DECP vs HOCT
PGIM S&P 500 Buffer 12 ETF - December vs Innovator Premium Income 9 Buffer ETF - October
Which is better, DECP or HOCT?
DECP has been ahead.
DECP has a lower expense ratio. DECP led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DECP | HOCT |
|---|---|---|
| Expense Ratio | 0.50%Best | 0.79% |
| AUM | $34M | $6M |
| Dividend Yield | 0.00% | 6.05% |
| Holdings | 14 | 4 |
| Volatility (annualized) | 6.2% | 2.5%Best |
| Max Drawdown | -12.1% | -7.7%Best |
| $10,000 over 1.4 years | $11,787Best | $10,309 |
| Fund Family | PGIM Investments | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | May 24, 2024 | Oct 2, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 378 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. DECP has data through Oct 14, 2026 and HOCT through Oct 1, 2025.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: May 24, 2024 to Oct 1, 2025 (1.4 years).
Risk: Volatility and Drawdowns
DECP has been the more volatile fund, with annualized monthly volatility of 6.2% compared with 2.5% for HOCT. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.1% for DECP and -7.7% for HOCT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DECP charges 0.50% per year while HOCT charges 0.79%. On a $10,000 position that is $50 vs $79 annually, a gap of $29 per year that compounds over a long holding period. On income, DECP currently yields 0.00% against 6.05% for HOCT.
You are not choosing between two funds in isolation.
Whichever of DECP and HOCT you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DECP or HOCT?
DECP has an expense ratio of 0.50% while HOCT charges 0.79%. DECP is the cheaper option, by $29 a year on a $10,000 investment.
Which is riskier, DECP or HOCT?
DECP has been the more volatile fund at 6.2% annualized versus 2.5% for HOCT. Worst drawdown: DECP -12.1% vs HOCT -7.7%.
Should I hold both DECP and HOCT?
DECP and HOCT have a monthly-return correlation of 0.74, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DECP or HOCT?
DECP yields 0.00% while HOCT yields 6.05%, so HOCT currently pays the higher dividend yield.
Is HOCT better than DECP?
DECP has a lower expense ratio. DECP led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.