PSMD vs. PMMY

Last updated Jul 14, 2026

PSMD (Pacer Swan SOS Moderate (December) ETF) and PMMY (PGIM S&P 500 Max Buffer ETF - May) are both Defined Outcome funds. Both are actively managed. Over the past year, PSMD returned 12.56% vs 5.12% for PMMY. A 0.75 correlation means they provide meaningful diversification when combined. PSMD charges 0.75%/yr vs 0.50%/yr for PMMY.

Performance

PSMD vs. PMMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Moderate (December) ETF (PSMD) and PGIM S&P 500 Max Buffer ETF - May (PMMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSMD achieves a 5.98% return, which is significantly higher than PMMY's 2.33% return.

PSMD

• 1D: -0.28%
• 1M: 0.95%
• 6M: 4.94%
• YTD: 5.98%
• 1Y: 12.56%
• 3Y*: 11.84%
• 5Y*: 9.18%
• 10Y*: —

PMMY

• 1D: -0.07%
• 1M: 0.30%
• 6M: 2.12%
• YTD: 2.33%
• 1Y: 5.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSMD vs. PMMY - Yearly Performance Comparison

	2026 (YTD)	2025
PSMD Pacer Swan SOS Moderate (December) ETF	5.98%	13.49%
PMMY PGIM S&P 500 Max Buffer ETF - May	2.33%	4.44%

Correlation

The correlation between PSMD and PMMY is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.75

The correlation between PSMD and PMMY has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

Return for Risk

PSMD vs. PMMY — Risk / Return Rank

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

PSMD

PSMD Risk / Return Rank: 85
PSMD Sharpe Ratio Rank: 86
PSMD Sortino Ratio Rank: 89
PSMD Omega Ratio Rank: 90
PSMD Calmar Ratio Rank: 71
PSMD Martin Ratio Rank: 88

PMMY

PMMY Risk / Return Rank: 98
PMMY Sharpe Ratio Rank: 97
PMMY Sortino Ratio Rank: 98
PMMY Omega Ratio Rank: 98
PMMY Calmar Ratio Rank: 97
PMMY Martin Ratio Rank: 98

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.

PSMD vs. PMMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (December) ETF (PSMD) 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.

	PSMD	PMMY	Difference
Sharpe ratio: Return per unit of total volatility	2.19	3.93	-1.73
Sortino ratio: Return per unit of downside risk	3.26	6.09	-2.83
Omega ratio: Gain probability vs. loss probability	1.45	1.98	-0.54
Calmar ratio: Return relative to maximum drawdown	2.85	8.60	-5.75
Martin ratio: Return relative to average drawdown	14.78	48.81	-34.03

PSMD vs. PMMY - Sharpe Ratio Comparison

The current PSMD Sharpe Ratio is 2.19, which is lower than the PMMY Sharpe Ratio of 3.93. The chart below compares the historical Sharpe Ratios of PSMD and PMMY, 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

PSMD vs. PMMY - Drawdown Comparison

The maximum PSMD drawdown since its inception was -11.96%, which is greater than PMMY's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for PSMD and PMMY.

Drawdown Indicators

	PSMD	PMMY	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-0.60%	-11.36%
Max Drawdown (1Y) Largest decline over 1 year	-4.42%	-0.60%	-3.82%
Max Drawdown (3Y) Largest decline over 3 years	-10.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.07%	-0.21%
Average Drawdown Average peak-to-trough decline	-1.64%	-0.05%	-1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.11%	+0.74%

Volatility

PSMD vs. PMMY - Volatility Comparison

Pacer Swan SOS Moderate (December) ETF (PSMD) has a higher volatility of 1.95% compared to PGIM S&P 500 Max Buffer ETF - May (PMMY) at 0.62%. This indicates that PSMD'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.

Volatility by Period

	PSMD	PMMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	0.62%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	4.90%	1.13%	+3.77%
Volatility (1Y) Calculated over the trailing 1-year period	5.76%	1.31%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.64%	1.51%	+7.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.44%	1.51%	+6.93%

PSMD vs. PMMY - Expense Ratio Comparison

PSMD has a 0.75% expense ratio, which is higher than PMMY's 0.50% expense ratio.

Dividends

PSMD vs. PMMY - Dividend Comparison

Neither PSMD nor PMMY has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
PMMY PGIM S&P 500 Max Buffer ETF - May	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSMD Pacer Swan SOS Moderate (December) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.47%

Frequently Asked Questions

Can I hold both PSMD and PMMY in my portfolio?

PSMD and PMMY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMD or PMMY?

PSMD has higher volatility (1.95%) compared to PMMY (0.62%). In terms of maximum drawdown, PSMD dropped -11.96% vs PMMY's -0.60%.

Which ETF is better, PSMD or PMMY?

On 1-year performance, PSMD leads with 12.56% vs 5.12% for PMMY. On fees, PMMY is cheaper at 0.50% per year. On volatility, PMMY has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSMD or PMMY?

Over the 1-year period, PSMD has performed better with a 12.56% return vs 5.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSMD or PMMY?

PMMY is cheaper with a 0.50% expense ratio, compared with 0.75% for PSMD.

Which ETF pays a higher dividend yield, PSMD or PMMY?

PSMD and PMMY have nearly identical dividend yields, around 0.00%.

What is the main difference between PSMD and PMMY?

They also come from different issuers: Pacer and PGIM. Their fees differ too: 0.75% for PSMD and 0.50% for PMMY.

Which has better risk-adjusted returns?

PMMY currently has the higher Sharpe Ratio (3.93 vs 2.19), 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.