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Beacon

PBNVPGIM S&P 500 Buffer 20 ETF - November

Stay safeGrow my money2y track recordRanked #184 of 340 in this goal

Seeks to match the price return of SPDR S&P 500 ETF Trust up to an 11.47% cap while providing a 20% downside buffer.

By PGIM · Launched 2024

Annual Cost

0.50%

#2,576 of 5,562 · average

Fund Size

$31M

#4,038 of 5,562 · small

Dividend YieldGoal

0.00%

Track Record

2 years

#3,582 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,247+12.5%

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 10 C6.82
82.0%
CBOE GLOBAL MARKETS, INC.SPY 10 C6.82
16.2%
CBOE GLOBAL MARKETS, INC.SPY 10 P682.06
3.7%
(PIPA070) PGIM Core Government Money Market Fund
0.8%
CBOE GLOBAL MARKETS, INC.SPY 10 P682.06
0.7%
CBOE GLOBAL MARKETS, INC.SPY 10 P545.65
-0.2%
CBOE GLOBAL MARKETS, INC.SPY 10 C760.29
-0.3%
CBOE GLOBAL MARKETS, INC.SPY 10 P545.65
-1.1%
CBOE GLOBAL MARKETS, INC.SPY 10 C760.29
-1.8%

Asset allocation

Stocks
99.2%
Cash
0.8%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
5.2%Low

Year-on-year price swings

Max drawdown
-4.1%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 to match the price return of SPDR S&P 500 ETF Trust up to an 11.47% cap while providing a 20% downside buffer.
Strategy
Invests primarily in FLEX Options on the SPDR S&P 500 ETF Trust to achieve a target outcome over a one-year period. The strategy includes a limited buffer against the first 20% of losses and caps upside participation at 11.47%.
Inception date
May 21, 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