BUFP vs BUFT: Grades, Fees and Holdings Compared

PGIM Laddered S&P 500 Buffer 12 ETF

BUFPBCboe

FT Vest Buffered Allocation Defensive ETF

BUFTDCboe

Overlap

0.0%by weight

Expense ratio

BUFP −0.71pt a year

BUFP0.50%BUFT1.21%

Avg volume · 30D

BUFP 3.0×the volume

BUFP72.7KBUFT23.9K

BUFP vs BUFT Performance

Nov 7, 2025 – Nov 9, 2026

+11.1%BUFP+9.0%BUFT

Expense ratio: BUFP 0.50%, better; BUFT 1.21%
Fund size: BUFP $336M; BUFT $164M
1Y total return: BUFP +11.1%, better; BUFT +9.0%
Yield (12M): BUFP 0.01%; BUFT No data
Holdings: BUFP 14; BUFT 8
Avg volume (30D): BUFP 72.7K sh, better; BUFT 23.9K sh
NAV per share: BUFP $32.21; BUFT $26.22
52W range

ETF.net Grade

Pillar letters and Scores for BUFP, BUFT, with each pillar’s weight
Pillar	BUFP	BUFT
Cost30% weight	A85Higher	F0
Mission25% weight	Not scored	Not scored
Risk15% weight	C53	A78Higher
Tradability15% weight	C48	C50Higher
Holdings10% weight	A71Higher	C42
Durability5% weight	B58	B62Higher

Rank among S&P 500 Laddered Buffer funds

How we build Categories ›

Same Category. BUFP and BUFT 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 ›

BUFP ranks 2nd and BUFT 15th of 18 funds in the S&P 500 Laddered Buffer Category.

Rank 1BPBFRPGIM Laddered S&P 500 Buffer 20 ETFScore 69
Rank 2BBUFPPGIM Laddered S&P 500 Buffer 12 ETFScore 67
Rank 3BIVVMiShares Large Cap Moderate Quarterly Laddered ETFScore 65
Rank 15DBFEWFT Vest Laddered U.S. Equity Equal Weight Buffer ETFScore 35
Rank 15DBUFTFT Vest Buffered Allocation Defensive ETFScore 35
Rank 17DONEZTrueShares Seasonality Laddered Buffered ETFScore 32

Our read on each fund

ETF.net Research

BUFPBPGIM Laddered S&P 500 Buffer 12 ETF

BUFTDFT Vest Buffered Allocation Defensive ETF

In short

BUFP Most 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.

BUFT One ticket instead of a whole ladder of dated buffer funds: BUFT owns a basket of S&P 500 buffer ETFs tilted to the defensive end, with capital preservation as its stated goal. That convenience carries a 1.21% price tag.

Stated mandate

BUFP 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.

BUFT The Fund seeks capital preservation by investing in ETFs whose returns are tied to SPY up to a predetermined cap and that provide a defined buffer against SPY losses over a one-year period.

Why people hold it

BUFP 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.

BUFT Buy the ladder, skip the legwork: one holding spreads you across several S&P 500 buffer ETFs instead of tracking start dates, caps and rolls fund by fund.ftportfolios.com
The reference point is plain vanilla: the SPDR S&P 500 ETF Trust. No bespoke index under the options layer, just the benchmark everyone already knows.ftportfolios.com
Downside cushion is the entire design. Each underlying fund absorbs a defined slice of S&P 500 losses across its one-year outcome period before losses reach the shareholder.ftportfolios.com

Worth knowing

BUFP 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.

BUFT At 1.21%, you pay for the wrapper plus the funds inside it, which lands above the typical buffer ETF. First Trust's own laddered BUFR runs cheaper.
Caps are the price of cushions: upside is limited to a preset ceiling each period, and the fund has not been paying distributions.
Assets are modest and trading is thin, so spreads can widen. Limit orders are the standard tool for funds in this volume range.

Full BUFP profile⁠

Full BUFT profile⁠

BUFP vs BUFT Holdings

How BUFP and BUFT differ

Overlap by weight

0.0%

About this figure: BUFP holds other funds. We compare those funds, not the stocks inside them.

BUFT holds other funds. We compare those funds, not the stocks inside them.

