YSEP vs. PMDE

Last updated Jul 15, 2026

YSEP (FT Cboe Vest International Equity Buffer ETF - September) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - YSEP is a Options Trading fund actively managed by FT Vest, while PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY). YSEP is actively managed, while PMDE is passively managed. A 0.68 correlation means they provide meaningful diversification when combined. YSEP charges 0.90%/yr vs 0.50%/yr for PMDE.

Performance

YSEP vs. PMDE - Performance Comparison

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

Returns By Period

In the year-to-date period, YSEP achieves a 6.38% return, which is significantly higher than PMDE's 3.16% return.

YSEP

• 1D: 0.38%
• 1M: 0.82%
• 6M: 4.71%
• YTD: 6.38%
• 1Y: 13.85%
• 3Y*: 11.07%
• 5Y*: —
• 10Y*: —

PMDE

• 1D: 0.06%
• 1M: 0.64%
• 6M: 2.74%
• YTD: 3.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YSEP vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
YSEP FT Cboe Vest International Equity Buffer ETF - September	6.38%	1.38%
PMDE PGIM S&P 500 Max Buffer ETF - December	3.16%	0.44%

Correlation

The correlation between YSEP and PMDE is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 1, 2025	0.68

Return for Risk

YSEP vs. PMDE — Risk / Return Rank

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

YSEP

YSEP Risk / Return Rank: 67
YSEP Sharpe Ratio Rank: 65
YSEP Sortino Ratio Rank: 68
YSEP Omega Ratio Rank: 66
YSEP Calmar Ratio Rank: 64
YSEP Martin Ratio Rank: 71

PMDE

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.

YSEP vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest International Equity Buffer ETF - September (YSEP) and PGIM S&P 500 Max Buffer ETF - December (PMDE). 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.

	YSEP	PMDE	Difference
Sharpe ratio: Return per unit of total volatility	1.70	—	—
Sortino ratio: Return per unit of downside risk	2.48	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.56	—	—
Martin ratio: Return relative to average drawdown	10.22	—	—

Drawdowns

YSEP vs. PMDE - Drawdown Comparison

The maximum YSEP drawdown since its inception was -22.58%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for YSEP and PMDE.

Drawdown Indicators

	YSEP	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-22.58%	-1.59%	-20.99%
Max Drawdown (1Y) Largest decline over 1 year	-5.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.75%	—	—
Current Drawdown Current decline from peak	-0.29%	0.00%	-0.29%
Average Drawdown Average peak-to-trough decline	-4.06%	-0.24%	-3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	—	—

Volatility

Volatility by Period

	YSEP	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	2.39%	+5.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.34%	2.39%	+8.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.34%	2.39%	+8.95%

YSEP vs. PMDE - Expense Ratio Comparison

YSEP has a 0.90% expense ratio, which is higher than PMDE's 0.50% expense ratio.

Dividends

YSEP vs. PMDE - Dividend Comparison

Neither YSEP nor PMDE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both YSEP and PMDE in my portfolio?

YSEP and PMDE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, YSEP or PMDE?

On fees, PMDE 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, YSEP or PMDE?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.90% for YSEP.

Which ETF pays a higher dividend yield, YSEP or PMDE?

YSEP and PMDE have nearly identical dividend yields, around 0.00%.

What is the main difference between YSEP and PMDE?

YSEP is categorized as Options Trading, while PMDE is Defined Outcome. They also come from different issuers: FT Vest and PGIM. Their fees differ too: 0.90% for YSEP and 0.50% for PMDE.