PMDE vs. PMMY

Last updated Jun 25, 2026

PMDE (PGIM S&P 500 Max Buffer ETF - December) and PMMY (PGIM S&P 500 Max Buffer ETF - May) are both Defined Outcome funds from PGIM. PMDE is passively managed, while PMMY is actively managed. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.

Performance

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

Returns By Period

In the year-to-date period, PMDE achieves a 2.41% return, which is significantly higher than PMMY's 1.87% return.

PMDE

• 1D: -0.10%
• 1M: 0.04%
• YTD: 2.41%
• 6M: 2.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMMY

• 1D: -0.02%
• 1M: -0.10%
• YTD: 1.87%
• 6M: 1.92%
• 1Y: 5.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMDE vs. PMMY - Yearly Performance Comparison

	2026 (YTD)	2025
PMDE PGIM S&P 500 Max Buffer ETF - December	2.41%	0.44%
PMMY PGIM S&P 500 Max Buffer ETF - May	1.87%	0.60%

Correlation

The correlation between PMDE and PMMY is 0.72, 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 1, 2025	0.72

Return for Risk

PMDE vs. PMMY — Risk / Return Rank

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

PMDE

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

PMMY

PMMY Risk / Return Rank: 97
PMMY Sharpe Ratio Rank: 97
PMMY Sortino Ratio Rank: 97
PMMY Omega Ratio Rank: 98
PMMY Calmar Ratio Rank: 96
PMMY 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. PMMY - 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 PGIM S&P 500 Max Buffer ETF - May (PMMY). 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.

	PMDE	PMMY	Difference
Sharpe ratio: Return per unit of total volatility	—	3.96	—
Sortino ratio: Return per unit of downside risk	—	6.04	—
Omega ratio: Gain probability vs. loss probability	—	1.99	—
Calmar ratio: Return relative to maximum drawdown	—	8.50	—
Martin ratio: Return relative to average drawdown	—	52.16	—

Drawdowns

PMDE vs. PMMY - Drawdown Comparison

The maximum PMDE drawdown since its inception was -1.59%, which is greater than PMMY's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for PMDE and PMMY.

Drawdown Indicators

	PMDE	PMMY	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-0.60%	-0.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.60%	—
Current Drawdown Current decline from peak	-0.31%	-0.37%	+0.06%
Average Drawdown Average peak-to-trough decline	-0.25%	-0.05%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.10%	—

Volatility

Volatility by Period

	PMDE	PMMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	1.29%	+1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.46%	1.51%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.46%	1.51%	+0.95%

PMDE vs. PMMY - Expense Ratio Comparison

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

Dividends

PMDE vs. PMMY - Dividend Comparison

Neither PMDE nor PMMY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMDE and PMMY in my portfolio?

PMDE and PMMY have a correlation of 0.72, 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 PMMY?

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 PMMY?

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

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

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