Level by level

Holdings0 in both0.0%
Sector11 Sectors96.7%
Countryby domicile100%

Sector

Sector weights in BUFP and BUFT, widest gap first
Sector	Gap	BUFP	BUFT
Technology	BUFT +3.0 points	36.4%	39.4%
Financials	BUFP +0.9 points	12.6%	11.7%
Health Care	BUFP +0.8 points	10.6%	9.8%
Consumer Discretionary	BUFP +0.6 points	9.7%	9.1%
Consumer Staples	BUFP +0.5 points	5.1%	4.6%
Energy	BUFT +0.2 points	3.5%	3.7%
Real Estate	BUFP +0.2 points	1.9%	1.7%
Utilities	BUFP +0.1 points	2.1%	2.0%
Communication	BUFT +0.1 points	8.8%	8.9%
Materials	BUFP +0.1 points	1.6%	1.5%
Industrials	BUFP +0.1 points	7.6%	7.5%

Country, concentration and asset class

Country by domicile

Country weights in BUFP and BUFT, widest gap first
Country	More in BUFPMore in BUFT	Gap	BUFP	BUFT
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

BUFP83.4%
BUFT100.0%

Securities held

BUFP13
BUFT7

Asset class

BUFP: Alternatives
BUFT: Multi-Asset

Holdings

Only in BUFP13
In both0
Only in BUFT7

Only in BUFP

13 securities, 99.97% of BUFP by weight

Pgim S&P 500 Buffer 12 Etf - April8.41%
Pgim S&P 500 Buffer 12 Etf - March8.36%
Pgim S&P 500 Buffer 12 Etf - January8.34%
Pgim S&P 500 Buffer 12 Etf - November8.33%
Pgim S&P 500 Buffer 12 Etf - February8.33%
Pgim S&P 500 Buffer 12 Etf - May8.33%
Pgim S&P 500 Buffer 12 Etf - September8.33%
Pgim S&P 500 Buffer 12 Etf - August8.33%
Pgim S&P 500 Buffer 12 Etf - October8.32%
Pgim S&P 500 Buffer 12 Etf - June8.32%
Pgim S&P 500 Buffer 12 Etf - July8.32%
Pgim S&P 500 Buffer 12 Etf - December8.26%
Net Current Assets<0.01%

Only in BUFT

7 securities, 99.95% of BUFT by weight

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March16.61%
FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December16.34%
FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January14.29%
FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February14.00%
FT Vest U.S. Equity Deep Buffer ETF - March13.78%
FT Vest U.S. Equity Moderate Buffer ETF - March13.37%
FT Vest U.S. Equity Enhance & Moderate Buffer ETF - April11.56%

Weight gaps

BUFP and BUFT share no securities.

All BUFP holdings⁠All 7 BUFT 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.

BUFP vs BUFT Cost

Overpaying BUFT vs BUFP

$12,026

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

BUFP 0.50%
$9,979
BUFT 1.21%
$22,005

Amount$10,000

Years30 years

Cost over time

BUFP 0.50%
BUFT 1.21%
Overpaying

Year by year

Year	BUFP	BUFT	Overpaying
10	$900	$2,115	$1,215
20	$3,460	$7,873	$4,413
30	$9,979	$22,005	$12,026

Expense ratio

0.50%BUFP, cheaper
1.21%BUFT

BUFP0.50%BUFT1.21%

0.30%1.21%

Middle half of S&P 500 Laddered Buffer funds
Median 0.89%

BUFP 2nd cheapest of 18 funds

BUFT 18th cheapest of 18 funds

BUFP vs BUFT Dividends

Last 12 months to Nov 9, 2026

Yield (12M): BUFP 0.01%; BUFT No data
Payout (12M): BUFP $0.0024; BUFT None
Last payment: BUFP $0.0024; BUFT No data
Ex-dividend: BUFP Dec 30, 2025; BUFT No data
Paid on: BUFP Jan 2, 2026; BUFT No data
Frequency: BUFP Irregular; BUFT No data

Distribution history

Per share, 2024 to 2026, same scale for both

BUFPIrregular · 2 paymentsAll BUFP payments⁠

BUFTAll BUFT payments⁠

No distribution history available.

BUFP vs BUFT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BUFP 6.0%since Jul 2024BUFT 3.9%
Return per unit of riskSharpe ratio, 3 years: BUFP 1.21since Jul 2024BUFT 1.52
Worst fallMax drawdown, 5 years: BUFP −12.0%since Jun 2024BUFT −10.4%
Market sensitivityBeta, 5 years: BUFP 0.50BUFT 0.33; Market = 1

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