PMFB vs. PJFV

Last updated Aug 6, 2026

PMFB (PGIM S&P 500 Max Buffer ETF - February) and PJFV (PGIM Jennison Focused Value ETF) are both exchange-traded funds - PMFB is a Defined Outcome fund actively managed by PGIM, while PJFV is a Large Cap Value Equities fund actively managed by PGIM. Both are actively managed. Over the past year, PMFB returned 7.14% vs 35.19% for PJFV. Their 0.79 correlation means they have sometimes moved together and sometimes differently. PMFB charges 0.50%/yr vs 0.75%/yr for PJFV.

Performance

PMFB vs. PJFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - February (PMFB) and PGIM Jennison Focused Value ETF (PJFV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMFB achieves a 3.58% return, which is significantly lower than PJFV's 22.66% return.

PMFB

• 1D: 0.07%
• 1M: 0.75%
• 6M: 3.09%
• YTD: 3.58%
• 1Y: 7.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.68%

PJFV

• 1D: -0.44%
• 1M: 2.59%
• 6M: 16.90%
• YTD: 22.66%
• 1Y: 35.19%
• 3Y*: 24.95%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.14%

*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)
PJFV PGIM Jennison Focused Value ETF	$1.95M	$1.88M	$1.60M
PMFB PGIM S&P 500 Max Buffer ETF - February	$186.25	$5.04K	$3.59K

PMFB vs. PJFV - Yearly Performance Comparison

	2026 (YTD)	2025
PMFB PGIM S&P 500 Max Buffer ETF - February	3.58%	6.39%
PJFV PGIM Jennison Focused Value ETF	22.66%	13.73%

Correlation

The correlation between PMFB and PJFV is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	0.79

The correlation between PMFB and PJFV has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.

Return for Risk

PMFB vs. PJFV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PMFB

PMFB Risk / Return Rank: 96
PMFB Sharpe Ratio Rank: 97
PMFB Sortino Ratio Rank: 97
PMFB Omega Ratio Rank: 97
PMFB Calmar Ratio Rank: 94
PMFB Martin Ratio Rank: 96

PJFV

PJFV Risk / Return Rank: 93
PJFV Sharpe Ratio Rank: 93
PJFV Sortino Ratio Rank: 93
PJFV Omega Ratio Rank: 92
PJFV Calmar Ratio Rank: 93
PJFV Martin Ratio Rank: 94

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.

PMFB vs. PJFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - February (PMFB) and PGIM Jennison Focused Value ETF (PJFV). 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.

	PMFB	PJFV	Difference
Sharpe ratio: Return per unit of total volatility	3.49	2.71	+0.78
Sortino ratio: Return per unit of downside risk	5.40	3.72	+1.68
Omega ratio: Gain probability vs. loss probability	1.76	1.48	+0.28
Calmar ratio: Return relative to maximum drawdown	5.35	4.83	+0.52
Martin ratio: Return relative to average drawdown	27.07	20.45	+6.62

PMFB vs. PJFV - Sharpe Ratio Comparison

The current PMFB Sharpe Ratio is 3.49, which is comparable to the PJFV Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of PMFB and PJFV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PMFB vs. PJFV - Drawdown Comparison

The maximum PMFB drawdown since its inception was -2.94%, smaller than the maximum PJFV drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for PMFB and PJFV.

Drawdown Indicators

	PMFB	PJFV	Difference
Max Drawdown Largest peak-to-trough decline	-2.94%	-18.15%	+15.21%
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	-7.31%	+5.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.15%	—
Current Drawdown Current decline from peak	0.00%	-0.44%	+0.44%
Average Drawdown Average peak-to-trough decline	-0.34%	-2.06%	+1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	1.73%	-1.47%

Volatility

PMFB vs. PJFV - Volatility Comparison

The current volatility for PGIM S&P 500 Max Buffer ETF - February (PMFB) is 0.52%, while PGIM Jennison Focused Value ETF (PJFV) has a volatility of 3.94%. This indicates that PMFB experiences smaller price fluctuations and is considered to be less risky than PJFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMFB	PJFV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	3.94%	-3.42%
Volatility (6M) Calculated over the trailing 6-month period	1.60%	10.66%	-9.06%
Volatility (1Y) Calculated over the trailing 1-year period	2.06%	13.07%	-11.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.69%	14.13%	-11.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.69%	14.13%	-11.44%

PMFB vs. PJFV - Expense Ratio Comparison

PMFB has a 0.50% expense ratio, which is lower than PJFV's 0.75% expense ratio.

Dividends

PMFB vs. PJFV - Dividend Comparison

PMFB has not paid dividends to shareholders, while PJFV's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023	2022
PJFV PGIM Jennison Focused Value ETF	0.56%	0.68%	1.31%	1.20%	0.12%
PMFB PGIM S&P 500 Max Buffer ETF - February	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMFB and PJFV in my portfolio?

PMFB and PJFV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMFB or PJFV?

PJFV has higher volatility (3.94%) compared to PMFB (0.52%). In terms of maximum drawdown, PMFB dropped -2.94% vs PJFV's -18.15%.

Which ETF is better, PMFB or PJFV?

On 1-year performance, PJFV leads with 35.19% vs 7.14% for PMFB. On fees, PMFB is cheaper at 0.50% per year. On volatility, PMFB has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PMFB or PJFV?

Over the 1-year period, PJFV has performed better with a 35.19% return vs 7.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PMFB or PJFV?

PMFB is cheaper with a 0.50% expense ratio, compared with 0.75% for PJFV.

Which ETF pays a higher dividend yield, PMFB or PJFV?

PJFV has the higher dividend yield at 0.56%, compared with 0.00% for PMFB.

What is the main difference between PMFB and PJFV?

PMFB is categorized as Defined Outcome, while PJFV is Large Cap Value Equities. Their fees differ too: 0.50% for PMFB and 0.75% for PJFV.

Which has better risk-adjusted returns?

PMFB currently has the higher Sharpe Ratio (3.49 vs 2.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.