined Outcome, while NVDY is Derivative Income. They also come from different issuers: PGIM and YieldMax. Their fees differ too: 0.50% for PMDE and 0.99% for NVDY.