PMJA vs. IXC

Last updated Jul 11, 2026

PMJA (PGIM S&P 500 Max Buffer ETF - January) and IXC (iShares Global Energy ETF) are both exchange-traded funds - PMJA is a Defined Outcome fund actively managed by PGIM, while IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index. PMJA is actively managed, while IXC is passively managed. Over the past year, PMJA returned 6.55% vs 29.02% for IXC. At a 0.08 correlation, their price movements are largely independent. PMJA charges 0.50%/yr vs 0.40%/yr for IXC.

Performance

PMJA vs. IXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - January (PMJA) and iShares Global Energy ETF (IXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMJA achieves a 2.75% return, which is significantly lower than IXC's 23.35% return.

PMJA

• 1D: 0.05%
• 1M: 0.51%
• 6M: 2.50%
• YTD: 2.75%
• 1Y: 6.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IXC

• 1D: 0.51%
• 1M: -4.50%
• 6M: 20.68%
• YTD: 23.35%
• 1Y: 29.02%
• 3Y*: 14.69%
• 5Y*: 18.91%
• 10Y*: 8.83%

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

PMJA vs. IXC - Yearly Performance Comparison

	2026 (YTD)	2025
PMJA PGIM S&P 500 Max Buffer ETF - January	2.75%	6.76%
IXC iShares Global Energy ETF	23.35%	13.98%

Correlation

The correlation between PMJA and IXC is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.08

The correlation between PMJA and IXC shifts across timeframes, from -0.11 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PMJA vs. IXC — Risk / Return Rank

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

PMJA

PMJA Risk / Return Rank: 95
PMJA Sharpe Ratio Rank: 96
PMJA Sortino Ratio Rank: 97
PMJA Omega Ratio Rank: 96
PMJA Calmar Ratio Rank: 91
PMJA Martin Ratio Rank: 95

IXC

IXC Risk / Return Rank: 51
IXC Sharpe Ratio Rank: 58
IXC Sortino Ratio Rank: 53
IXC Omega Ratio Rank: 51
IXC Calmar Ratio Rank: 48
IXC Martin Ratio Rank: 47

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.

PMJA vs. IXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - January (PMJA) and iShares Global Energy ETF (IXC). 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.

	PMJA	IXC	Difference
Sharpe ratio: Return per unit of total volatility	3.28	1.56	+1.72
Sortino ratio: Return per unit of downside risk	5.21	2.09	+3.11
Omega ratio: Gain probability vs. loss probability	1.73	1.26	+0.46
Calmar ratio: Return relative to maximum drawdown	4.51	1.95	+2.56
Martin ratio: Return relative to average drawdown	22.26	6.26	+16.00

PMJA vs. IXC - Sharpe Ratio Comparison

The current PMJA Sharpe Ratio is 3.28, which is higher than the IXC Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of PMJA and IXC, 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

PMJA vs. IXC - Drawdown Comparison

The maximum PMJA drawdown since its inception was -2.98%, smaller than the maximum IXC drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for PMJA and IXC.

Drawdown Indicators

	PMJA	IXC	Difference
Max Drawdown Largest peak-to-trough decline	-2.98%	-67.88%	+64.90%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-15.36%	+13.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-64.16%	—
Current Drawdown Current decline from peak	0.00%	-11.22%	+11.22%
Average Drawdown Average peak-to-trough decline	-0.33%	-17.45%	+17.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	4.78%	-4.49%

Volatility

PMJA vs. IXC - Volatility Comparison

The current volatility for PGIM S&P 500 Max Buffer ETF - January (PMJA) is 0.51%, while iShares Global Energy ETF (IXC) has a volatility of 6.59%. This indicates that PMJA experiences smaller price fluctuations and is considered to be less risky than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMJA	IXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	6.59%	-6.08%
Volatility (6M) Calculated over the trailing 6-month period	1.59%	15.86%	-14.27%
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	19.18%	-17.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.80%	23.45%	-20.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.80%	26.81%	-24.01%

PMJA vs. IXC - Expense Ratio Comparison

PMJA has a 0.50% expense ratio, which is higher than IXC's 0.40% expense ratio.

Dividends

PMJA vs. IXC - Dividend Comparison

PMJA has not paid dividends to shareholders, while IXC's dividend yield for the trailing twelve months is around 3.08%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXC iShares Global Energy ETF	3.08%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%
PMJA PGIM S&P 500 Max Buffer ETF - January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMJA and IXC in my portfolio?

PMJA and IXC have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMJA or IXC?

IXC has higher volatility (6.59%) compared to PMJA (0.51%). In terms of maximum drawdown, PMJA dropped -2.98% vs IXC's -67.88%.

Which ETF is better, PMJA or IXC?

On 1-year performance, IXC leads with 29.02% vs 6.55% for PMJA. On fees, IXC is cheaper at 0.40% per year. On volatility, PMJA has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PMJA or IXC?

Over the 1-year period, IXC has performed better with a 29.02% return vs 6.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PMJA or IXC?

IXC is cheaper with a 0.40% expense ratio, compared with 0.50% for PMJA.

Which ETF pays a higher dividend yield, PMJA or IXC?

IXC has the higher dividend yield at 3.08%, compared with 0.00% for PMJA.

What is the main difference between PMJA and IXC?

PMJA is categorized as Defined Outcome, while IXC is Energy Equities. They also come from different issuers: PGIM and iShares. Their fees differ too: 0.50% for PMJA and 0.40% for IXC.

Which has better risk-adjusted returns?

PMJA currently has the higher Sharpe Ratio (3.28 vs 1.56), 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.