PQOC vs. PMMY
PQOC (PGIM Nasdaq-100 Buffer 12 ETF - October) and PMMY (PGIM S&P 500 Max Buffer ETF - May) are both Defined Outcome funds from PGIM. Both are actively managed. Over the past year, PQOC returned 20.56% vs 5.57% for PMMY. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
PQOC vs. PMMY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PQOC achieves a 9.01% return, which is significantly higher than PMMY's 2.04% return.
PQOC
- 1D
- -0.06%
- 1M
- 0.78%
- YTD
- 9.01%
- 6M
- 8.83%
- 1Y
- 20.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMMY
- 1D
- -0.06%
- 1M
- 0.06%
- YTD
- 2.04%
- 6M
- 2.16%
- 1Y
- 5.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PQOC vs. PMMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PQOC PGIM Nasdaq-100 Buffer 12 ETF - October | 9.01% | 17.61% |
PMMY PGIM S&P 500 Max Buffer ETF - May | 2.04% | 4.44% |
Correlation
The correlation between PQOC and PMMY is 0.77, 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 | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.73 |
The correlation between PQOC and PMMY has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PQOC vs. PMMY — Risk / Return Rank
PQOC
PMMY
PQOC vs. PMMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Nasdaq-100 Buffer 12 ETF - October (PQOC) and PGIM S&P 500 Max Buffer ETF - May (PMMY). 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.
| PQOC | PMMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 2.13 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 9.37 | -6.28 |
| Martin ratioReturn relative to average drawdown | 13.95 | 60.97 | -47.02 |
Loading charts...
Drawdowns
PQOC vs. PMMY - Drawdown Comparison
The maximum PQOC drawdown since its inception was -13.71%, which is greater than PMMY's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for PQOC and PMMY.
Loading charts...
Drawdown Indicators
| PQOC | PMMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.71% | -0.60% | -13.11% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -0.60% | -6.08% |
Current DrawdownCurrent decline from peak | -0.16% | -0.21% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -1.58% | -0.05% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.48% | 0.09% | +1.39% |
Volatility
PQOC vs. PMMY - Volatility Comparison
PGIM Nasdaq-100 Buffer 12 ETF - October (PQOC) has a higher volatility of 2.46% compared to PGIM S&P 500 Max Buffer ETF - May (PMMY) at 0.68%. This indicates that PQOC's price experiences larger fluctuations and is considered to be riskier than PMMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PQOC | PMMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.46% | 0.68% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 1.08% | +5.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.78% | 1.29% | +7.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.86% | 1.50% | +11.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.86% | 1.50% | +11.36% |
PQOC vs. PMMY - Expense Ratio Comparison
Both PQOC and PMMY have an expense ratio of 0.50%.
Dividends
PQOC vs. PMMY - Dividend Comparison
Neither PQOC nor PMMY has paid dividends to shareholders.
Frequently Asked Questions
PQOC and PMMY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PQOC has higher volatility (2.46%) compared to PMMY (0.68%). In terms of maximum drawdown, PQOC dropped -13.71% vs PMMY's -0.60%.
On 1-year performance, PQOC leads with 20.56% vs 5.57% for PMMY. Both ETFs have the same 0.50% expense ratio. On volatility, PMMY has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PQOC has performed better with a 20.56% return vs 5.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PQOC and PMMY have the same expense ratio: 0.50% per year.
PQOC and PMMY have nearly identical dividend yields, around 0.00%.
PMMY currently has the higher Sharpe Ratio (4.35 vs 2.36), 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.
Find the right allocation for PQOC and PMMY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer