PMDE vs. XTOC

Last updated Aug 2, 2026

PMDE (PGIM S&P 500 Max Buffer ETF - December) and XTOC (Innovator U.S. Equity Accelerated Plus ETF - October) are both exchange-traded funds - PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY), while XTOC is a Options Trading fund actively managed by Innovator. PMDE is passively managed, while XTOC is actively managed. Their correlation of 0.87 means they have usually moved in the same direction. PMDE charges 0.50%/yr vs 0.79%/yr for XTOC.

Performance

PMDE vs. XTOC - 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 Innovator U.S. Equity Accelerated Plus ETF - October (XTOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMDE achieves a 3.38% return, which is significantly lower than XTOC's 9.19% return.

PMDE

• 1D: 0.17%
• 1M: 0.58%
• 6M: 2.98%
• YTD: 3.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

XTOC

• 1D: 0.50%
• 1M: 1.08%
• 6M: 8.10%
• YTD: 9.19%
• 1Y: 15.73%
• 3Y*: 14.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PMDE PGIM S&P 500 Max Buffer ETF - December	$11.74K	$127.64K	$99.07K
XTOC Innovator U.S. Equity Accelerated Plus ETF - October	$194.94K	$226.73K	$199.86K

PMDE vs. XTOC - Yearly Performance Comparison

	2026 (YTD)	2025
PMDE PGIM S&P 500 Max Buffer ETF - December	3.38%	0.44%
XTOC Innovator U.S. Equity Accelerated Plus ETF - October	9.19%	0.95%

Correlation

The correlation between PMDE and XTOC is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 1, 2025	0.87

Return for Risk

PMDE vs. XTOC — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

XTOC

XTOC Risk / Return Rank: 70
XTOC Sharpe Ratio Rank: 68
XTOC Sortino Ratio Rank: 70
XTOC Omega Ratio Rank: 77
XTOC Calmar Ratio Rank: 56
XTOC Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PMDE vs. XTOC - 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 Innovator U.S. Equity Accelerated Plus ETF - October (XTOC). 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	XTOC	Difference
Sharpe ratio: Return per unit of total volatility	—	1.59	—
Sortino ratio: Return per unit of downside risk	—	2.30	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.00	—
Martin ratio: Return relative to average drawdown	—	10.63	—

Drawdowns

PMDE vs. XTOC - Drawdown Comparison

The maximum PMDE drawdown since its inception was -1.59%, smaller than the maximum XTOC drawdown of -24.09%. Use the drawdown chart below to compare losses from any high point for PMDE and XTOC.

Drawdown Indicators

	PMDE	XTOC	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-24.09%	+22.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.02%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.23%	-4.72%	+4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.39%	—

Volatility

Volatility by Period

	PMDE	XTOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	9.33%	-6.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.37%	14.96%	-12.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.37%	14.96%	-12.59%

PMDE vs. XTOC - Expense Ratio Comparison

PMDE has a 0.50% expense ratio, which is lower than XTOC's 0.79% expense ratio.

Dividends

PMDE vs. XTOC - Dividend Comparison

Neither PMDE nor XTOC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMDE and XTOC in my portfolio?

PMDE and XTOC have a correlation of 0.87, 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 XTOC?

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 XTOC?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.79% for XTOC.

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

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

What is the main difference between PMDE and XTOC?

PMDE is categorized as Defined Outcome, while XTOC is Options Trading. They also come from different issuers: PGIM and Innovator. Their fees differ too: 0.50% for PMDE and 0.79% for XTOC.