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Launched · SEC filings

PGIM Laddered S&P 500 Buffer 20 ETF

PBFRCboePGIMB

$31.23−0.01 (−0.03%)

At close: Nov 2, 2026, 4:00 PM ET

B68/ 100

Rank 2 of 18 in S&P 500 Laddered Buffer

B68/100Rank 2 of 18inS&P 500 Laddered Buffer
Intraday session: down, 77 prints from 31.24 to 31.23. Range 31.22 to 31.41. Use the arrow keys to read each point.31.3031.3531.4010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$243M
1Y total return
+8.4%
Yield · Last 12 months
0.01%
Holdings
14
Avg volume · 30D
48.7K sh
52W range
low $28.46high $33.45
Launched
Filings
SEC EDGAR

The ETF.net PBFR Grade

Based on 5 of 6 pillars

B

Score 68 out of 100

Category
S&P 500 Laddered Buffer⁠
Rank
2 of 18
Six-pillar profile for PBFR. Scores out of 100: Cost 85, Risk 69, Mission not scored, Tradability 41, Holdings 71, Durability 53. Strongest: Cost (85). Weakest: Tradability (41). Based on 5 of 6 pillars.

Score 68 of 100 falls in the B 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.
    A85 out of 100
    Rank 2 of 18

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B69 out of 100
    Rank 4 of 18

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C41 out of 100
    Rank 13 of 18

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A71 out of 100
    Rank 3 of 18

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 10 of 18

Our read on PBFR

ETF.net Research

In short

BMost buffer ETFs make you pick a start month. PBFR skips that: one ticker holding twelve monthly vintages of PGIM's 20% S&P 500 buffer funds, so caps and buffers are staggered across the calendar.

Stated mandate

The Fund seeks capital appreciation through U.S. large-cap equity exposure obtained through a laddered portfolio of twelve PGIM S&P 500 Buffer 20 ETFs, each intended to limit downside risk.

Why people hold it

  • At 0.50%, it prices below the typical 20%-buffer fund in its group, and ranks among the stronger implementations in that group.
  • One ticker does the ladder work: twelve underlying PGIM Buffer 20 ETFs, rebalanced back to equal weight (8 1/3% each) quarterly as caps reset.pgim.com
  • Each underlying fund aims to absorb the first 20% of SPY's price decline over a one-year outcome period, in exchange for an upside cap.pgim.com
  • Launched in 2024 and stocked entirely with PGIM's own monthly Buffer 20 funds, so one manager runs the whole chain.pgim.com

Worth knowing

  • You hold a blend, not one vintage, so no single stated buffer or cap applies to your position at any given moment.pgim.com
  • The 20% buffer is measured before fees and expenses and covers only the first 20% of SPY's drop; deeper declines come through.pgim.com
  • A fund of funds in a niche corner: the underlying ETFs' fees flow through pro rata, and it trades less actively than the category's biggest names.pgim.com

PBFR Performance

Launched Jun 11, 2024

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.
PBFR$10,841
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. PBFR $10,841. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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 PBFR. Periods over one year show the average yearly return.
PeriodPBFR
Year to date+6.9%
1 month−0.5%
3 months+1.5%
1 year+8.4%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 PBFR
YearReturn barPBFR
2026 YTD+6.9%
2025+10.4%
2024+5.4%

History from Jun 14, 2024

PBFR in the news

PBFR 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 Nov 2, 2026.
0.01%Last 12 months
Payout per share
$0.0025Last 12 months
Last payment
$0.0025 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 $0.0036; Dec 30, 2025 $0.0025. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Jan 2, 2026$0.0025
Dec 27, 2024Jan 3, 2025$0.0036

$10,000 in PBFR 1 year ago paid $0.86 in dividends.

PBFR Risk

Risk pillarB69 out of 100Rank 4 of 18 in S&P 500 Laddered Buffer
How much the fund’s monthly returns vary, scaled to a year.
4.2%
Annualised · 28 months to Oct 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.
1.22
vs 3-month T-bills · 28 months to Oct 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.
−8.5%
28 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.
0.34
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.

FMP measures it over up to five years of monthly returns.

PBFR Cost

Compare PBFR and ALDB

Overpaying vs ALDB, cheapest in S&P 500 Laddered Buffer

$3,830

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PBFR 0.50%

    $9,979

  • ALDB 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • PBFR 0.50%
  • ALDB 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530PBFR $9,979ALDB $6,149

Year by year

YearPBFRALDBOverpaying
10$900$545$355
20$3,460$2,113$1,347
30$9,979$6,149$3,830

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