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Beacon

PMAUPGIM S&P 500 Max Buffer ETF - August

Take a bet1y track recordRanked #669 of 949 in this goal

Seeks returns that match the price return of the SPDR S&P 500 ETF Trust up to a cap while providing downside protection against its losses.

By PGIM · Launched 2025

Annual Cost

0.50%

#2,667 of 5,861 · average

Fund Size

$3M

#5,339 of 5,861 · small

Return (1Y)Goal

N/A

Track Record

1 year

#4,543 of 5,861 · young

Performance

Total-return NAV · USD
Growth of $10,000
$10,683+6.8%

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

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

What it actually holds

By weight

Concentration

Top 4 holdings = 100.0% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 7 C12.64
105.3%
(PIPA070) PGIM Core Government Money Market Fund
1.8%
CBOE GLOBAL MARKETS, INC.SPY 7 P632.08
0.8%
CBOE GLOBAL MARKETS, INC.SPY 7 C682.2
-7.9%

Asset allocation

Stocks
97.9%
Cash
2.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
N/A
Max drawdown
-1.2%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
Cboe BZX, NYSE American

Full fund details

Objective
Seeks returns that match the price return of the SPDR S&P 500 ETF Trust up to a cap while providing downside protection against its losses.
Strategy
Actively managed ETF that invests primarily in FLEX Options on the SPDR S&P 500 ETF Trust to provide downside protection against approximately 100% of its losses while allowing for upside participation up to a predetermined cap of 7.93%. The strategy is designed for investors holding shares throughout the Target Outcome Period.
Inception date
July 31, 2025
Fund family
PGIM

Our take

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

Buffer
Warning

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