PMJA vs. PMMY
PMJA (PGIM S&P 500 Max Buffer ETF - January) and PMMY (PGIM S&P 500 Max Buffer ETF - May) are both Defined Outcome funds from PGIM. Both are actively managed. Over the past year, PMJA returned 7.11% vs 5.24% for PMMY. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
PMJA vs. PMMY - Performance Comparison
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Returns By Period
In the year-to-date period, PMJA achieves a 2.26% return, which is significantly higher than PMMY's 1.89% return.
PMJA
- 1D
- -0.09%
- 1M
- 0.14%
- YTD
- 2.26%
- 6M
- 2.38%
- 1Y
- 7.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMMY
- 1D
- -0.15%
- 1M
- -0.09%
- YTD
- 1.89%
- 6M
- 1.97%
- 1Y
- 5.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMJA vs. PMMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PMJA PGIM S&P 500 Max Buffer ETF - January | 2.26% | 6.98% |
PMMY PGIM S&P 500 Max Buffer ETF - May | 1.89% | 4.44% |
Correlation
The correlation between PMJA and PMMY is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.73 |
The correlation between PMJA and PMMY has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.
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Return for Risk
PMJA vs. PMMY — Risk / Return Rank
PMJA
PMMY
PMJA vs. PMMY - 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 PGIM S&P 500 Max Buffer ETF - May (PMMY). 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 | PMMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.79 | 2.03 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 4.91 | 8.82 | -3.90 |
| Martin ratioReturn relative to average drawdown | 24.37 | 55.73 | -31.36 |
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Drawdowns
PMJA vs. PMMY - Drawdown Comparison
The maximum PMJA drawdown since its inception was -2.98%, which is greater than PMMY's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for PMJA and PMMY.
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Drawdown Indicators
| PMJA | PMMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.98% | -0.60% | -2.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.45% | -0.60% | -0.85% |
Current DrawdownCurrent decline from peak | -0.22% | -0.35% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -0.33% | -0.05% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 0.09% | +0.20% |
Volatility
PMJA vs. PMMY - Volatility Comparison
The current volatility for PGIM S&P 500 Max Buffer ETF - January (PMJA) is 0.54%, while PGIM S&P 500 Max Buffer ETF - May (PMMY) has a volatility of 0.70%. This indicates that PMJA experiences smaller price fluctuations and is considered to be less risky than PMMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMJA | PMMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 0.70% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 1.10% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 1.30% | +0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 1.51% | +1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.83% | 1.51% | +1.32% |
PMJA vs. PMMY - Expense Ratio Comparison
Both PMJA and PMMY have an expense ratio of 0.50%.
Dividends
PMJA vs. PMMY - Dividend Comparison
Neither PMJA nor PMMY has paid dividends to shareholders.
Frequently Asked Questions
PMJA and PMMY 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.
PMMY has higher volatility (0.70%) compared to PMJA (0.54%). In terms of maximum drawdown, PMJA dropped -2.98% vs PMMY's -0.60%.
On 1-year performance, PMJA leads with 7.11% vs 5.24% for PMMY. Both ETFs have the same 0.50% expense ratio. On volatility, PMJA has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PMJA has performed better with a 7.11% return vs 5.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PMJA and PMMY have the same expense ratio: 0.50% per year.
PMJA and PMMY have nearly identical dividend yields, around 0.00%.
PMMY currently has the higher Sharpe Ratio (4.08 vs 3.53), 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.
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