PMNV vs. JULB

Last updated Aug 5, 2026

PMNV (PGIM S&P 500 Max Buffer ETF - November) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.87 means they have usually moved in the same direction. PMNV charges 0.50%/yr vs 0.25%/yr for JULB.

Performance

PMNV vs. JULB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - November (PMNV) and Aptus July Buffer ETF (JULB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMNV achieves a 4.18% return, which is significantly lower than JULB's 9.75% return.

PMNV

• 1D: 0.20%
• 1M: 1.02%
• 6M: 3.77%
• YTD: 4.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

JULB

• 1D: 0.89%
• 1M: 2.13%
• 6M: 8.93%
• YTD: 9.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
JULB Aptus July Buffer ETF	$150.89K	$164.82K	$229.85K
PMNV PGIM S&P 500 Max Buffer ETF - November	$156.33	$165.66	$6.27K

PMNV vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
PMNV PGIM S&P 500 Max Buffer ETF - November	4.18%	0.42%
JULB Aptus July Buffer ETF	9.75%	1.10%

Correlation

The correlation between PMNV and JULB is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 3, 2025	0.87

Return for Risk

PMNV vs. JULB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - November (PMNV) and Aptus July Buffer ETF (JULB). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

PMNV vs. JULB - Drawdown Comparison

The maximum PMNV drawdown since its inception was -1.65%, smaller than the maximum JULB drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for PMNV and JULB.

Drawdown Indicators

	PMNV	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-1.65%	-5.24%	+3.59%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.21%	-0.77%	+0.56%

Volatility

Volatility by Period

	PMNV	JULB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.60%	6.88%	-4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.60%	6.88%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	6.88%	-4.28%

PMNV vs. JULB - Expense Ratio Comparison

PMNV has a 0.50% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

PMNV vs. JULB - Dividend Comparison

Neither PMNV nor JULB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMNV and JULB in my portfolio?

PMNV and JULB have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMNV or JULB?

On fees, JULB 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, PMNV or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.50% for PMNV.

Which ETF pays a higher dividend yield, PMNV or JULB?

PMNV and JULB have nearly identical dividend yields, around 0.00%.

What is the main difference between PMNV and JULB?

They also come from different issuers: PGIM and Aptus. Their fees differ too: 0.50% for PMNV and 0.25% for JULB.