# PGIM S&P 500 Buffer 12 ETF - Feb (FEBP): ETF Facts & Distributions

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- Issuer: PGIM · Asset class: Alternatives
- Strategy: Buffered · Inception: 2024-01-31

FEBP uses FLEX options in an effort to moderate losses on shares of SPDR S&P 500 ETF Trust (SPY) over a one-year period, starting each February. The fund foregoes upside participation above a certain threshold, which resets annually in exchange for preventing the realization of the first 12% of SPYs losses, as well as the dividend component of SPY because the options are written on the price and not on the total return version of the shares. Should the value of SPY decline by more than 12%, the fund will experience subsequent losses on a one-to-one basis. The fund must be held to the end of...

## Key Facts

| Metric | Value |
|---|---|
| Price | $34.94 |
| Expense Ratio | 0.50% |
| Assets Under Management | $30.0M |
| NAV | $35.25 |
| Holdings Count | 8 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | — |
| 52-Week Range | $30.68 – $35.33 |
| Beta | 0.51 |

## Frequently Asked Questions

### What does FEBP invest in?

FEBP uses FLEX options in an effort to moderate losses on shares of SPDR S&P 500 ETF Trust (SPY) over a one-year period, starting each February. The fund foregoes upside participation above a certain threshold, which resets annually in exchange for preventing the realization of the first 12% of SPYs losses, as well as the dividend component of SPY because the options are written on the price and not on the total return version of the shares. Should the value of SPY decline by more than 12%, the fund will experience subsequent losses on a one-to-one basis. The fund must be held to the end of the outcome period to achieve the intended results. Investors who buy at any time other than the annual reset day may have a different protection and buffer zone. Once established, the issuer publishes the interim levels for the cap on its website. Investors should note that the targeted cap and buffer do not include the funds expense ratio. On February 21, 2025, the fund name changed to PGIM S&P 500 Buffer 12 ETF - February.

### What is the expense ratio of FEBP?

PGIM S&P 500 Buffer 12 ETF - Feb (FEBP) charges an expense ratio of 0.50%. This is the annual fee deducted from fund assets to cover management and operations.

### How big is FEBP?

PGIM S&P 500 Buffer 12 ETF - Feb (FEBP) manages $30.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Is FEBP actively managed or an index fund?

FEBP's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

### When was FEBP launched?

PGIM S&P 500 Buffer 12 ETF - Feb (FEBP) launched in January 2024 and is managed by PGIM.

### How has FEBP performed?

FEBP's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.

### Does FEBP pay a dividend?

PGIM S&P 500 Buffer 12 ETF - Feb (FEBP) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab.

### How often does FEBP pay dividends?

PGIM S&P 500 Buffer 12 ETF - Feb pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is FEBP's dividend yield?

FEBP's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is FEBP's next ex-dividend date?

FEBP hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page.

### How much will FEBP's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.50% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does FEBP charge its expense ratio?

The expense ratio is deducted in tiny daily slices from FEBP's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does FEBP cost more than a fund like VOO?

FEBP's strategy (current expense ratio 0.50%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where FEBP sits within its own category, which is the comparison that actually matters.

### Are there cheaper alternatives to FEBP?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as FEBP (0.50%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/febp
- Distribution history: https://www.dividenddata.com/funds/febp/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/febp/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/febp/expenses
- Peer comparison: https://www.dividenddata.com/funds/febp/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.