PMDE vs. TMAR

Last updated Jun 5, 2026

PMDE (PGIM S&P 500 Max Buffer ETF - December) and TMAR (FT Vest Emerging Markets Buffer ETF - March) are both Defined Outcome funds - PMDE tracks the SPDR S&P 500 ETF Trust (SPY) while TMAR tracks the iShares MSCI Emerging Markets ETF (EEM) Price Return. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. PMDE charges 0.50%/yr vs 0.95%/yr for TMAR.

Performance

PMDE vs. TMAR - 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 FT Vest Emerging Markets Buffer ETF - March (TMAR). 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 TMAR's 13.87% return.

PMDE

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

TMAR

• 1D: -0.51%
• 1M: 0.74%
• YTD: 13.87%
• 6M: 15.22%
• 1Y: 27.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMDE vs. TMAR - Yearly Performance Comparison

	2026 (YTD)	2025
PMDE PGIM S&P 500 Max Buffer ETF - December	2.67%	0.46%
TMAR FT Vest Emerging Markets Buffer ETF - March	13.87%	1.46%

Correlation

The correlation between PMDE and TMAR is 0.62, 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	0.63

Return for Risk

PMDE vs. TMAR — Risk / Return Rank

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

TMAR

TMAR Risk / Return Rank: 93
TMAR Sharpe Ratio Rank: 88
TMAR Sortino Ratio Rank: 92
TMAR Omega Ratio Rank: 95
TMAR Calmar Ratio Rank: 94
TMAR Martin Ratio Rank: 96

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. TMAR - 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 FT Vest Emerging Markets Buffer ETF - March (TMAR). 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	TMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.58	2.20	+0.38

Drawdowns

PMDE vs. TMAR - Drawdown Comparison

The maximum PMDE drawdown since its inception was -1.59%, smaller than the maximum TMAR drawdown of -9.93%. Use the drawdown chart below to compare losses from any high point for PMDE and TMAR.

Drawdown Indicators

	PMDE	TMAR	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-9.93%	+8.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.64%	—
Current Drawdown Current decline from peak	0.00%	-1.23%	+1.23%
Average Drawdown Average peak-to-trough decline	-0.26%	-0.66%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.76%	—

Volatility

Volatility by Period

	PMDE	TMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	9.48%	-7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.46%	11.41%	-8.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.46%	11.41%	-8.95%

PMDE vs. TMAR - Expense Ratio Comparison

PMDE has a 0.50% expense ratio, which is lower than TMAR's 0.95% expense ratio.

Dividends

PMDE vs. TMAR - Dividend Comparison

Neither PMDE nor TMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMDE and TMAR in my portfolio?

PMDE and TMAR have a correlation of 0.62, 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 TMAR?

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 TMAR?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.95% for TMAR.

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

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

What is the main difference between PMDE and TMAR?

PMDE tracks SPDR S&P 500 ETF Trust (SPY), while TMAR tracks iShares MSCI Emerging Markets ETF (EEM) Price Return. They also come from different issuers: PGIM and First Trust. Their fees differ too: 0.50% for PMDE and 0.95% for TMAR.