RB vs. PMJL

Last updated Jun 4, 2026

RB (ProShares Russell 2000 Dynamic Daily Buffer ETF) and PMJL (PGIM S&P 500 Max Buffer ETF - July) are both Defined Outcome funds. RB is passively managed, while PMJL is actively managed. A 0.54 correlation means they provide meaningful diversification when combined. RB charges 0.58%/yr vs 0.50%/yr for PMJL.

Performance

RB vs. PMJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dynamic Daily Buffer ETF (RB) and PGIM S&P 500 Max Buffer ETF - July (PMJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RB achieves a 6.76% return, which is significantly higher than PMJL's 2.63% return.

RB

• 1D: -0.17%
• 1M: 1.63%
• YTD: 6.76%
• 6M: 8.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMJL

• 1D: -0.02%
• 1M: 0.61%
• YTD: 2.63%
• 6M: 3.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RB vs. PMJL - Yearly Performance Comparison

	2026 (YTD)	2025
RB ProShares Russell 2000 Dynamic Daily Buffer ETF	6.76%	10.82%
PMJL PGIM S&P 500 Max Buffer ETF - July	2.63%	3.39%

Correlation

The correlation between RB and PMJL is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025	0.54

Return for Risk

RB vs. PMJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dynamic Daily Buffer ETF (RB) and PGIM S&P 500 Max Buffer ETF - July (PMJL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RB	PMJL	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.15	3.23	-0.09

Drawdowns

RB vs. PMJL - Drawdown Comparison

The maximum RB drawdown since its inception was -1.70%, which is greater than PMJL's maximum drawdown of -1.49%. Use the drawdown chart below to compare losses from any high point for RB and PMJL.

Drawdown Indicators

	RB	PMJL	Difference
Max Drawdown Largest peak-to-trough decline	-1.70%	-1.49%	-0.21%
Current Drawdown Current decline from peak	-0.47%	-0.02%	-0.45%
Average Drawdown Average peak-to-trough decline	-0.41%	-0.12%	-0.29%

Volatility

Volatility by Period

	RB	PMJL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.21%	2.06%	+4.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.21%	2.06%	+4.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.21%	2.06%	+4.15%

RB vs. PMJL - Expense Ratio Comparison

RB has a 0.58% expense ratio, which is higher than PMJL's 0.50% expense ratio.

Dividends

RB vs. PMJL - Dividend Comparison

RB's dividend yield for the trailing twelve months is around 2.00%, while PMJL has not paid dividends to shareholders.

Position	TTM	2025
PMJL PGIM S&P 500 Max Buffer ETF - July	0.00%	0.00%
RB ProShares Russell 2000 Dynamic Daily Buffer ETF	2.00%	1.78%

Frequently Asked Questions

Can I hold both RB and PMJL in my portfolio?

RB and PMJL have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RB or PMJL?

On fees, PMJL is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RB or PMJL?

PMJL is cheaper with a 0.50% expense ratio, compared with 0.58% for RB.

Which ETF pays a higher dividend yield, RB or PMJL?

RB has the higher dividend yield at 2.00%, compared with 0.00% for PMJL.

What is the main difference between RB and PMJL?

They also come from different issuers: ProShares and PGIM. Their fees differ too: 0.58% for RB and 0.50% for PMJL.