SIXJ vs. PBAP

Last updated Jun 4, 2026

SIXJ (AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF) and PBAP (PGIM US Large-Cap Buffer 20 ETF - April) are both Options Trading funds. SIXJ is passively managed, while PBAP is actively managed. Over the past year, SIXJ returned 16.93% vs 13.30% for PBAP. Their correlation of 0.87 suggests significant overlap in exposure. SIXJ charges 0.74%/yr vs 0.50%/yr for PBAP.

Performance

SIXJ vs. PBAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) and PGIM US Large-Cap Buffer 20 ETF - April (PBAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXJ achieves a 5.77% return, which is significantly lower than PBAP's 6.70% return.

SIXJ

• 1D: -0.00%
• 1M: 2.04%
• YTD: 5.77%
• 6M: 6.85%
• 1Y: 16.93%
• 3Y*: 13.88%
• 5Y*: —
• 10Y*: —

PBAP

• 1D: -0.13%
• 1M: 1.19%
• YTD: 6.70%
• 6M: 7.49%
• 1Y: 13.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIXJ vs. PBAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIXJ AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF	5.77%	12.81%	9.66%
PBAP PGIM US Large-Cap Buffer 20 ETF - April	6.70%	6.34%	8.88%

Correlation

The correlation between SIXJ and PBAP is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.87

The correlation between SIXJ and PBAP has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

Return for Risk

SIXJ vs. PBAP — Risk / Return Rank

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

SIXJ

SIXJ Risk / Return Rank: 87
SIXJ Sharpe Ratio Rank: 87
SIXJ Sortino Ratio Rank: 91
SIXJ Omega Ratio Rank: 92
SIXJ Calmar Ratio Rank: 75
SIXJ Martin Ratio Rank: 90

PBAP

PBAP Risk / Return Rank: 98
PBAP Sharpe Ratio Rank: 96
PBAP Sortino Ratio Rank: 98
PBAP Omega Ratio Rank: 98
PBAP Calmar Ratio Rank: 97
PBAP 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.

SIXJ vs. PBAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) and PGIM US Large-Cap Buffer 20 ETF - April (PBAP). 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.

	SIXJ	PBAP	Difference
Sharpe ratio: Return per unit of total volatility	2.91	4.29	-1.38
Sortino ratio: Return per unit of downside risk	4.27	7.35	-3.08
Omega ratio: Gain probability vs. loss probability	1.61	2.15	-0.54
Calmar ratio: Return relative to maximum drawdown	3.75	11.41	-7.66
Martin ratio: Return relative to average drawdown	20.41	82.09	-61.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXJ vs. PBAP - Sharpe Ratio Comparison

The current SIXJ Sharpe Ratio is 2.91, which is lower than the PBAP Sharpe Ratio of 4.29. The chart below compares the historical Sharpe Ratios of SIXJ and PBAP, 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

	SIXJ	PBAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.91	4.29	-1.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.45	-0.58

Drawdowns

SIXJ vs. PBAP - Drawdown Comparison

The maximum SIXJ drawdown since its inception was -14.07%, which is greater than PBAP's maximum drawdown of -9.70%. Use the drawdown chart below to compare losses from any high point for SIXJ and PBAP.

Drawdown Indicators

	SIXJ	PBAP	Difference
Max Drawdown Largest peak-to-trough decline	-14.07%	-9.70%	-4.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.53%	-1.17%	-3.36%
Max Drawdown (3Y) Largest decline over 3 years	-10.89%	—	—
Current Drawdown Current decline from peak	-0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-2.87%	-0.79%	-2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.16%	+0.67%

Volatility

SIXJ vs. PBAP - Volatility Comparison

AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) has a higher volatility of 0.75% compared to PGIM US Large-Cap Buffer 20 ETF - April (PBAP) at 0.59%. This indicates that SIXJ's price experiences larger fluctuations and is considered to be riskier than PBAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXJ	PBAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.59%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	4.60%	2.00%	+2.60%
Volatility (1Y) Calculated over the trailing 1-year period	5.84%	3.12%	+2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.02%	7.10%	+2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.02%	7.10%	+2.92%

SIXJ vs. PBAP - Expense Ratio Comparison

SIXJ has a 0.74% expense ratio, which is higher than PBAP's 0.50% expense ratio.

Dividends

SIXJ vs. PBAP - Dividend Comparison

Neither SIXJ nor PBAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SIXJ and PBAP in my portfolio?

SIXJ and PBAP have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXJ or PBAP?

SIXJ has higher volatility (0.75%) compared to PBAP (0.59%). In terms of maximum drawdown, SIXJ dropped -14.07% vs PBAP's -9.70%.

Which ETF is better, SIXJ or PBAP?

On 1-year performance, SIXJ leads with 16.93% vs 13.30% for PBAP. On fees, PBAP is cheaper at 0.50% per year. On volatility, PBAP has been the lower-risk option at 0.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXJ or PBAP?

Over the 1-year period, SIXJ has performed better with a 16.93% return vs 13.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXJ or PBAP?

PBAP is cheaper with a 0.50% expense ratio, compared with 0.74% for SIXJ.

Which ETF pays a higher dividend yield, SIXJ or PBAP?

SIXJ and PBAP have nearly identical dividend yields, around 0.00%.

What is the main difference between SIXJ and PBAP?

They also come from different issuers: Allianz and PGIM. Their fees differ too: 0.74% for SIXJ and 0.50% for PBAP.

Which has better risk-adjusted returns?

PBAP currently has the higher Sharpe Ratio (4.29 vs 2.91), 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.