PMJN vs. RSP

Last updated Jun 4, 2026

PMJN (PGIM S&P 500 Max Buffer ETF - June) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - PMJN is a Defined Outcome fund actively managed by PGIM, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. PMJN is actively managed, while RSP is passively managed. Over the past year, PMJN returned 6.52% vs 19.50% for RSP. A 0.71 correlation means they provide meaningful diversification when combined. PMJN charges 0.50%/yr vs 0.20%/yr for RSP.

Performance

PMJN vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - June (PMJN) and Invesco S&P 500 Equal Weight ETF (RSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMJN achieves a 2.33% return, which is significantly lower than RSP's 9.70% return.

PMJN

• 1D: -0.11%
• 1M: 0.28%
• YTD: 2.33%
• 6M: 2.88%
• 1Y: 6.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RSP

• 1D: -0.38%
• 1M: 3.77%
• YTD: 9.70%
• 6M: 10.18%
• 1Y: 19.50%
• 3Y*: 15.23%
• 5Y*: 8.33%
• 10Y*: 11.86%

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

PMJN vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025
PMJN PGIM S&P 500 Max Buffer ETF - June	2.33%	4.21%
RSP Invesco S&P 500 Equal Weight ETF	9.70%	9.84%

Correlation

The correlation between PMJN and RSP is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	0.71

The correlation between PMJN and RSP has been stable across timeframes, ranging from 0.71 to 0.71 - a consistent structural relationship.

Return for Risk

PMJN vs. RSP — Risk / Return Rank

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

PMJN

PMJN Risk / Return Rank: 95
PMJN Sharpe Ratio Rank: 95
PMJN Sortino Ratio Rank: 97
PMJN Omega Ratio Rank: 97
PMJN Calmar Ratio Rank: 90
PMJN Martin Ratio Rank: 96

RSP

RSP Risk / Return Rank: 49
RSP Sharpe Ratio Rank: 48
RSP Sortino Ratio Rank: 49
RSP Omega Ratio Rank: 46
RSP Calmar Ratio Rank: 50
RSP Martin Ratio Rank: 54

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.

PMJN vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - June (PMJN) and Invesco S&P 500 Equal Weight ETF (RSP). 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.

	PMJN	RSP	Difference
Sharpe ratio: Return per unit of total volatility	3.75	1.70	+2.06
Sortino ratio: Return per unit of downside risk	6.20	2.47	+3.73
Omega ratio: Gain probability vs. loss probability	1.97	1.30	+0.67
Calmar ratio: Return relative to maximum drawdown	5.69	2.49	+3.20
Martin ratio: Return relative to average drawdown	37.72	9.48	+28.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMJN vs. RSP - Sharpe Ratio Comparison

The current PMJN Sharpe Ratio is 3.75, which is higher than the RSP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of PMJN and RSP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PMJN	RSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.75	1.70	+2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.81	0.57	+3.25

Drawdowns

PMJN vs. RSP - Drawdown Comparison

The maximum PMJN drawdown since its inception was -1.15%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for PMJN and RSP.

Drawdown Indicators

	PMJN	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-1.15%	-59.92%	+58.77%
Max Drawdown (1Y) Largest decline over 1 year	-1.15%	-7.85%	+6.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.04%	—
Current Drawdown Current decline from peak	-0.11%	-0.38%	+0.27%
Average Drawdown Average peak-to-trough decline	-0.08%	-6.65%	+6.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	2.06%	-1.89%

Volatility

PMJN vs. RSP - Volatility Comparison

The current volatility for PGIM S&P 500 Max Buffer ETF - June (PMJN) is 0.19%, while Invesco S&P 500 Equal Weight ETF (RSP) has a volatility of 2.56%. This indicates that PMJN experiences smaller price fluctuations and is considered to be less risky than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMJN	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.19%	2.56%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	1.42%	8.29%	-6.87%
Volatility (1Y) Calculated over the trailing 1-year period	1.75%	11.56%	-9.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.75%	16.18%	-14.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.75%	18.35%	-16.60%

PMJN vs. RSP - Expense Ratio Comparison

PMJN has a 0.50% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

PMJN vs. RSP - Dividend Comparison

PMJN has not paid dividends to shareholders, while RSP's dividend yield for the trailing twelve months is around 1.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMJN PGIM S&P 500 Max Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RSP Invesco S&P 500 Equal Weight ETF	1.49%	1.64%	1.52%	1.64%	1.82%	1.28%	1.64%	1.69%	2.02%	1.52%	1.20%	1.70%

Frequently Asked Questions

Can I hold both PMJN and RSP in my portfolio?

PMJN and RSP have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMJN or RSP?

RSP has higher volatility (2.56%) compared to PMJN (0.19%). In terms of maximum drawdown, PMJN dropped -1.15% vs RSP's -59.92%.

Which ETF is better, PMJN or RSP?

On 1-year performance, RSP leads with 19.50% vs 6.52% for PMJN. On fees, RSP is cheaper at 0.20% per year. On volatility, PMJN has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PMJN or RSP?

Over the 1-year period, RSP has performed better with a 19.50% return vs 6.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PMJN or RSP?

RSP is cheaper with a 0.20% expense ratio, compared with 0.50% for PMJN.

Which ETF pays a higher dividend yield, PMJN or RSP?

RSP has the higher dividend yield at 1.49%, compared with 0.00% for PMJN.

What is the main difference between PMJN and RSP?

PMJN is categorized as Defined Outcome, while RSP is S&P 500. They also come from different issuers: PGIM and Invesco. Their fees differ too: 0.50% for PMJN and 0.20% for RSP.

Which has better risk-adjusted returns?

PMJN currently has the higher Sharpe Ratio (3.75 vs 1.70), 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.