XDEC vs. PMAU

Last updated Jun 23, 2026

XDEC (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December) and PMAU (PGIM S&P 500 Max Buffer ETF - August) are both Defined Outcome funds. XDEC is passively managed, while PMAU is actively managed. Their correlation of 0.86 suggests significant overlap in exposure. XDEC charges 0.85%/yr vs 0.50%/yr for PMAU.

Performance

XDEC vs. PMAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) and PGIM S&P 500 Max Buffer ETF - August (PMAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDEC achieves a 4.37% return, which is significantly higher than PMAU's 3.18% return.

XDEC

• 1D: -0.15%
• 1M: 0.42%
• YTD: 4.37%
• 6M: 4.26%
• 1Y: 11.89%
• 3Y*: 9.67%
• 5Y*: —
• 10Y*: —

PMAU

• 1D: 0.04%
• 1M: 0.43%
• YTD: 3.18%
• 6M: 3.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDEC vs. PMAU - Yearly Performance Comparison

	2026 (YTD)	2025
XDEC FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	4.37%	4.20%
PMAU PGIM S&P 500 Max Buffer ETF - August	3.18%	2.94%

Correlation

The correlation between XDEC and PMAU is 0.86, 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 Aug 1, 2025	0.86

Return for Risk

XDEC vs. PMAU — Risk / Return Rank

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

XDEC

XDEC Risk / Return Rank: 82
XDEC Sharpe Ratio Rank: 82
XDEC Sortino Ratio Rank: 87
XDEC Omega Ratio Rank: 90
XDEC Calmar Ratio Rank: 63
XDEC Martin Ratio Rank: 86

PMAU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

XDEC vs. PMAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) and PGIM S&P 500 Max Buffer ETF - August (PMAU). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	XDEC	PMAU	Difference
Sharpe ratio: Return per unit of total volatility	2.51	—	—
Sortino ratio: Return per unit of downside risk	3.78	—	—
Omega ratio: Gain probability vs. loss probability	1.55	—	—
Calmar ratio: Return relative to maximum drawdown	3.06	—	—
Martin ratio: Return relative to average drawdown	17.53	—	—

Drawdowns

XDEC vs. PMAU - Drawdown Comparison

The maximum XDEC drawdown since its inception was -11.75%, which is greater than PMAU's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for XDEC and PMAU.

Drawdown Indicators

	XDEC	PMAU	Difference
Max Drawdown Largest peak-to-trough decline	-11.75%	-1.79%	-9.96%
Max Drawdown (1Y) Largest decline over 1 year	-3.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	—	—
Current Drawdown Current decline from peak	-0.26%	0.00%	-0.26%
Average Drawdown Average peak-to-trough decline	-1.64%	-0.17%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	—	—

Volatility

Volatility by Period

	XDEC	PMAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.77%	2.48%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.44%	2.48%	+5.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.44%	2.48%	+5.96%

XDEC vs. PMAU - Expense Ratio Comparison

XDEC has a 0.85% expense ratio, which is higher than PMAU's 0.50% expense ratio.

Dividends

XDEC vs. PMAU - Dividend Comparison

Neither XDEC nor PMAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDEC and PMAU in my portfolio?

XDEC and PMAU have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDEC or PMAU?

On fees, PMAU is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDEC or PMAU?

PMAU is cheaper with a 0.50% expense ratio, compared with 0.85% for XDEC.

Which ETF pays a higher dividend yield, XDEC or PMAU?

XDEC and PMAU have nearly identical dividend yields, around 0.00%.

What is the main difference between XDEC and PMAU?

They also come from different issuers: FT Vest and PGIM. Their fees differ too: 0.85% for XDEC and 0.50% for PMAU.