Which has more room to gain, DECP or PMDE?

From their prices on Nov 4, 2026, DECP can gain about 2.8% before its cap and PMDE about 0.7%, so DECP has more room left this period.

Which resets first, DECP or PMDE?

DECP ends its outcome period on Nov 30, 2026 and PMDE on Nov 30, 2026. A new cap is set the day after each.

Which is cheaper, DECP or PMDE?

DECP and PMDE both charge 0.50% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

DECP vs PMDE: Cap, Buffer & Days Left

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As of Nov 4, 2026 DECP can fall 10.6% before its buffer engages and PMDE 5.9%.

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Net assets on Nov 4, 2026: $39m for PGIM S&P 500 Buffer 12 ETF - December and $9.2m for PGIM S&P 500 Max Buffer ETF - December.

DECP on its own →PMDE on its own →

At a glance

10.6%

DECP can fall this far before its buffer

5.9%

PMDE can fall this far before its buffer

2.8%

DECP can still gain

0.7%

PMDE can still gain

DECP Between buffer and cap

DECP: reference +12.2% since period start, fund +11.3%; buffer 0 to −12; cap +14.8%; Between buffer and cap. Data to Nov 4, 2026.

PMDE At its cap

PMDE: reference +12.2% since period start, fund +5.7%; buffer Floor; cap +7.0%; At its cap. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

Both cost 0.50% a year; DECP is 4.2 times larger.

Points (pts) are percentage points.

DECP vs PMDE: Cap, Buffer & Days Left
Measure	DECP	PMDE
Return
Measure	DECP	PMDE
Total return, 1 year	+13.5%	not published
Drawdown
Measure	DECP	PMDE
Index fall to the buffer	10.9%
Benchmark
Measure	DECP	PMDE
What it tracks	SPY	SPY
Cost and size
Measure	DECP	PMDE
Expense ratio	0.50%	0.50%
Net assets	$39m	$9.2m
Holdings
Measure	DECP	PMDE
Holdings in common	not published

Method

Window by window

Window by window: DECP vs PMDE: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DECP	PMDE	DECP	PMDE
3 months	+1.7%	+1.4%	+2.0 pts	+1.8 pts
6 months	+5.3%	+3.1%	+0.8 pts	−1.4 pts
1 year	+13.5%	–	−0.1 pts	–
Since launchNot the same days: DECP May 2024 · PMDE Dec 2025	+34.3%	+5.8%	−10.5 pts	−7.0 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

DECP PGIM S&P 500 Buffer 12 ETF - December · Absorbs the first 12% of loss on SPY and caps the gain at 14.8%, over a period ending Nov 30, 2026 PMDE PGIM S&P 500 Max Buffer ETF - December · Absorbs the whole loss on SPY and caps the gain at 7.0%, over a period ending Nov 30, 2026

Issuer PGIM PGIM

Reference index SPY SPY

Buffer 12% 100%

Outcome period Dec 1, 2025 to Nov 30, 2026 Dec 1, 2025 to Nov 30, 2026

Days left 26 26

Starting cap +14.8% +7.0%

Can still gain 2.8% 0.7%

Fall before buffer 10.6% 5.9%

Protection left, index points 12.0% of 12.0% 100.0% of 100.0%

Index return this period +12.2% +12.2%

Fund return this period +11.3% +5.7%

State today Open At cap

Expense ratio 0.50% 0.50%

Net assets $39m $9.2m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. PMDE is a floor fund, which caps how far a holder can fall. DECP is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

PMDE is already at its cap, so more rise in the index adds nothing to it before the period ends.

Both are PGIM funds, so the difference between them is the terms rather than the house.

Where each one stands today

DECP resets first, on Nov 30, 2026, 26 days from now; PMDE runs to Nov 30, 2026, 26 days. DECP can still gain 2.8% before its cap, PMDE 0.7%. A fall from here reaches DECP’s buffer after 10.6% and PMDE’s after 5.9%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

DECP

From its price on Nov 4, 2026, the fund can gain about 2.8% more before it reaches its cap. The fund's price can fall 10.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.9% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. 26 days remained on Nov 4, 2026. On Nov 30, 2026 the period ends and a new cap is set.

PMDE

SPY had already risen past this fund's cap of +7.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.7% as the period runs out. The fund's price can fall 5.9% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, DECP or PMDE?: From their prices on Nov 4, 2026, DECP can gain about 2.8% before its cap and PMDE about 0.7%, so DECP has more room left this period.
Which resets first, DECP or PMDE?: DECP ends its outcome period on Nov 30, 2026 and PMDE on Nov 30, 2026. A new cap is set the day after each.
Which is cheaper, DECP or PMDE?: DECP and PMDE both charge 0.50% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

DECP vs PDEC DECP vs DLNV DECP vs XNOV DECP vs NOVM PMDE vs PBDE PMDE vs DECT PMDE vs CPSN PMDE vs CPSD

Where to next

SPDR S&P 500 ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DECP on its own →PMDE on its own →Method →Standards and sources →

Sources and dates

DECP and PMDE filings on SEC EDGAR ↗

PGIM website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, DECP against PMDE, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/decp-vs-pmde

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.