PQOC vs. PTRB

Last updated Jun 4, 2026

PQOC (PGIM Nasdaq-100 Buffer 12 ETF - October) and PTRB (PGIM Total Return Bond ETF) are both exchange-traded funds - PQOC is a Defined Outcome fund actively managed by PGIM, while PTRB is a Intermediate Core-Plus Bond fund actively managed by PGIM. Both are actively managed. Over the past year, PQOC returned 20.55% vs 5.81% for PTRB. At a 0.21 correlation, their price movements are largely independent. PQOC charges 0.50%/yr vs 0.49%/yr for PTRB.

Performance

PQOC vs. PTRB - 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 Total Return Bond ETF (PTRB). 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 PTRB's 0.34% return.

PQOC

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

PTRB

• 1D: -0.19%
• 1M: 0.28%
• YTD: 0.34%
• 6M: 0.41%
• 1Y: 5.81%
• 3Y*: 5.11%
• 5Y*: —
• 10Y*: —

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

PQOC vs. PTRB - Yearly Performance Comparison

	2026 (YTD)	2025
PQOC PGIM Nasdaq-100 Buffer 12 ETF - October	9.01%	14.67%
PTRB PGIM Total Return Bond ETF	0.34%	7.61%

Correlation

The correlation between PQOC and PTRB is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.21

Return for Risk

PQOC vs. PTRB — 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

PTRB

PTRB Risk / Return Rank: 40
PTRB Sharpe Ratio Rank: 41
PTRB Sortino Ratio Rank: 42
PTRB Omega Ratio Rank: 39
PTRB Calmar Ratio Rank: 41
PTRB Martin Ratio Rank: 38

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. PTRB - 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 Total Return Bond ETF (PTRB). 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	PTRB	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.46	+0.95
Sortino ratio: Return per unit of downside risk	3.31	2.13	+1.18
Omega ratio: Gain probability vs. loss probability	1.47	1.26	+0.21
Calmar ratio: Return relative to maximum drawdown	3.09	2.01	+1.08
Martin ratio: Return relative to average drawdown	14.07	6.00	+8.07
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. PTRB - Sharpe Ratio Comparison

The current PQOC Sharpe Ratio is 2.40, which is higher than the PTRB Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of PQOC and PTRB, 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	PTRB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	1.46	+0.95
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.06	+1.28

Drawdowns

PQOC vs. PTRB - Drawdown Comparison

The maximum PQOC drawdown since its inception was -13.71%, smaller than the maximum PTRB drawdown of -19.17%. Use the drawdown chart below to compare losses from any high point for PQOC and PTRB.

Drawdown Indicators

	PQOC	PTRB	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-19.17%	+5.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-2.90%	-3.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.52%	—
Current Drawdown Current decline from peak	-0.06%	-1.61%	+1.55%
Average Drawdown Average peak-to-trough decline	-1.62%	-7.64%	+6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	0.97%	+0.49%

Volatility

PQOC vs. PTRB - Volatility Comparison

The current volatility for PGIM Nasdaq-100 Buffer 12 ETF - October (PQOC) is 1.08%, while PGIM Total Return Bond ETF (PTRB) has a volatility of 1.37%. This indicates that PQOC experiences smaller price fluctuations and is considered to be less risky than PTRB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQOC	PTRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	1.37%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	6.76%	2.83%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	8.60%	4.01%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.94%	6.25%	+6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.94%	6.25%	+6.69%

PQOC vs. PTRB - Expense Ratio Comparison

PQOC has a 0.50% expense ratio, which is higher than PTRB's 0.49% expense ratio.

Dividends

PQOC vs. PTRB - Dividend Comparison

PQOC has not paid dividends to shareholders, while PTRB's dividend yield for the trailing twelve months is around 4.74%.

Position	TTM	2025	2024	2023	2022	2021
PQOC PGIM Nasdaq-100 Buffer 12 ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PTRB PGIM Total Return Bond ETF	4.74%	4.73%	5.10%	4.62%	4.07%	0.12%

Frequently Asked Questions

Can I hold both PQOC and PTRB in my portfolio?

PQOC and PTRB have a correlation of 0.25, 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 PTRB?

PTRB has higher volatility (1.37%) compared to PQOC (1.08%). In terms of maximum drawdown, PQOC dropped -13.71% vs PTRB's -19.17%.

Which ETF is better, PQOC or PTRB?

On 1-year performance, PQOC leads with 20.55% vs 5.81% for PTRB. On fees, PTRB is cheaper at 0.49% per year. On volatility, PQOC has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQOC or PTRB?

Over the 1-year period, PQOC has performed better with a 20.55% return vs 5.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQOC or PTRB?

PTRB is cheaper with a 0.49% expense ratio, compared with 0.50% for PQOC.

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

PTRB has the higher dividend yield at 4.74%, compared with 0.00% for PQOC.

What is the main difference between PQOC and PTRB?

PQOC is categorized as Defined Outcome, while PTRB is Intermediate Core-Plus Bond. Their fees differ too: 0.50% for PQOC and 0.49% for PTRB.

Which has better risk-adjusted returns?

PQOC currently has the higher Sharpe Ratio (2.40 vs 1.46), 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.