SPYX vs. PMMY
SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) and PMMY (PGIM S&P 500 Max Buffer ETF - May) are both exchange-traded funds - SPYX is a S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index, while PMMY is a Defined Outcome fund actively managed by PGIM. SPYX is passively managed, while PMMY is actively managed. Over the past year, SPYX returned 27.01% vs 5.98% for PMMY. A 0.79 correlation means they provide meaningful diversification when combined. SPYX charges 0.20%/yr vs 0.50%/yr for PMMY.
Performance
SPYX vs. PMMY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPYX achieves a 10.04% return, which is significantly higher than PMMY's 2.19% return.
SPYX
- 1D
- -0.77%
- 1M
- 5.02%
- YTD
- 10.04%
- 6M
- 10.06%
- 1Y
- 27.01%
- 3Y*
- 22.32%
- 5Y*
- 13.41%
- 10Y*
- 15.55%
PMMY
- 1D
- -0.04%
- 1M
- 0.79%
- YTD
- 2.19%
- 6M
- 2.74%
- 1Y
- 5.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYX vs. PMMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF | 10.04% | 23.40% |
PMMY PGIM S&P 500 Max Buffer ETF - May | 2.19% | 4.59% |
Correlation
The correlation between SPYX and PMMY is 0.81, 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 | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 2, 2025 | 0.79 |
The correlation between SPYX and PMMY has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPYX vs. PMMY — Risk / Return Rank
SPYX
PMMY
SPYX vs. PMMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) 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.
| SPYX | PMMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.11 | ||
| Sortino ratioReturn per unit of downside risk | -5.93 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 2.45 | -1.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 16.90 | -14.14 |
| Martin ratioReturn relative to average drawdown | 12.68 | 89.69 | -77.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPYX | PMMY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 5.35 | -3.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 4.56 | -3.73 |
Drawdowns
SPYX vs. PMMY - Drawdown Comparison
The maximum SPYX drawdown since its inception was -32.84%, which is greater than PMMY's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for SPYX and PMMY.
Loading charts...
Drawdown Indicators
| SPYX | PMMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.84% | -0.36% | -32.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.84% | -0.36% | -9.48% |
Max Drawdown (3Y)Largest decline over 3 years | -18.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.84% | — | — |
Current DrawdownCurrent decline from peak | -0.77% | -0.04% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -4.53% | -0.04% | -4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 0.07% | +2.07% |
Volatility
SPYX vs. PMMY - Volatility Comparison
State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) has a higher volatility of 3.00% compared to PGIM S&P 500 Max Buffer ETF - May (PMMY) at 0.36%. This indicates that SPYX'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.
Loading charts...
Volatility by Period
| SPYX | PMMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 0.36% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 9.23% | 0.87% | +8.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.12% | 1.12% | +11.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.05% | 1.39% | +15.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.01% | 1.39% | +16.62% |
SPYX vs. PMMY - Expense Ratio Comparison
SPYX has a 0.20% expense ratio, which is lower than PMMY's 0.50% expense ratio.
Dividends
SPYX vs. PMMY - Dividend Comparison
SPYX's dividend yield for the trailing twelve months is around 0.84%, while PMMY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMMY PGIM S&P 500 Max Buffer ETF - May | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF | 0.84% | 0.91% | 1.05% | 1.21% | 1.41% | 1.04% | 1.33% | 1.56% | 1.92% | 1.68% | 1.91% | 0.16% |
Frequently Asked Questions
SPYX and PMMY have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYX has higher volatility (3.00%) compared to PMMY (0.36%). In terms of maximum drawdown, SPYX dropped -32.84% vs PMMY's -0.36%.
On 1-year performance, SPYX leads with 27.01% vs 5.98% for PMMY. On fees, SPYX is cheaper at 0.20% per year. On volatility, PMMY has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYX has performed better with a 27.01% return vs 5.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYX is cheaper with a 0.20% expense ratio, compared with 0.50% for PMMY.
SPYX has the higher dividend yield at 0.84%, compared with 0.00% for PMMY.
SPYX is categorized as S&P 500, while PMMY is Defined Outcome. They also come from different issuers: State Street and PGIM. Their fees differ too: 0.20% for SPYX and 0.50% for PMMY.
PMMY currently has the higher Sharpe Ratio (5.35 vs 2.24), 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.
Find the right allocation for SPYX and PMMY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer