SPXT vs. PMJN
SPXT (ProShares S&P 500 Ex-Technology ETF) and PMJN (PGIM S&P 500 Max Buffer ETF - June) are both exchange-traded funds - SPXT is a S&P 500 fund tracking the S&P 500 Ex-Information Technology Index, while PMJN is a Defined Outcome fund actively managed by PGIM. SPXT is passively managed, while PMJN is actively managed. Over the past year, SPXT returned 15.02% vs 6.52% for PMJN. A 0.77 correlation means they provide meaningful diversification when combined. SPXT charges 0.09%/yr vs 0.50%/yr for PMJN.
Performance
SPXT vs. PMJN - Performance Comparison
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Returns By Period
In the year-to-date period, SPXT achieves a 2.70% return, which is significantly higher than PMJN's 2.33% return.
SPXT
- 1D
- -0.15%
- 1M
- -1.41%
- YTD
- 2.70%
- 6M
- 3.39%
- 1Y
- 15.02%
- 3Y*
- 16.34%
- 5Y*
- 9.16%
- 10Y*
- 11.34%
PMJN
- 1D
- -0.11%
- 1M
- 0.28%
- YTD
- 2.33%
- 6M
- 2.88%
- 1Y
- 6.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXT vs. PMJN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPXT ProShares S&P 500 Ex-Technology ETF | 2.70% | 12.30% |
PMJN PGIM S&P 500 Max Buffer ETF - June | 2.33% | 4.21% |
Correlation
The correlation between SPXT and PMJN is 0.77, 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 | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025 | 0.77 |
The correlation between SPXT and PMJN has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.
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Return for Risk
SPXT vs. PMJN — Risk / Return Rank
SPXT
PMJN
SPXT vs. PMJN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Technology ETF (SPXT) and PGIM S&P 500 Max Buffer ETF - June (PMJN). 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.
| SPXT | PMJN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.29 | ||
| Sortino ratioReturn per unit of downside risk | -4.09 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.97 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 5.69 | -3.78 |
| Martin ratioReturn relative to average drawdown | 8.32 | 37.72 | -29.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPXT | PMJN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 3.75 | -2.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 3.81 | -3.09 |
Drawdowns
SPXT vs. PMJN - Drawdown Comparison
The maximum SPXT drawdown since its inception was -34.38%, which is greater than PMJN's maximum drawdown of -1.15%. Use the drawdown chart below to compare losses from any high point for SPXT and PMJN.
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Drawdown Indicators
| SPXT | PMJN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.38% | -1.15% | -33.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -1.15% | -6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -15.58% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.38% | — | — |
Current DrawdownCurrent decline from peak | -2.52% | -0.11% | -2.41% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -0.08% | -4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 0.17% | +1.64% |
Volatility
SPXT vs. PMJN - Volatility Comparison
ProShares S&P 500 Ex-Technology ETF (SPXT) has a higher volatility of 2.57% compared to PGIM S&P 500 Max Buffer ETF - June (PMJN) at 0.19%. This indicates that SPXT's price experiences larger fluctuations and is considered to be riskier than PMJN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXT | PMJN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 0.19% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 7.53% | 1.42% | +6.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.34% | 1.75% | +8.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.71% | 1.75% | +12.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 1.75% | +14.48% |
SPXT vs. PMJN - Expense Ratio Comparison
SPXT has a 0.09% expense ratio, which is lower than PMJN's 0.50% expense ratio.
Dividends
SPXT vs. PMJN - Dividend Comparison
SPXT's dividend yield for the trailing twelve months is around 1.39%, while PMJN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMJN PGIM S&P 500 Max Buffer ETF - June | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXT ProShares S&P 500 Ex-Technology ETF | 1.39% | 1.38% | 1.29% | 1.53% | 1.86% | 1.15% | 1.63% | 1.63% | 2.03% | 1.55% | 2.67% | 0.56% |
Frequently Asked Questions
SPXT and PMJN have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXT has higher volatility (2.57%) compared to PMJN (0.19%). In terms of maximum drawdown, SPXT dropped -34.38% vs PMJN's -1.15%.
On 1-year performance, SPXT leads with 15.02% vs 6.52% for PMJN. On fees, SPXT is cheaper at 0.09% per year. On volatility, PMJN has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPXT has performed better with a 15.02% return vs 6.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXT is cheaper with a 0.09% expense ratio, compared with 0.50% for PMJN.
SPXT has the higher dividend yield at 1.39%, compared with 0.00% for PMJN.
SPXT is categorized as S&P 500, while PMJN is Defined Outcome. They also come from different issuers: ProShares and PGIM. Their fees differ too: 0.09% for SPXT and 0.50% for PMJN.
PMJN currently has the higher Sharpe Ratio (3.75 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.
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