PQJL vs. PSDM

Last updated Jul 16, 2026

PQJL (PGIM Nasdaq-100 Buffer 12 ETF - July) and PSDM (PGIM Short Duration Multi-Sector Bond ETF) are both exchange-traded funds - PQJL is a Defined Outcome fund actively managed by PGIM, while PSDM is a Multisector Bonds fund actively managed by PGIM. Both are actively managed. Over the past year, PQJL returned 13.63% vs 4.84% for PSDM. At a 0.14 correlation, their price movements are largely independent. PQJL charges 0.50%/yr vs 0.40%/yr for PSDM.

Performance

PQJL vs. PSDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) 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, PQJL achieves a 6.01% return, which is significantly higher than PSDM's 1.64% return.

PQJL

• 1D: -0.27%
• 1M: -1.19%
• 6M: 5.52%
• YTD: 6.01%
• 1Y: 13.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSDM

• 1D: 0.18%
• 1M: 0.14%
• 6M: 1.51%
• YTD: 1.64%
• 1Y: 4.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PQJL vs. PSDM - Yearly Performance Comparison

	2026 (YTD)	2025
PQJL PGIM Nasdaq-100 Buffer 12 ETF - July	6.01%	16.11%
PSDM PGIM Short Duration Multi-Sector Bond ETF	1.64%	6.16%

Correlation

The correlation between PQJL and PSDM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.14

The correlation between PQJL and PSDM shifts across timeframes, from 0.14 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PQJL vs. PSDM — Risk / Return Rank

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

PQJL

PQJL Risk / Return Rank: 65
PQJL Sharpe Ratio Rank: 61
PQJL Sortino Ratio Rank: 61
PQJL Omega Ratio Rank: 67
PQJL Calmar Ratio Rank: 57
PQJL Martin Ratio Rank: 77

PSDM

PSDM Risk / Return Rank: 93
PSDM Sharpe Ratio Rank: 94
PSDM Sortino Ratio Rank: 96
PSDM Omega Ratio Rank: 95
PSDM Calmar Ratio Rank: 88
PSDM Martin Ratio Rank: 93

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.

PQJL vs. PSDM - 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 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.

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	PSDM	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.75	-1.10
Sortino ratio: Return per unit of downside risk	2.34	4.54	-2.20
Omega ratio: Gain probability vs. loss probability	1.32	1.59	-0.27
Calmar ratio: Return relative to maximum drawdown	2.35	4.09	-1.74
Martin ratio: Return relative to average drawdown	11.68	18.39	-6.71

PQJL vs. PSDM - Sharpe Ratio Comparison

The current PQJL Sharpe Ratio is 1.65, which is lower than the PSDM Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of PQJL and PSDM, 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

PQJL vs. PSDM - Drawdown Comparison

The maximum PQJL drawdown since its inception was -12.32%, which is greater than PSDM's maximum drawdown of -1.19%. Use the drawdown chart below to compare losses from any high point for PQJL and PSDM.

Drawdown Indicators

	PQJL	PSDM	Difference
Max Drawdown Largest peak-to-trough decline	-12.32%	-1.19%	-11.13%
Max Drawdown (1Y) Largest decline over 1 year	-5.83%	-1.19%	-4.64%
Current Drawdown Current decline from peak	-1.44%	0.00%	-1.44%
Average Drawdown Average peak-to-trough decline	-1.25%	-0.17%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	0.26%	+0.91%

Volatility

PQJL vs. PSDM - Volatility Comparison

PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) has a higher volatility of 3.00% compared to PGIM Short Duration Multi-Sector Bond ETF (PSDM) at 0.56%. This indicates that PQJL's price experiences larger fluctuations and is considered to be riskier than PSDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQJL	PSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	0.56%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	6.66%	1.39%	+5.27%
Volatility (1Y) Calculated over the trailing 1-year period	8.31%	1.77%	+6.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.69%	2.00%	+9.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.69%	2.00%	+9.69%

PQJL vs. PSDM - Expense Ratio Comparison

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

Dividends

PQJL vs. PSDM - Dividend Comparison

PQJL's dividend yield for the trailing twelve months is around 0.01%, less than PSDM's 4.83% yield.

Position	TTM	2025	2024	2023
PQJL PGIM Nasdaq-100 Buffer 12 ETF - July	0.01%	0.01%	0.00%	0.00%
PSDM PGIM Short Duration Multi-Sector Bond ETF	4.83%	4.57%	5.17%	2.91%

Frequently Asked Questions

Can I hold both PQJL and PSDM in my portfolio?

PQJL and PSDM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQJL or PSDM?

PQJL has higher volatility (3.00%) compared to PSDM (0.56%). In terms of maximum drawdown, PQJL dropped -12.32% vs PSDM's -1.19%.

Which ETF is better, PQJL or PSDM?

On 1-year performance, PQJL leads with 13.63% vs 4.84% for PSDM. On fees, PSDM is cheaper at 0.40% per year. On volatility, PSDM has been the lower-risk option at 0.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQJL or PSDM?

Over the 1-year period, PQJL has performed better with a 13.63% return vs 4.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQJL or PSDM?

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

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

PSDM has the higher dividend yield at 4.83%, compared with 0.01% for PQJL.

What is the main difference between PQJL and PSDM?

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

Which has better risk-adjusted returns?

PSDM currently has the higher Sharpe Ratio (2.75 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.