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Launched · SEC filings

PGIM S&P 500 Max Buffer ETF - December

PMDECboePGIMB

$26.33−0.02 (−0.08%)

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

B63/ 100

Rank 1 of 20 in S&P 500 Max Buffer

B63/100Rank 1 of 20inS&P 500 Max Buffer
Intraday session: down, 42 prints from 26.35 to 26.33. Range 26.33 to 26.37. Use the arrow keys to read each point.26.3426.3626.3710 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$9M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
4
Avg volume · 30D
4.31K sh
52W range
low $24.89high $26.42
Launched
Filings
SEC EDGAR

The ETF.net PMDE Grade

Based on 4 of 6 pillars

B

Score 63 out of 100

Category
S&P 500 Max Buffer⁠
Rank
1 of 20
Six-pillar profile for PMDE. Scores out of 100: Cost 76, Risk 50, Mission not scored, Tradability 58, Holdings not scored, Durability 40. Strongest: Cost (76). Weakest: Durability (40). Based on 4 of 6 pillars.

Score 63 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.
    A76 out of 100
    Rank 1 of 20

  • 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.
    C50 out of 100
    Rank 10 of 20

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B58 out of 100
    Rank 8 of 20

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C40 out of 100
    Rank 11 of 20

Our read on PMDE

ETF.net Research

In short

BPGIM's December-dated buffer fund aims to offset the entire one-year drop in SPY's price, not just the first slice, and gives up the upside above a cap reset each period. Heavy armor, low ceiling, 0.50% a year.

Stated mandate

The Fund seeks to track SPY’s price return up to a predetermined cap while seeking to maximize protection from SPY losses over a one-year Target Outcome Period.

Why people hold it

  • Full-armor design: it seeks to offset SPY's whole price decline across a one-year outcome period, where most buffer funds absorb only an initial slice of the fall.pgim.com
  • Costs 0.50% a year against a 0.79% median for S&P 500 buffer funds, undercutting December-dated rivals like PDEC (0.79%).
  • The reference is SPY itself, so the payoff keys off a price you can watch all day, and the outcome period resets on a set annual schedule with nothing for you to roll.pgim.com

Worth knowing

  • Maximum protection is paid for with a low ceiling: gains stop at a cap set when each period starts, and buying mid-period leaves you with a different cap and buffer than the headline terms.
  • It tracks SPY's price return, so S&P 500 dividends don't flow through and the fund isn't built as an income payer.
  • Launched in late 2025 and still a small, lightly traded fund, which can mean wider bid-ask spreads than the veterans of the buffer aisle.

PMDE Holdings

Asset class
Other
Holdings
4
Top-10 weight
105%
Largest holding
4SPY Us 11/30/26 C13.67103.0%

Geography

  • United States99.53%
  • Switzerland0.26%
  • China0.10%
  • Mexico0.05%
  • Ireland0.03%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No data4SPY Us 11/30/26 C13.67103.00%128$9.5M1
2No data(PIPA070) PGIM Core Government Money Market Fund1.38%127,005$127K70
3No data4SPY Us 11/30/26 P683.390.29%128$26.5K3
4No dataNet Current Assets<0.01%28$27.6137

Showing 1–4 of 4 holdings

PMDE Performance

Launched Nov 28, 2025

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.Not enough history yet.
PMDE$10,486
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,115
Dec 31, 2025 to Nov 2, 2026. PMDE $10,486. SPY $11,115. Use the arrow keys to read each point.$10,000$11,000Dec 2025Jun 2026Nov 2026

Dec 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 PMDE. Periods over one year show the average yearly return.
PeriodPMDE
Year to date+4.9%
1 month+0.1%
3 months+1.4%
1 yearFund is under 1 year oldNo data
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 PMDE
YearReturn barPMDE
2026 YTD+4.9%
2025+0.3%

History from Dec 2, 2025

PMDE in the news

PMDE 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.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Nov 2025. No distributions yet.

PMDE Risk

Risk pillarC50 out of 100Rank 10 of 20 in S&P 500 Max Buffer
How much the fund’s monthly returns vary, scaled to a year.
Launched Nov 2025; fills in after 12 months
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.
Launched Nov 2025; fills in after 12 months
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.
Launched Nov 2025; fills in after 12 months
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.
0.17
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.

PMDE Cost

Tied cheapest in S&P 500 Max Buffer

$9,979

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

  • PMDE 0.50%

    $9,979

$10,000
30 years

Cost over time

  • PMDE 0.50%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530PMDE $9,979

Year by year

YearPMDE
10$900
20$3,460
30$9,979

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