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DECPPGIM S&P 500 Buffer 12 ETF - Dec

Stay safeGrow my money2y track recordRanked #180 of 340 in this goal

Seeks returns matching the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap, with a 12% downside buffer over a one-year Target Outcome Period.

By PGIM · Launched 2024

Annual Cost

0.50%

#2,576 of 5,562 · average

Fund Size

$33M

#3,944 of 5,562 · small

Dividend YieldGoal

0.00%

Track Record

2 years

#3,590 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$12,012+20.1%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 9 holdings = 100.0% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 11 C6.83
92.9%
CBOE GLOBAL MARKETS, INC.SPY 11 C6.83
5.1%
CBOE GLOBAL MARKETS, INC.SPY 11 P683.39
4.6%
(PIPA070) PGIM Core Government Money Market Fund
1.1%
CBOE GLOBAL MARKETS, INC.SPY 11 P683.39
0.3%
CBOE GLOBAL MARKETS, INC.SPY 11 C784.67
-0.1%
CBOE GLOBAL MARKETS, INC.SPY 11 P601.38
-0.1%
CBOE GLOBAL MARKETS, INC.SPY 11 C784.67
-1.4%
CBOE GLOBAL MARKETS, INC.SPY 11 P601.38
-2.3%

Asset allocation

Stocks
99.1%
Cash
0.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
8.2%Low

Year-on-year price swings

Max drawdown
-12.1%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks returns matching the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap, with a 12% downside buffer over a one-year Target Outcome Period.
Strategy
Actively managed defined-outcome ETF that invests substantially all assets in FLEX Options on the SPDR S&P 500 ETF Trust (SPY). Targets U.S. large-cap equity exposure up to an annually reset upside cap (13.21% net for the period Dec 1, 2024 - Nov 30, 2025) while buffering the first 12% of SPY losses (11.5% net of fees). Outcomes are achieved only by investors holding shares for the entire one-year Target Outcome Period.
Inception date
May 23, 2024
Fund family
PGIM

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19