HOCT vs PBDE
Innovator Premium Income 9 Buffer ETF - October vs PGIM S&P 500 Buffer 20 ETF - December
Which is better, HOCT or PBDE?
PBDE has been ahead.
PBDE has a lower expense ratio. PBDE 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 | HOCT | PBDE |
|---|---|---|
| Expense Ratio | 0.79% | 0.50%Best |
| AUM | $6M | $39M |
| Dividend Yield | 6.05% | 0.00% |
| Holdings | 4 | 14 |
| Volatility (annualized) | 2.5%Best | 4.5% |
| Max Drawdown | -7.7%Best | -8.7% |
| $10,000 over 1.4 years | $10,309 | $11,477Best |
| Fund Family | Innovator ETFs Trust | PGIM Investments |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Oct 2, 2023 | May 24, 2024 |
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. HOCT has data through Oct 1, 2025 and PBDE through Oct 14, 2026.
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
PBDE has been the more volatile fund, with annualized monthly volatility of 4.5% 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 -7.7% for HOCT and -8.7% for PBDE. 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
HOCT charges 0.79% per year while PBDE charges 0.50%. On a $10,000 position that is $79 vs $50 annually, a gap of $29 per year that compounds over a long holding period. On income, HOCT currently yields 6.05% against 0.00% for PBDE.
You are not choosing between two funds in isolation.
Whichever of HOCT and PBDE 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, HOCT or PBDE?
HOCT has an expense ratio of 0.79% while PBDE charges 0.50%. PBDE is the cheaper option, by $29 a year on a $10,000 investment.
Which is riskier, HOCT or PBDE?
PBDE has been the more volatile fund at 4.5% annualized versus 2.5% for HOCT. Worst drawdown: HOCT -7.7% vs PBDE -8.7%.
Should I hold both HOCT and PBDE?
HOCT and PBDE 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, HOCT or PBDE?
HOCT yields 6.05% while PBDE yields 0.00%, so HOCT currently pays the higher dividend yield.
Is PBDE better than HOCT?
PBDE has a lower expense ratio. PBDE 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.