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BFRZ vs PBFR

Innovator Equity Managed 100 Buffer ETF

BFRZCNYSE Arca

PGIM Laddered S&P 500 Buffer 20 ETF

PBFRBCboe

Overlap

Expense ratio

PBFR −0.39pt a year

BFRZ0.89%PBFR0.50%

Avg volume · 30D

BFRZ 1.2×the volume

BFRZ56.2KPBFR48.7K

BFRZ vs PBFR Performance

Oct 31, 2025 – Oct 30, 2026

+0.3%BFRZ+8.4%PBFR

Oct 31, 2025 to Oct 30, 2026. BFRZ +0.3%. PBFR +8.4%. Use the arrow keys to read each point.−2.5%2.5%5%10%Oct 2025Apr 2026Oct 2026
Expense ratio
BFRZ 0.89%
PBFR 0.50%, better
Fund size
BFRZ $144M
PBFR $244M
1Y total return
BFRZ +0.3%
PBFR +8.4%, better
Yield (12M)
BFRZ 0.24%, better
PBFR 0.01%
Holdings
BFRZ 184
PBFR 14
Avg volume (30D)
BFRZ 56.2K sh, better
PBFR 48.7K sh
NAV per share
BFRZ $26.98
PBFR $31.47
52W range

ETF.net Grade

BFRZ: Cost 47, Risk 33, Mission not scored, Tradability 59, Holdings 83, Durability 27. PBFR: Cost 85, Risk 69, Mission not scored, Tradability 41, Holdings 71, Durability 53.
Pillar letters and Scores for BFRZ, PBFR, with each pillar’s weight
PillarBFRZPBFR
Cost30% weightC47A85Higher
Mission25% weightNot scoredNot scored
Risk15% weightD33B69Higher
Tradability15% weightB59HigherC41
Holdings10% weightA83HigherA71
Durability5% weightD27C53Higher

Rank among S&P 500 Laddered Buffer funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BFRZ and PBFR are both graded against the same 18 S&P 500 Laddered Buffer funds, so their Grades compare head to head.

S&P 500 Laddered Buffer⁠

Category · 18 funds
See all 18 ›

PBFR ranks 2nd and BFRZ 11th of 18 funds in the S&P 500 Laddered Buffer Category.

  1. Rank 1BBUFPPGIM Laddered S&P 500 Buffer 12 ETFScore 69
  2. Rank 2BPBFRPGIM Laddered S&P 500 Buffer 20 ETFScore 68
  3. Rank 3BALDBAptus Laddered Deep Buffer ETFScore 65
  4. Rank 8CSPBXAllianzIM 6 Month Buffer10 Allocation ETFScore 52
  5. Rank 11CBFRZInnovator Equity Managed 100 Buffer ETFScore 50
  6. Rank 12CBUFZFT Vest Laddered Moderate Buffer ETFScore 48

Our read on each fund

ETF.net Research

BFRZCInnovator Equity Managed 100 Buffer ETF

PBFRBPGIM Laddered S&P 500 Buffer 20 ETF

In short

BFRZ No data

PBFR Most 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

BFRZ No data

PBFR 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

BFRZ No data

  • PBFR 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

BFRZ No data

  • PBFR 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

Full BFRZ profile⁠

Full PBFR profile⁠

BFRZ vs PBFR Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BFRZ vs PBFR Cost

Overpaying BFRZ vs PBFR

$6,893

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

  • BFRZ 0.89%

    $16,872

  • PBFR 0.50%

    $9,979

$10,000
30 years

Cost over time

  • BFRZ 0.89%
  • PBFR 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BFRZ $16,872PBFR $9,979

Year by year

YearBFRZPBFROverpaying
10$1,576$900$676
20$5,953$3,460$2,493
30$16,872$9,979$6,893

Expense ratio

  • 0.89%BFRZ
  • 0.50%PBFR, cheaper
  • Middle half of S&P 500 Laddered Buffer funds
  • Median 0.89%

PBFR 2nd cheapest of 18 funds

BFRZ 9th cheapest of 18 funds

BFRZ vs PBFR Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BFRZ 0.24%, better
PBFR 0.01%
Payout (12M)
BFRZ $0.07
PBFR $0.0025
Last payment
BFRZ $0.01
PBFR $0.0025
Ex-dividend
BFRZ Sep 30, 2026
PBFR Dec 30, 2025
Paid on
BFRZ Oct 2, 2026
PBFR Jan 2, 2026
Frequency
BFRZ Quarterly
PBFR Irregular

Distribution history

Per share, 2024 to 2026, same scale for both

BFRZQuarterly · 6 paymentsAll BFRZ payments⁠
One bar per payment. 6 payments from 2024 to 2026 YTD. Jun 30, 2025 $0.01; Sep 30, 2025 $0.02; Dec 31, 2025 $0.02; Mar 31, 2026 $0.02; Jun 30, 2026 $0.02; Sep 30, 2026 $0.01. Use the arrow keys to read each point.$0$0.032026YTD
PBFRIrregular · 2 paymentsAll PBFR payments⁠
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.$0$0.032026YTD

BFRZ vs PBFR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BFRZ 4.0%since Jun 2025PBFR 4.2%since Jul 2024
Return per unit of riskSharpe ratio, 3 years
BFRZ 0.33since Jun 2025PBFR 1.22since Jul 2024
Worst fallMax drawdown, 5 years
BFRZ −3.1%since May 2025PBFR −8.5%since Jun 2024
Market sensitivityBeta, 5 years
BFRZ 0.21PBFR 0.34

Popular comparisons

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