PMSE vs SPY
PGIM S&P 500 Max Buffer ETF - September vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PMSE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $4M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +3.98% | +14.47% | |
| 1Y Return | +6.29% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -1.4% | -56.5% | |
| Fund Family | PGIM Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 1, 2025 | Jan 22, 1993 |
PMSE vs SPY Performance
PGIM S&P 500 Max Buffer ETF - September (PMSE) is a ETF from PGIM Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PMSE returned +6.29% while SPY returned +21.96%. Year to date, PMSE is up 3.98% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -1.4% for PMSE and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
PMSE charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, PMSE currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, PMSE or SPY?
PMSE has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, PMSE or SPY?
Over the past year PMSE returned +6.29% vs +21.96% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
Which pays a higher dividend, PMSE or SPY?
PMSE yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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