STEN vs. PMAP

Last updated Jun 4, 2026

STEN (iShares Large Cap 10% Target Buffer Sep ETF) and PMAP (PGIM S&P 500 Max Buffer ETF - April) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

STEN vs. PMAP - 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 S&P 500 Max Buffer ETF - April (PMAP). 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 PMAP's 3.28% return.

STEN

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

PMAP

• 1D: -0.06%
• 1M: 0.59%
• YTD: 3.28%
• 6M: 3.83%
• 1Y: 7.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

STEN vs. PMAP - Yearly Performance Comparison

	2026 (YTD)	2025
STEN iShares Large Cap 10% Target Buffer Sep ETF	7.79%	2.05%
PMAP PGIM S&P 500 Max Buffer ETF - April	3.28%	1.33%

Correlation

The correlation between STEN and PMAP is 0.88, 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	0.88

Return for Risk

STEN vs. PMAP — Risk / Return Rank

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

PMAP

PMAP Risk / Return Rank: 99
PMAP Sharpe Ratio Rank: 99
PMAP Sortino Ratio Rank: 99
PMAP Omega Ratio Rank: 99
PMAP Calmar Ratio Rank: 99
PMAP Martin Ratio Rank: 99

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. PMAP - 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 S&P 500 Max Buffer ETF - April (PMAP). 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	PMAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.67	3.23	-1.56

Drawdowns

STEN vs. PMAP - Drawdown Comparison

The maximum STEN drawdown since its inception was -6.21%, which is greater than PMAP's maximum drawdown of -1.75%. Use the drawdown chart below to compare losses from any high point for STEN and PMAP.

Drawdown Indicators

	STEN	PMAP	Difference
Max Drawdown Largest peak-to-trough decline	-6.21%	-1.75%	-4.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.34%	—
Current Drawdown Current decline from peak	-0.30%	-0.06%	-0.24%
Average Drawdown Average peak-to-trough decline	-0.92%	-0.08%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.05%	—

Volatility

Volatility by Period

	STEN	PMAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.81%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.24%	1.15%	+8.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.24%	2.33%	+6.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.24%	2.33%	+6.91%

STEN vs. PMAP - Expense Ratio Comparison

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

Dividends

STEN vs. PMAP - Dividend Comparison

STEN's dividend yield for the trailing twelve months is around 0.29%, while PMAP has not paid dividends to shareholders.

Position	TTM	2025
PMAP PGIM S&P 500 Max Buffer ETF - April	0.00%	0.00%
STEN iShares Large Cap 10% Target Buffer Sep ETF	0.29%	0.31%

Frequently Asked Questions

Can I hold both STEN and PMAP in my portfolio?

STEN and PMAP have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, STEN or PMAP?

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 PMAP?

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

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

STEN has the higher dividend yield at 0.29%, compared with 0.00% for PMAP.

What is the main difference between STEN and PMAP?

They also come from different issuers: BlackRock and PGIM.