XDIV vs. PMJN

Last updated Jul 18, 2026

XDIV (Roundhill S&P 500 No Dividend Target ETF) and PMJN (PGIM S&P 500 Max Buffer ETF - June) are both exchange-traded funds - XDIV is a S&P 500 fund actively managed by Roundhill, while PMJN is a Defined Outcome fund actively managed by PGIM. Both are actively managed. Over the past year, XDIV returned 19.58% vs 5.38% for PMJN. Their correlation of 0.86 suggests significant overlap in exposure. XDIV charges 0.08%/yr vs 0.50%/yr for PMJN.

Performance

XDIV vs. PMJN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 No Dividend Target ETF (XDIV) and PGIM S&P 500 Max Buffer ETF - June (PMJN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDIV achieves a 9.11% return, which is significantly higher than PMJN's 2.43% return.

XDIV

• 1D: -1.01%
• 1M: 0.46%
• 6M: 7.68%
• YTD: 9.11%
• 1Y: 19.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMJN

• 1D: -0.13%
• 1M: 0.53%
• 6M: 2.12%
• YTD: 2.43%
• 1Y: 5.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDIV vs. PMJN - Yearly Performance Comparison

	2026 (YTD)	2025
XDIV Roundhill S&P 500 No Dividend Target ETF	9.11%	10.07%
PMJN PGIM S&P 500 Max Buffer ETF - June	2.43%	3.08%

Correlation

The correlation between XDIV and PMJN 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 (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.86

The correlation between XDIV and PMJN has been stable across timeframes, ranging from 0.86 to 0.86 - a consistent structural relationship.

Return for Risk

XDIV vs. PMJN — Risk / Return Rank

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

XDIV

XDIV Risk / Return Rank: 58
XDIV Sharpe Ratio Rank: 57
XDIV Sortino Ratio Rank: 56
XDIV Omega Ratio Rank: 56
XDIV Calmar Ratio Rank: 53
XDIV Martin Ratio Rank: 67

PMJN

PMJN Risk / Return Rank: 95
PMJN Sharpe Ratio Rank: 94
PMJN Sortino Ratio Rank: 96
PMJN Omega Ratio Rank: 96
PMJN Calmar Ratio Rank: 92
PMJN Martin Ratio Rank: 96

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.

XDIV vs. PMJN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 No Dividend Target ETF (XDIV) 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.

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.

	XDIV	PMJN	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.78	-1.23
Sortino ratio: Return per unit of downside risk	2.17	4.37	-2.20
Omega ratio: Gain probability vs. loss probability	1.28	1.65	-0.37
Calmar ratio: Return relative to maximum drawdown	2.15	4.77	-2.62
Martin ratio: Return relative to average drawdown	9.42	24.70	-15.27

XDIV vs. PMJN - Sharpe Ratio Comparison

The current XDIV Sharpe Ratio is 1.54, which is lower than the PMJN Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of XDIV and PMJN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XDIV vs. PMJN - Drawdown Comparison

The maximum XDIV drawdown since its inception was -9.16%, which is greater than PMJN's maximum drawdown of -1.15%. Use the drawdown chart below to compare losses from any high point for XDIV and PMJN.

Drawdown Indicators

	XDIV	PMJN	Difference
Max Drawdown Largest peak-to-trough decline	-9.16%	-1.15%	-8.01%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-1.15%	-8.01%
Current Drawdown Current decline from peak	-2.03%	-0.13%	-1.90%
Average Drawdown Average peak-to-trough decline	-1.27%	-0.10%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	0.22%	+1.86%

Volatility

XDIV vs. PMJN - Volatility Comparison

Roundhill S&P 500 No Dividend Target ETF (XDIV) has a higher volatility of 3.34% compared to PGIM S&P 500 Max Buffer ETF - June (PMJN) at 0.77%. This indicates that XDIV'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.

Volatility by Period

	XDIV	PMJN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	0.77%	+2.57%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	1.73%	+8.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	1.97%	+10.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.63%	1.92%	+10.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.63%	1.92%	+10.71%

XDIV vs. PMJN - Expense Ratio Comparison

XDIV has a 0.08% expense ratio, which is lower than PMJN's 0.50% expense ratio.

Dividends

XDIV vs. PMJN - Dividend Comparison

Neither XDIV nor PMJN has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDIV and PMJN in my portfolio?

XDIV and PMJN 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 is riskier, XDIV or PMJN?

XDIV has higher volatility (3.34%) compared to PMJN (0.77%). In terms of maximum drawdown, XDIV dropped -9.16% vs PMJN's -1.15%.

Which ETF is better, XDIV or PMJN?

On 1-year performance, XDIV leads with 19.58% vs 5.38% for PMJN. On fees, XDIV is cheaper at 0.08% per year. On volatility, PMJN has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDIV or PMJN?

Over the 1-year period, XDIV has performed better with a 19.58% return vs 5.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDIV or PMJN?

XDIV is cheaper with a 0.08% expense ratio, compared with 0.50% for PMJN.

Which ETF pays a higher dividend yield, XDIV or PMJN?

XDIV and PMJN have nearly identical dividend yields, around 0.00%.

What is the main difference between XDIV and PMJN?

XDIV is categorized as S&P 500, while PMJN is Defined Outcome. They also come from different issuers: Roundhill and PGIM. Their fees differ too: 0.08% for XDIV and 0.50% for PMJN.

Which has better risk-adjusted returns?

PMJN currently has the higher Sharpe Ratio (2.78 vs 1.54), 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.