PMFB vs. VOO

Last updated Jun 23, 2026

PMFB (PGIM S&P 500 Max Buffer ETF - February) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - PMFB is a Defined Outcome fund actively managed by PGIM, while VOO is a S&P 500 fund tracking the S&P 500 Index. PMFB is actively managed, while VOO is passively managed. Over the past year, PMFB returned 7.90% vs 26.77% for VOO. Their correlation of 0.88 suggests significant overlap in exposure. PMFB charges 0.50%/yr vs 0.03%/yr for VOO.

Performance

PMFB vs. VOO - 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 Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMFB achieves a 2.52% return, which is significantly lower than VOO's 9.75% return.

PMFB

• 1D: -0.04%
• 1M: 0.18%
• YTD: 2.52%
• 6M: 2.66%
• 1Y: 7.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

PMFB vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025
PMFB PGIM S&P 500 Max Buffer ETF - February	2.52%	6.39%
VOO Vanguard S&P 500 ETF	9.75%	14.73%

Correlation

The correlation between PMFB and VOO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	0.88

The correlation between PMFB and VOO has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

PMFB vs. VOO — Risk / Return Rank

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

PMFB

PMFB Risk / Return Rank: 95
PMFB Sharpe Ratio Rank: 95
PMFB Sortino Ratio Rank: 97
PMFB Omega Ratio Rank: 97
PMFB Calmar Ratio Rank: 92
PMFB Martin Ratio Rank: 95

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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.

PMFB vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	3.72	2.17	+1.55
Sortino ratio: Return per unit of downside risk	5.89	2.93	+2.96
Omega ratio: Gain probability vs. loss probability	1.84	1.39	+0.45
Calmar ratio: Return relative to maximum drawdown	5.92	3.02	+2.90
Martin ratio: Return relative to average drawdown	30.29	13.58	+16.71

PMFB vs. VOO - Sharpe Ratio Comparison

The current PMFB Sharpe Ratio is 3.72, which is higher than the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PMFB and VOO, 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. VOO - Drawdown Comparison

The maximum PMFB drawdown since its inception was -2.94%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for PMFB and VOO.

Drawdown Indicators

	PMFB	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-2.94%	-33.99%	+31.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	-8.90%	+7.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-0.15%	-1.74%	+1.59%
Average Drawdown Average peak-to-trough decline	-0.37%	-3.68%	+3.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	1.98%	-1.72%

Volatility

PMFB vs. VOO - Volatility Comparison

The current volatility for PGIM S&P 500 Max Buffer ETF - February (PMFB) is 0.60%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.60%. This indicates that PMFB experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMFB	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	4.60%	-4.00%
Volatility (6M) Calculated over the trailing 6-month period	1.52%	9.73%	-8.21%
Volatility (1Y) Calculated over the trailing 1-year period	2.14%	12.39%	-10.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.76%	16.90%	-14.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.76%	18.05%	-15.29%

PMFB vs. VOO - Expense Ratio Comparison

PMFB has a 0.50% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

PMFB vs. VOO - Dividend Comparison

PMFB has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMFB PGIM S&P 500 Max Buffer ETF - February	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both PMFB and VOO in my portfolio?

With a correlation of 0.90, PMFB and VOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PMFB or VOO?

VOO has higher volatility (4.60%) compared to PMFB (0.60%). In terms of maximum drawdown, PMFB dropped -2.94% vs VOO's -33.99%.

Which ETF is better, PMFB or VOO?

On 1-year performance, VOO leads with 26.77% vs 7.90% for PMFB. On fees, VOO is cheaper at 0.03% per year. On volatility, PMFB has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PMFB or VOO?

Over the 1-year period, VOO has performed better with a 26.77% return vs 7.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PMFB or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.50% for PMFB.

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

VOO has the higher dividend yield at 1.04%, compared with 0.00% for PMFB.

What is the main difference between PMFB and VOO?

PMFB is categorized as Defined Outcome, while VOO is S&P 500. They also come from different issuers: PGIM and Vanguard. Their fees differ too: 0.50% for PMFB and 0.03% for VOO.

Which has better risk-adjusted returns?

PMFB currently has the higher Sharpe Ratio (3.72 vs 2.17), 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.