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BUFP

GradeCChicago Board Options Exchange

PGIM Laddered S&P 500 Buffer 12 ETF

Buffered · PGIM · Inception 2024-06-11 · SEC filings

$32.93−0.10 (−0.30%)

As of Sep 23, 2026, 2:07 PM EDT

History starts Jun 13, 2024.
Intraday session: down, 27 prints from 33.03 to 32.93. Range 32.90 to 33.03. Use the arrow keys to read each point.$32.90$32.95$33.0010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$259M
1Y return
+12.6%
Yield · Last 12 months
0.01%
Volume · 30D
0M sh
NAV per share
$33.00
52W range
low $28.69high $36.04

The ETF.net BUFP Grade

C

42/ 100

Rank 10 of 18 in S&P 500 Laddered Buffer⁠

Confidence Medium

Six-pillar profile for BUFP. Scores out of 100: Cost 32, Risk 56, Mission not scored, Tradability 50, Holdings 40, Durability 53. Strongest: Risk (56). Weakest: Cost (32). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 32
    Category rank12/18 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 56
    Category rank10/18 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 50
    Category rank10/18 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 40
    Category rank15/17 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 53
    Category rank10/18 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on BUFP

ETF.net Research

CMost buffer funds make you pick a start month and live with it. BUFP skips the choice: it owns twelve PGIM S&P 500 Buffer 12 ETFs, one per calendar month, so part of the ladder resets on a rolling basis.

Stated mandate

The Fund seeks capital appreciation through U.S. large-cap equity exposure obtained via a laddered portfolio of twelve PGIM US Large-Cap Buffer 12 ETFs. The underlying ETFs seek limited downside protection and capped upside over a specified period, while the Fund itself has no stated buffer.

Why people hold it

  1. 01Twelve underlying buffer ETFs, one for each month, spread the entry point instead of locking everything to a single outcome period and a single cap.pgim.com
  2. 02Each underlying ETF targets a buffer against the first 12% (before fees) of SPY's price-return losses over a one-year period, paired with an upside cap.pgim.com
  3. 03A 0.50% fee sits well under the 0.79% typical of buffer peers, and the package ranks among the stronger implementations in that group.

Worth knowing

  1. 01The wrapper itself has no stated buffer. PGIM notes it likely won't get the full benefit of the underlying buffers, and their caps limit its upside.pgim.com
  2. 02Small and thinly traded, so spreads can run wider than at the category's giants. Matters most on larger orders.
  3. 03Live since 2024, so the record is short. PSFF, the other fund-of-buffer-ETFs in the group, carries a lower fee.

BUFP Holdings

As of Sep 20, 2026, 6:48 AM
Asset class
Other
Holdings
—
Top-10 weight
83%
Largest holding
JUNP8.3%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001JUNPPGIM S&P 500 BUFFER 12 ETF - JUNE8.34%664,593$21M1
002NOVPPGIM S&P 500 BUFFER 12 ETF - NOVEMBER8.34%641,349$21M1
003—PGIM S&P 500 BUFFER 12 ETF - JULY8.34%643,697$21M1
004DECPPGIM S&P 500 BUFFER 12 ETF - DECEMBER8.34%642,339$21M1
005AUGPPGIM S&P 500 BUFFER 12 ETF - AUGUST8.33%630,919$21M1
006OCTPPGIM S&P 500 BUFFER 12 ETF - OCTOBER8.33%642,945$21M1
007FEBPPGIM S&P 500 BUFFER 12 ETF - FEBRUARY8.33%613,829$21M1
008SEPPPGIM S&P 500 BUFFER 12 ETF - SEPTEMBER8.33%646,042$21M1
009—PGIM S&P 500 BUFFER 12 ETF - MAY8.33%645,267$21M1
010MRCPPGIM S&P 500 BUFFER 12 ETF - MARCH8.33%607,877$21M1
011APRPPGIM S&P 500 BUFFER 12 ETF - APRIL8.32%641,992$21M1
012JANPPGIM S&P 500 BUFFER 12 ETF - JANUARY8.32%600,839$21M1
013—(PIPA070) PGIM Core Government Money Market Fund0.12%296,102$296K60
014—Net Current Assets<0.01%1,336$1K132

Showing 1–14 of 14 holdings

BUFP Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BUFP$11,262
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BUFP $11,262. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BUFP. Periods over one year show the average yearly return.
PeriodBUFP
Year to date+9.7%
1 month+1.0%
3 months+3.1%
1 year+12.6%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BUFP
YearReturn barBUFP
2026 YTD+9.7%
2025+12.9%
2024+6.4%

History from Jun 13, 2024

BUFP in the news

ETF.net Research hasn’t filed on BUFP yet — coverage lands here as it’s written.

BUFP Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.01%Last 12 months
Payout per share
$0.0024Last 12 months
Last payment
$0.0024 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 27, 2024 $0.0047; Dec 30, 2025 $0.0024. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Jan 2, 2026$0.0024
Dec 27, 2024Jan 3, 2025$0.0047

BUFP Risk

How much the fund’s monthly returns vary, scaled to a year.
6.2%
Annualised · 26 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.31
vs 3-month T-bills · 26 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−12.0%
27 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.50
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BUFP Cost

Expense ratio0.50%
  • The middle half of S&P 500 Laddered Buffer funds
  • Median 0.20%

11 of the 18 S&P 500 Laddered Buffer funds charge less.

BUFP costs $50.00 a year on $10,000. The median S&P 500 Laddered Buffer fund costs $20.00.