PBMRPGIM S&P 500 Buffer 20 ETF - March
Seeks returns that match the price return of the SPDR S&P 500 ETF Trust with a 20% downside buffer over the one-year Target Outcome Period.
By PGIM · Launched 2024
0.50%
#2,668 of 5,861 · average
$33M
#4,076 of 5,861 · small
0.00%
2 years
#3,372 of 5,861 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 9 holdings = 100.0% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks returns that match the price return of the SPDR S&P 500 ETF Trust with a 20% downside buffer over the one-year Target Outcome Period.
- Strategy
- Actively managed ETF that invests primarily in FLEX Options on the SPDR S&P 500 ETF Trust to provide a downside buffer against the first 20% of losses and upside participation up to a cap of 10.89%. Aims to achieve returns that match the price return of the Underlying ETF while managing risk through options strategies.
- Inception date
- February 29, 2024
- Fund family
- PGIM
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
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 2026-08-04