PMMY vs. DIG

Last updated Aug 5, 2026

PMMY (PGIM S&P 500 Max Buffer ETF - May) and DIG (ProShares Ultra Energy) are both exchange-traded funds - PMMY is a Defined Outcome fund actively managed by PGIM, while DIG is a Leveraged Equities fund tracking the S&P Energy Select Sector Index (200% Daily). PMMY is actively managed, while DIG is passively managed. Over the past year, PMMY returned 5.35% vs 80.09% for DIG. Their -0.13 correlation means they have often moved in opposite directions in the past. PMMY charges 0.50%/yr vs 0.95%/yr for DIG.

Performance

PMMY vs. DIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - May (PMMY) and ProShares Ultra Energy (DIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMMY achieves a 2.98% return, which is significantly lower than DIG's 64.45% return.

PMMY

• 1D: 0.26%
• 1M: 0.80%
• 6M: 2.60%
• YTD: 2.98%
• 1Y: 5.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.95%

DIG

• 1D: -1.16%
• 1M: 19.58%
• 6M: 24.60%
• YTD: 64.45%
• 1Y: 80.09%
• 3Y*: 16.21%
• 5Y*: 34.13%
• 10Y*: 5.05%
• ALL TIME*: -0.10%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIG ProShares Ultra Energy	$2.36M	$2.47M	$2.39M
PMMY PGIM S&P 500 Max Buffer ETF - May	$161.04	$4.27K	$29.08K

PMMY vs. DIG - Yearly Performance Comparison

	2026 (YTD)	2025
PMMY PGIM S&P 500 Max Buffer ETF - May	2.98%	4.44%
DIG ProShares Ultra Energy	64.45%	21.77%

Correlation

The correlation between PMMY and DIG is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.19
Correlation (All Time) Calculated using the full available price history since May 1, 2025	-0.13

Return for Risk

PMMY vs. DIG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PMMY

PMMY Risk / Return Rank: 98
PMMY Sharpe Ratio Rank: 98
PMMY Sortino Ratio Rank: 98
PMMY Omega Ratio Rank: 98
PMMY Calmar Ratio Rank: 97
PMMY Martin Ratio Rank: 98

DIG

DIG Risk / Return Rank: 63
DIG Sharpe Ratio Rank: 74
DIG Sortino Ratio Rank: 62
DIG Omega Ratio Rank: 59
DIG Calmar Ratio Rank: 69
DIG Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PMMY vs. DIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - May (PMMY) and ProShares Ultra Energy (DIG). 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.

	PMMY	DIG	Difference
Sharpe ratio: Return per unit of total volatility	3.80	1.91	+1.89
Sortino ratio: Return per unit of downside risk	5.86	2.34	+3.52
Omega ratio: Gain probability vs. loss probability	1.93	1.29	+0.64
Calmar ratio: Return relative to maximum drawdown	8.99	2.70	+6.29
Martin ratio: Return relative to average drawdown	46.91	6.86	+40.05

PMMY vs. DIG - Sharpe Ratio Comparison

The current PMMY Sharpe Ratio is 3.80, which is higher than the DIG Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of PMMY and DIG, 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

PMMY vs. DIG - Drawdown Comparison

The maximum PMMY drawdown since its inception was -0.60%, smaller than the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for PMMY and DIG.

Drawdown Indicators

	PMMY	DIG	Difference
Max Drawdown Largest peak-to-trough decline	-0.60%	-97.04%	+96.44%
Max Drawdown (1Y) Largest decline over 1 year	-0.60%	-29.80%	+29.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-42.41%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-92.53%	—
Current Drawdown Current decline from peak	0.00%	-51.83%	+51.83%
Average Drawdown Average peak-to-trough decline	-0.06%	-64.27%	+64.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	11.72%	-11.61%

Volatility

PMMY vs. DIG - Volatility Comparison

The current volatility for PGIM S&P 500 Max Buffer ETF - May (PMMY) is 0.62%, while ProShares Ultra Energy (DIG) has a volatility of 12.68%. This indicates that PMMY experiences smaller price fluctuations and is considered to be less risky than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMMY	DIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	12.68%	-12.06%
Volatility (6M) Calculated over the trailing 6-month period	1.22%	33.46%	-32.24%
Volatility (1Y) Calculated over the trailing 1-year period	1.42%	42.07%	-40.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.55%	51.11%	-49.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.55%	57.79%	-56.24%

PMMY vs. DIG - Expense Ratio Comparison

PMMY has a 0.50% expense ratio, which is lower than DIG's 0.95% expense ratio.

Dividends

PMMY vs. DIG - Dividend Comparison

PMMY has not paid dividends to shareholders, while DIG's dividend yield for the trailing twelve months is around 1.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Energy	1.51%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
PMMY PGIM S&P 500 Max Buffer ETF - May	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 PMMY and DIG in my portfolio?

PMMY and DIG have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMMY or DIG?

DIG has higher volatility (12.68%) compared to PMMY (0.62%). In terms of maximum drawdown, PMMY dropped -0.60% vs DIG's -97.04%.

Which ETF is better, PMMY or DIG?

On 1-year performance, DIG leads with 80.09% vs 5.35% for PMMY. On fees, PMMY is cheaper at 0.50% per year. On volatility, PMMY has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PMMY or DIG?

Over the 1-year period, DIG has performed better with a 80.09% return vs 5.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PMMY or DIG?

PMMY is cheaper with a 0.50% expense ratio, compared with 0.95% for DIG.

Which ETF pays a higher dividend yield, PMMY or DIG?

DIG has the higher dividend yield at 1.51%, compared with 0.00% for PMMY.

What is the main difference between PMMY and DIG?

PMMY is categorized as Defined Outcome, while DIG is Leveraged Equities. They also come from different issuers: PGIM and ProShares. Their fees differ too: 0.50% for PMMY and 0.95% for DIG.

Which has better risk-adjusted returns?

PMMY currently has the higher Sharpe Ratio (3.80 vs 1.91), 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.