PGIM Laddered S&P 500 Buffer 12 ETF
$33.27−0.02 (−0.06%)
- 0.50%
- $278M
- +14.4%
- 0.01%
- 0M sh
- $33.24
- low $28.69high $36.04
The ETF.net BUFP Grade
C
Score 47 out of 100
- 9 of 18
Score 47 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D38 out of 100Rank 11 of 18Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C54 out of 100Rank 9 of 18Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C44 out of 100Rank 10 of 18Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A72 out of 100Rank 3 of 18Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C52 out of 100Rank 10 of 18
Our read on BUFP
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.
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
- Twelve 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
- Each 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
- A 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
- The 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
- Small and thinly traded, so spreads can run wider than at the category's giants. Matters most on larger orders.
- Live since 2024, so the record is short. PSFF, the other fund-of-buffer-ETFs in the group, carries a lower fee.
BUFP Holdings
- Other
- 14
- 83%
- NOVP
Sectors
- Technology40.1%
- Financials11.3%
- Communication9.9%
- Health Care9.4%
- Consumer Discretionary8.7%
- Industrials7.6%
- Consumer Staples4.4%
- Energy3.4%
- Utilities1.9%
- Real Estate1.7%
- Materials1.6%
Geography
- United States100.00%
BUFP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
BUFP$11,445
Returns run to the Oct 12, 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.
| Period | BUFP |
|---|---|
| Year to date | +10.5% |
| 1 month | +1.5% |
| 3 months | +3.2% |
| 1 year | +14.4% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BUFP |
|---|---|---|
| 2026 YTD | +10.5% | |
| 2025 | +12.9% | |
| 2024 | +6.4% |
BUFP in the news
BUFP Dividends
- 0.01%
- $0.0024
- $0.0024 per share
- Irregular
Distribution history
BUFP Risk
- 6.1%
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.
- 1.28
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.
- −12.0%
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.
- 0.50
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
0.50%
BUFP0.50%
- The middle half of S&P 500 Laddered Buffer funds
- Median 0.25%
10 of the 18 S&P 500 Laddered Buffer funds charge less.
Other funds in S&P 500 Laddered Buffer
- CPBFRPGIM Laddered S&P 500 Buffer 20 ETFExpense ratio 0.50%1 year return +10.8%
- CBUFGFT Vest Buffered Allocation Growth ETFExpense ratio 0.20%1 year return +13.9%
- CALDBEtf Series Solutions - Aptus Laddered Deep Buffer ETFExpense ratio 0.30%1 year return —
- CBFEWFirst Trust Exchange-Traded Fund VIII - FT Vest Laddered U.S. Equity Equal Weight Buffer ETFExpense ratio 0.10%1 year return —
- CIVVMiShares Large Cap Moderate Quarterly Laddered ETFExpense ratio 0.53%1 year return +13.9%