PMFB vs. XRLV

Last updated Jun 4, 2026

PMFB (PGIM S&P 500 Max Buffer ETF - February) and XRLV (Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF) are both exchange-traded funds - PMFB is a Defined Outcome fund actively managed by PGIM, while XRLV is a S&P 500 fund tracking the S&P 500 Low Volatility Rate Response Index. PMFB is actively managed, while XRLV is passively managed. At a 0.29 correlation, their price movements are largely independent. PMFB charges 0.50%/yr vs 0.25%/yr for XRLV.

Performance

PMFB vs. XRLV - 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 Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (XRLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PMFB

• 1D: -0.06%
• 1M: 0.80%
• YTD: 2.56%
• 6M: 3.26%
• 1Y: 8.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRLV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMFB vs. XRLV - Yearly Performance Comparison

	2026 (YTD)	2025
PMFB PGIM S&P 500 Max Buffer ETF - February	2.56%	6.28%
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF	6.34%	1.42%

Correlation

The correlation between PMFB and XRLV is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.29

Return for Risk

PMFB vs. XRLV — 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

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. XRLV - 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 Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (XRLV). 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.

	PMFB	XRLV	Difference
Sharpe ratio Return per unit of total volatility	3.83	—	—
Sortino ratio Return per unit of downside risk	6.15	—	—
Omega ratio Gain probability vs. loss probability	1.88	—	—
Calmar ratio Return relative to maximum drawdown	6.04	—	—
Martin ratio Return relative to average drawdown	31.52	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PMFB	XRLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.43	—	—

Drawdowns

Drawdown Indicators

	PMFB	XRLV	Difference
Max Drawdown Largest peak-to-trough decline	-2.94%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	—	—
Current Drawdown Current decline from peak	-0.06%	—	—
Average Drawdown Average peak-to-trough decline	-0.37%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	—	—

Volatility

Volatility by Period

	PMFB	XRLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.77%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.77%	—	—

PMFB vs. XRLV - Expense Ratio Comparison

PMFB has a 0.50% expense ratio, which is higher than XRLV's 0.25% expense ratio.

Dividends

PMFB vs. XRLV - Dividend Comparison

PMFB has not paid dividends to shareholders, while XRLV's dividend yield for the trailing twelve months is around 1.53%.

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%
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF	1.53%	2.15%	1.94%	2.57%	1.96%	1.26%	1.65%	1.66%	1.76%	1.39%	1.71%	1.07%

Frequently Asked Questions

Can I hold both PMFB and XRLV in my portfolio?

PMFB and XRLV have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMFB or XRLV?

On fees, XRLV is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMFB or XRLV?

XRLV is cheaper with a 0.25% expense ratio, compared with 0.50% for PMFB.

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

XRLV has the higher dividend yield at 1.53%, compared with 0.00% for PMFB.

What is the main difference between PMFB and XRLV?

PMFB is categorized as Defined Outcome, while XRLV is S&P 500. They also come from different issuers: PGIM and Invesco. Their fees differ too: 0.50% for PMFB and 0.25% for XRLV.