PGIM Nasdaq-100 Buffer 12 ETF - April
$33.18−0.03 (−0.09%)
- 0.50%
- $31M
- +19.5%
- 0M sh
- $33.22
- low $27.83high $33.27
The ETF.net PQAP Grade
A
Score 70 out of 100
- 1 of 12
Score 70 of 100 falls in the A 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 100Rank 2 of 12Mission
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.A93 out of 100Rank 1 of 12Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C46 out of 100Rank 6 of 12Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C46 out of 100Rank 6 of 12
Our read on PQAP
AA one-year cushion on the Nasdaq-100, with a bit more padding than the category norm: PQAP absorbs the first 12% of a QQQ drop over each period starting April 1, and charges 0.50% to do it.
The Fund seeks to match QQQ’s price return up to a predetermined cap while buffering the first 12% of QQQ losses over a one-year target outcome period.
Why people hold it
- The buffer runs 12 percentage points deep, versus the 10% cushion on the Innovator Nasdaq-100 buffer fund (QBUF) sitting in the same peer group.pgim.com
- 0.50% a year undercuts the typical Nasdaq-100 buffer fund, including QBUF at 0.79%. In a strategy where the option budget sets your cap, fee drag matters.
- April is one of four start months PGIM runs on this same 12% QQQ recipe (January, April, July, October), so entry points can be staggered instead of bunched.pgim.com
- Mechanically clean build: FLEX options on QQQ itself, a stated one-year outcome period, and one of the stronger risk profiles among Nasdaq-100 buffer funds.
Worth knowing
- The upside cap is reset for each period and is unknown until it starts. Above it, QQQ's gains keep going without you.pgim.com
- The 12% buffer is measured before fees and expenses and applies to holders across a full period. Buy mid-period and your own cushion and cap differ from the headline terms.pgim.com
- Small and lightly traded next to the buffer giants, so spreads can be wider. It also launched in late 2024, giving it a short record.
PQAP Holdings
- Other
- 4
- 114%
- 4QQQ Us 03/31/27 C5.77
PQAP 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.
PQAP$11,953
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 | PQAP |
|---|---|
| Year to date | +16.0% |
| 1 month | +1.7% |
| 3 months | +3.6% |
| 1 year | +19.5% |
| 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 | PQAP |
|---|---|---|
| 2026 YTD | +16.0% | |
| 2025 | +14.5% |
PQAP in the news
PQAP Dividends
- $0.0049 per share
- Irregular
Distribution data unavailable.
Distribution history
PQAP Risk
- 6.5%
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.
- 1.88
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.
- −10.8%
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.
- 0.43
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PQAP Cost
0.50%
PQAP0.50%
- The middle half of Nasdaq-100 Buffer 9-12% funds
- Median 0.79%
1 of the 12 Nasdaq-100 Buffer 9-12% funds charge less.
Other funds in Nasdaq-100 Buffer 9-12%
- BQTRGlobal X - Nasdaq 100 Tail Risk ETFExpense ratio 0.25%1 year return +18.2%
- BPQOCPGIM Nasdaq-100 Buffer 12 ETF - OctoberExpense ratio 0.50%1 year return +17.9%
- BPQJAPGIM Nasdaq-100 Buffer 12 ETF - JanuaryExpense ratio 0.50%1 year return +18.6%
- CPQJLPGIM Nasdaq-100 Buffer 12 ETF - JulyExpense ratio 0.50%1 year return +14.2%
- CQBUFInnovator Nasdaq-100 10 Buffer ETFExpense ratio 0.79%1 year return +8.9%