KHPI vs PMMY
Kensington Hedged Premium Income ETF vs PGIM S&P 500 Max Buffer ETF - May
Which is better, KHPI or PMMY?
Each has led over a different period.
PMMY has a lower expense ratio. KHPI led over the full window, PMMY over 1Y.
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 | KHPI | PMMY |
|---|---|---|
| Expense Ratio | 0.98% | 0.50%Best |
| AUM | $443M | $5M |
| Dividend Yield | 9.00% | 0.00% |
| Holdings | 7 | 14 |
| YTD Return | +0.58% | +3.70%Best |
| 1Y Return | +2.47% | +5.03%Best |
| Volatility (annualized) | 8.0% | 0.9%Best |
| Max Drawdown | -8.1% | -0.6%Best |
| $10,000 over 1.5 years | $11,438Best | $10,878 |
| Fund Family | Kensington Funds | PGIM Investments |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Sep 4, 2024 | Apr 30, 2025 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: May 1, 2025 to Oct 14, 2026 (1.5 years).
KHPI vs PMMY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.5 years both funds cover.
KHPI vs PMMY Performance
Kensington Hedged Premium Income ETF (KHPI) is an ETF from Kensington Funds and PGIM S&P 500 Max Buffer ETF - May (PMMY) is an ETF from PGIM Investments. Over the past year KHPI returned +2.47% while PMMY returned +5.03%. Year to date, KHPI is up 0.58% versus a gain of 3.70% for PMMY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KHPI has been the more volatile fund, with annualized monthly volatility of 8.0% compared with 0.9% for PMMY. 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 -8.1% for KHPI and -0.6% for PMMY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KHPI charges 0.98% per year while PMMY charges 0.50%. On a $10,000 position that is $98 vs $50 annually, a gap of $48 per year that compounds over a long holding period. On income, KHPI currently yields 9.00% against 0.00% for PMMY.
You are not choosing between two funds in isolation.
Whichever of KHPI and PMMY 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, KHPI or PMMY?
KHPI has an expense ratio of 0.98% while PMMY charges 0.50%. PMMY is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, KHPI or PMMY?
Over the past year KHPI returned +2.47% vs +5.03% for PMMY, so PMMY leads on 1-year performance. Over the longest common window we track (2 years), KHPI annualized +9.37% vs +5.77% for PMMY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KHPI or PMMY?
KHPI has been the more volatile fund at 8.0% annualized versus 0.9% for PMMY. Worst drawdown: KHPI -8.1% vs PMMY -0.6%.
Should I hold both KHPI and PMMY?
KHPI and PMMY have a monthly-return correlation of 0.62, 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, KHPI or PMMY?
KHPI yields 9.00% while PMMY yields 0.00%, so KHPI currently pays the higher dividend yield.
Is PMMY better than KHPI?
PMMY has a lower expense ratio. KHPI led over the full window, PMMY over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.