PMNV vs. OCTB

Last updated Jun 4, 2026

PMNV (PGIM S&P 500 Max Buffer ETF - November) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.88 suggests significant overlap in exposure. PMNV charges 0.50%/yr vs 0.25%/yr for OCTB.

Performance

PMNV vs. OCTB - 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 October Buffer ETF (OCTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMNV achieves a 2.91% return, which is significantly lower than OCTB's 6.18% return.

PMNV

• 1D: -0.05%
• 1M: 1.01%
• YTD: 2.91%
• 6M: 3.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTB

• 1D: -0.17%
• 1M: 2.41%
• YTD: 6.18%
• 6M: 6.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMNV vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
PMNV PGIM S&P 500 Max Buffer ETF - November	2.91%	0.54%
OCTB Aptus October Buffer ETF	6.18%	0.89%

Correlation

The correlation between PMNV and OCTB is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 4, 2025	0.88

Return for Risk

PMNV vs. OCTB - 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 October Buffer ETF (OCTB). 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.

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

Sharpe Ratios by Period

	PMNV	OCTB	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.32	1.97	+0.35

Drawdowns

PMNV vs. OCTB - Drawdown Comparison

The maximum PMNV drawdown since its inception was -1.65%, smaller than the maximum OCTB drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for PMNV and OCTB.

Drawdown Indicators

	PMNV	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-1.65%	-4.79%	+3.14%
Current Drawdown Current decline from peak	-0.05%	-0.17%	+0.12%
Average Drawdown Average peak-to-trough decline	-0.23%	-0.70%	+0.47%

Volatility

Volatility by Period

	PMNV	OCTB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.64%	7.20%	-4.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.64%	7.20%	-4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.64%	7.20%	-4.56%

PMNV vs. OCTB - Expense Ratio Comparison

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

Dividends

PMNV vs. OCTB - Dividend Comparison

Neither PMNV nor OCTB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PMNV and OCTB in my portfolio?

PMNV and OCTB have a correlation of 0.88, 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 OCTB?

On fees, OCTB 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 OCTB?

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

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

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

What is the main difference between PMNV and OCTB?

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