PQJL vs. PMAP
PQJL (PGIM Nasdaq-100 Buffer 12 ETF - July) and PMAP (PGIM S&P 500 Max Buffer ETF - April) are both Defined Outcome funds from PGIM. Both are actively managed. Over the past year, PQJL returned 13.63% vs 6.79% for PMAP. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
PQJL vs. PMAP - Performance Comparison
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Returns By Period
In the year-to-date period, PQJL achieves a 6.01% return, which is significantly higher than PMAP's 3.73% return.
PQJL
- 1D
- -0.27%
- 1M
- -1.19%
- 6M
- 5.52%
- YTD
- 6.01%
- 1Y
- 13.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMAP
- 1D
- 0.07%
- 1M
- 0.33%
- 6M
- 3.54%
- YTD
- 3.73%
- 1Y
- 6.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PQJL vs. PMAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PQJL PGIM Nasdaq-100 Buffer 12 ETF - July | 6.01% | 19.27% |
PMAP PGIM S&P 500 Max Buffer ETF - April | 3.73% | 5.29% |
Correlation
The correlation between PQJL and PMAP is 0.75, 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 | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025 | 0.76 |
The correlation between PQJL and PMAP has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.
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Return for Risk
PQJL vs. PMAP — Risk / Return Rank
PQJL
PMAP
PQJL vs. PMAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) and PGIM S&P 500 Max Buffer ETF - April (PMAP). 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.
| PQJL | PMAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.29 | ||
| Sortino ratioReturn per unit of downside risk | -9.51 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 2.70 | -1.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 19.56 | -17.21 |
| Martin ratioReturn relative to average drawdown | 11.68 | 96.58 | -84.90 |
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Drawdowns
PQJL vs. PMAP - Drawdown Comparison
The maximum PQJL drawdown since its inception was -12.32%, which is greater than PMAP's maximum drawdown of -1.75%. Use the drawdown chart below to compare losses from any high point for PQJL and PMAP.
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Drawdown Indicators
| PQJL | PMAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.32% | -1.75% | -10.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.83% | -0.35% | -5.48% |
Current DrawdownCurrent decline from peak | -1.44% | 0.00% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -0.08% | -1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.07% | +1.10% |
Volatility
PQJL vs. PMAP - Volatility Comparison
PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) has a higher volatility of 3.00% compared to PGIM S&P 500 Max Buffer ETF - April (PMAP) at 0.33%. This indicates that PQJL's price experiences larger fluctuations and is considered to be riskier than PMAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PQJL | PMAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 0.33% | +2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 6.66% | 0.90% | +5.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.31% | 1.16% | +7.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.69% | 2.26% | +9.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.69% | 2.26% | +9.43% |
PQJL vs. PMAP - Expense Ratio Comparison
Both PQJL and PMAP have an expense ratio of 0.50%.
Dividends
PQJL vs. PMAP - Dividend Comparison
PQJL's dividend yield for the trailing twelve months is around 0.01%, while PMAP has not paid dividends to shareholders.
Frequently Asked Questions
PQJL and PMAP have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PQJL has higher volatility (3.00%) compared to PMAP (0.33%). In terms of maximum drawdown, PQJL dropped -12.32% vs PMAP's -1.75%.
On 1-year performance, PQJL leads with 13.63% vs 6.79% for PMAP. Both ETFs have the same 0.50% expense ratio. On volatility, PMAP has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PQJL has performed better with a 13.63% return vs 6.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PQJL and PMAP have the same expense ratio: 0.50% per year.
PQJL has the higher dividend yield at 0.01%, compared with 0.00% for PMAP.
PMAP currently has the higher Sharpe Ratio (5.93 vs 1.65), 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.
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