diff --git a/src/oracles/reserve/pendle/EzEthPtReserveOracle.sol b/src/oracles/reserve/pendle/EzEthPtReserveOracle.sol
index ca3b1ca4..f29d3dd4 100644
--- a/src/oracles/reserve/pendle/EzEthPtReserveOracle.sol
+++ b/src/oracles/reserve/pendle/EzEthPtReserveOracle.sol
@@ -31,6 +31,6 @@ contract EzEthPtReserveOracle is ReserveOracle {
         (,, uint256 totalTVL) = RENZO_RESTAKE_MANAGER.calculateTVLs();
         uint256 totalSupply = EZETH.totalSupply();
 
-        return totalTVL.mulDiv(1e18, totalSupply);
+        return totalSupply.mulDiv(1e18, totalTVL);
     }
 }
diff --git a/src/oracles/reserve/pendle/RsEthPtReserveOracle.sol b/src/oracles/reserve/pendle/RsEthPtReserveOracle.sol
index 711e97da..cc4002b5 100644
--- a/src/oracles/reserve/pendle/RsEthPtReserveOracle.sol
+++ b/src/oracles/reserve/pendle/RsEthPtReserveOracle.sol
@@ -1,15 +1,20 @@
 // SPDX-License-Identifier: MIT
 pragma solidity 0.8.21;
 
+import { WAD } from "../../../libraries/math/WadRayMath.sol";
 import { RSETH_LRT_ORACLE } from "../../../Constants.sol";
 import { ReserveOracle } from "../ReserveOracle.sol";
 
+import { Math } from "@openzeppelin/contracts/utils/math/Math.sol";
+
 /**
  * @notice Reserve Oracle for PT-rsETH
  *
  * @custom:security-contact security@molecularlabs.io
  */
 contract RsEthPtReserveOracle is ReserveOracle {
+    using Math for uint256;
+
     constructor(
         uint8 _ilkIndex,
         address[] memory _feeds,
@@ -24,6 +29,6 @@ contract RsEthPtReserveOracle is ReserveOracle {
      * at maturity, we need to convert 1 ETH of value into rsETH terms.
      */
     function _getProtocolExchangeRate() internal view override returns (uint256) {
-        return RSETH_LRT_ORACLE.rsETHPrice();
+        return WAD.mulDiv(WAD, RSETH_LRT_ORACLE.rsETHPrice());
     }
 }
diff --git a/test/fork/concrete/pendle/PtReserveOracle.t.sol b/test/fork/concrete/pendle/PtReserveOracle.t.sol
new file mode 100644
index 00000000..73df9f86
--- /dev/null
+++ b/test/fork/concrete/pendle/PtReserveOracle.t.sol
@@ -0,0 +1,34 @@
+// SPDX-License-Identifier: MIT
+pragma solidity 0.8.21;
+
+import { Test } from "forge-std/Test.sol";
+import { EzEthPtReserveOracle } from "../../../../src/oracles/reserve/pendle/EzEthPtReserveOracle.sol";
+import { RsEthPtReserveOracle } from "../../../../src/oracles/reserve/pendle/RsEthPtReserveOracle.sol";
+import { RswEthPtReserveOracle } from "../../../../src/oracles/reserve/pendle/RswEthPtReserveOracle.sol";
+import { WeEthPtReserveOracle } from "../../../../src/oracles/reserve/pendle/WeEthPtReserveOracle.sol";
+
+contract PtReserveOracleTest is Test {
+    function setUp() public {
+        vm.createSelectFork(vm.envString("MAINNET_RPC_URL"));
+    }
+
+    function test_WeEth() public {
+        WeEthPtReserveOracle reserveOracle = new WeEthPtReserveOracle(0, new address[](3), 0, 0.02e18);
+        assertLe(reserveOracle.getProtocolExchangeRate(), 1e18);
+    }
+
+    function test_RsEth() public {
+        RsEthPtReserveOracle reserveOracle = new RsEthPtReserveOracle(0, new address[](3), 0, 0.02e18);
+        assertLe(reserveOracle.getProtocolExchangeRate(), 1e18);
+    }
+
+    function test_RswEth() public {
+        RswEthPtReserveOracle reserveOracle = new RswEthPtReserveOracle(0, new address[](3), 0, 0.02e18);
+        assertLe(reserveOracle.getProtocolExchangeRate(), 1e18);
+    }
+
+    function test_EzEth() public {
+        EzEthPtReserveOracle reserveOracle = new EzEthPtReserveOracle(0, new address[](3), 0, 0.02e18);
+        assertLe(reserveOracle.getProtocolExchangeRate(), 1e18);
+    }
+}