PQXXPGIM S&P 500 Quarterly Buffer 20 ETF
Seeks returns that match the price return of the SPDR S&P 500 ETF Trust with a 20% downside buffer over an approximate three-month Target Outcome Period.
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What's inside
How Beacon categorizes this fundListing
- 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 an approximate three-month Target Outcome Period.
- Strategy
- Invests at least 80% of net assets in derivatives and other investments providing exposure to the S&P 500 Index, aiming for returns that match the price return up to a predetermined upside cap while offering a downside buffer against the first 20% of losses.
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 2026-07-02