PQOC vs. PSDM

Last updated Jun 4, 2026

PQOC (PGIM Nasdaq-100 Buffer 12 ETF - October) and PSDM (PGIM Short Duration Multi-Sector Bond ETF) are both exchange-traded funds - PQOC 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, PQOC returned 20.55% vs 5.16% for PSDM. At a 0.12 correlation, their price movements are largely independent. PQOC charges 0.50%/yr vs 0.40%/yr for PSDM.

Performance

PQOC vs. PSDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Nasdaq-100 Buffer 12 ETF - October (PQOC) 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, PQOC achieves a 9.01% return, which is significantly higher than PSDM's 1.23% return.

PQOC

• 1D: -0.05%
• 1M: 3.09%
• YTD: 9.01%
• 6M: 9.17%
• 1Y: 20.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSDM

• 1D: -0.10%
• 1M: 0.20%
• YTD: 1.23%
• 6M: 1.61%
• 1Y: 5.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PQOC vs. PSDM - Yearly Performance Comparison

	2026 (YTD)	2025
PQOC PGIM Nasdaq-100 Buffer 12 ETF - October	9.01%	14.67%
PSDM PGIM Short Duration Multi-Sector Bond ETF	1.23%	6.19%

Correlation

The correlation between PQOC 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 3, 2025	0.12

The correlation between PQOC and PSDM shifts across timeframes, from 0.12 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PQOC vs. PSDM — Risk / Return Rank

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

PQOC

PQOC Risk / Return Rank: 73
PQOC Sharpe Ratio Rank: 75
PQOC Sortino Ratio Rank: 75
PQOC Omega Ratio Rank: 79
PQOC Calmar Ratio Rank: 63
PQOC Martin Ratio Rank: 75

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.

PQOC vs. PSDM - 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 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.

	PQOC	PSDM	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.96	-0.56
Sortino ratio: Return per unit of downside risk	3.31	5.06	-1.74
Omega ratio: Gain probability vs. loss probability	1.47	1.64	-0.18
Calmar ratio: Return relative to maximum drawdown	3.09	4.35	-1.26
Martin ratio: Return relative to average drawdown	14.07	19.69	-5.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQOC vs. PSDM - Sharpe Ratio Comparison

The current PQOC Sharpe Ratio is 2.40, which is comparable to the PSDM Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of PQOC 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.

Sharpe Ratios by Period

	PQOC	PSDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.96	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	2.97	-1.64

Drawdowns

PQOC vs. PSDM - Drawdown Comparison

The maximum PQOC drawdown since its inception was -13.71%, which is greater than PSDM's maximum drawdown of -1.19%. Use the drawdown chart below to compare losses from any high point for PQOC and PSDM.

Drawdown Indicators

	PQOC	PSDM	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-1.19%	-12.52%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-1.19%	-5.49%
Current Drawdown Current decline from peak	-0.06%	-0.16%	+0.10%
Average Drawdown Average peak-to-trough decline	-1.62%	-0.17%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	0.26%	+1.20%

Volatility

PQOC vs. PSDM - Volatility Comparison

PGIM Nasdaq-100 Buffer 12 ETF - October (PQOC) has a higher volatility of 1.08% compared to PGIM Short Duration Multi-Sector Bond ETF (PSDM) at 0.53%. This indicates that PQOC'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

	PQOC	PSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	0.53%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	6.76%	1.28%	+5.48%
Volatility (1Y) Calculated over the trailing 1-year period	8.60%	1.75%	+6.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.94%	2.01%	+10.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.94%	2.01%	+10.93%

PQOC vs. PSDM - Expense Ratio Comparison

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

Dividends

PQOC vs. PSDM - Dividend Comparison

PQOC has not paid dividends to shareholders, while PSDM's dividend yield for the trailing twelve months is around 4.85%.

Position	TTM	2025	2024	2023
PQOC PGIM Nasdaq-100 Buffer 12 ETF - October	0.00%	0.00%	0.00%	0.00%
PSDM PGIM Short Duration Multi-Sector Bond ETF	4.85%	4.57%	5.17%	2.91%

Frequently Asked Questions

Can I hold both PQOC and PSDM in my portfolio?

PQOC 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, PQOC or PSDM?

PQOC has higher volatility (1.08%) compared to PSDM (0.53%). In terms of maximum drawdown, PQOC dropped -13.71% vs PSDM's -1.19%.

Which ETF is better, PQOC or PSDM?

On 1-year performance, PQOC leads with 20.55% vs 5.16% for PSDM. On fees, PSDM is cheaper at 0.40% per year. On volatility, PSDM has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQOC or PSDM?

Over the 1-year period, PQOC has performed better with a 20.55% return vs 5.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQOC or PSDM?

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

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

PSDM has the higher dividend yield at 4.85%, compared with 0.00% for PQOC.

What is the main difference between PQOC and PSDM?

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

Which has better risk-adjusted returns?

PSDM currently has the higher Sharpe Ratio (2.96 vs 2.40), 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.