PMSE vs. PSDM

Last updated Jun 5, 2026

PMSE (PGIM S&P 500 Max Buffer ETF - September) and PSDM (PGIM Short Duration Multi-Sector Bond ETF) are both exchange-traded funds - PMSE is a Defined Outcome fund actively managed by PGIM, while PSDM is a Multisector Bonds fund actively managed by PGIM. Both are actively managed. At a 0.36 correlation, their price movements are largely independent. PMSE charges 0.50%/yr vs 0.40%/yr for PSDM.

Performance

PMSE vs. PSDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Max Buffer ETF - September (PMSE) and PGIM Short Duration Multi-Sector Bond ETF (PSDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMSE achieves a 2.86% return, which is significantly higher than PSDM's 1.29% return.

PMSE

• 1D: 0.02%
• 1M: 0.82%
• YTD: 2.86%
• 6M: 3.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSDM

• 1D: 0.06%
• 1M: 0.20%
• YTD: 1.29%
• 6M: 1.72%
• 1Y: 5.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMSE vs. PSDM - Yearly Performance Comparison

	2026 (YTD)	2025
PMSE PGIM S&P 500 Max Buffer ETF - September	2.86%	2.23%
PSDM PGIM Short Duration Multi-Sector Bond ETF	1.29%	1.79%

Correlation

The correlation between PMSE and PSDM is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 3, 2025	0.36

Return for Risk

PMSE vs. PSDM — Risk / Return Rank

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

PSDM

PSDM Risk / Return Rank: 89
PSDM Sharpe Ratio Rank: 88
PSDM Sortino Ratio Rank: 94
PSDM Omega Ratio Rank: 93
PSDM Calmar Ratio Rank: 82
PSDM Martin Ratio Rank: 88

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.

PMSE vs. PSDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Max Buffer ETF - September (PMSE) and PGIM Short Duration Multi-Sector Bond ETF (PSDM). 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

	PMSE	PSDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.05	2.98	+0.07

Drawdowns

PMSE vs. PSDM - Drawdown Comparison

The maximum PMSE drawdown since its inception was -1.44%, which is greater than PSDM's maximum drawdown of -1.19%. Use the drawdown chart below to compare losses from any high point for PMSE and PSDM.

Drawdown Indicators

	PMSE	PSDM	Difference
Max Drawdown Largest peak-to-trough decline	-1.44%	-1.19%	-0.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.19%	—
Current Drawdown Current decline from peak	-0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.17%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.26%	—

Volatility

Volatility by Period

	PMSE	PSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.27%	1.75%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.27%	2.00%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.27%	2.00%	+0.27%

PMSE vs. PSDM - Expense Ratio Comparison

PMSE has a 0.50% expense ratio, which is higher than PSDM's 0.40% expense ratio.

Dividends

PMSE vs. PSDM - Dividend Comparison

PMSE has not paid dividends to shareholders, while PSDM's dividend yield for the trailing twelve months is around 4.84%.

Position	TTM	2025	2024	2023
PMSE PGIM S&P 500 Max Buffer ETF - September	0.00%	0.00%	0.00%	0.00%
PSDM PGIM Short Duration Multi-Sector Bond ETF	4.84%	4.57%	5.17%	2.91%

Frequently Asked Questions

Can I hold both PMSE and PSDM in my portfolio?

PMSE and PSDM have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMSE or PSDM?

On fees, PSDM is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMSE or PSDM?

PSDM is cheaper with a 0.40% expense ratio, compared with 0.50% for PMSE.

Which ETF pays a higher dividend yield, PMSE or PSDM?

PSDM has the higher dividend yield at 4.84%, compared with 0.00% for PMSE.

What is the main difference between PMSE and PSDM?

PMSE is categorized as Defined Outcome, while PSDM is Multisector Bonds. Their fees differ too: 0.50% for PMSE and 0.40% for PSDM.