STEN vs. PBFR

Last updated Jun 4, 2026

STEN (iShares Large Cap 10% Target Buffer Sep ETF) and PBFR (PGIM Laddered S&P 500 Buffer 20 ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

STEN vs. PBFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Sep ETF (STEN) and PGIM Laddered S&P 500 Buffer 20 ETF (PBFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STEN achieves a 7.79% return, which is significantly higher than PBFR's 4.52% return.

STEN

• 1D: -0.30%
• 1M: 3.31%
• YTD: 7.79%
• 6M: 8.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBFR

• 1D: -0.16%
• 1M: 1.58%
• YTD: 4.52%
• 6M: 5.34%
• 1Y: 12.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

STEN vs. PBFR - Yearly Performance Comparison

	2026 (YTD)	2025
STEN iShares Large Cap 10% Target Buffer Sep ETF	7.79%	2.05%
PBFR PGIM Laddered S&P 500 Buffer 20 ETF	4.52%	2.09%

Correlation

The correlation between STEN and PBFR is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.91

Return for Risk

STEN vs. PBFR — Risk / Return Rank

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

PBFR

PBFR Risk / Return Rank: 90
PBFR Sharpe Ratio Rank: 88
PBFR Sortino Ratio Rank: 91
PBFR Omega Ratio Rank: 93
PBFR Calmar Ratio Rank: 84
PBFR Martin Ratio Rank: 93

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.

STEN vs. PBFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Sep ETF (STEN) and PGIM Laddered S&P 500 Buffer 20 ETF (PBFR). 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

	STEN	PBFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.67	1.54	+0.13

Drawdowns

STEN vs. PBFR - Drawdown Comparison

The maximum STEN drawdown since its inception was -6.21%, smaller than the maximum PBFR drawdown of -8.50%. Use the drawdown chart below to compare losses from any high point for STEN and PBFR.

Drawdown Indicators

	STEN	PBFR	Difference
Max Drawdown Largest peak-to-trough decline	-6.21%	-8.50%	+2.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.82%	—
Current Drawdown Current decline from peak	-0.30%	-0.16%	-0.14%
Average Drawdown Average peak-to-trough decline	-0.92%	-0.63%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.53%	—

Volatility

Volatility by Period

	STEN	PBFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.24%	4.33%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.24%	6.89%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.24%	6.89%	+2.35%

STEN vs. PBFR - Expense Ratio Comparison

Both STEN and PBFR have an expense ratio of 0.50%.

Dividends

STEN vs. PBFR - Dividend Comparison

STEN's dividend yield for the trailing twelve months is around 0.29%, more than PBFR's 0.01% yield.

Position	TTM	2025	2024
PBFR PGIM Laddered S&P 500 Buffer 20 ETF	0.01%	0.01%	0.01%
STEN iShares Large Cap 10% Target Buffer Sep ETF	0.29%	0.31%	0.00%

Frequently Asked Questions

Can I hold both STEN and PBFR in my portfolio?

With a correlation of 0.91, STEN and PBFR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, STEN or PBFR?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, STEN or PBFR?

STEN and PBFR have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, STEN or PBFR?

STEN has the higher dividend yield at 0.29%, compared with 0.01% for PBFR.

What is the main difference between STEN and PBFR?

They also come from different issuers: BlackRock and PGIM.