PGIM S&P 500 Buffer 12 ETF - July

Frequently Asked Questions About JULP

What does JULP invest in?

JULP uses FLEX options in an effort to moderate losses on shares of SPDR S&P 500 ETF Trust (SPY) over a one-year period that resets each July. 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 - July.

What is the expense ratio of JULP?

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

How big is JULP?

PGIM S&P 500 Buffer 12 ETF - July (JULP) manages $39.3M 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 JULP actively managed or an index fund?

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

When was JULP launched?

PGIM S&P 500 Buffer 12 ETF - July (JULP) launched in May 2024 and is managed by PGIM.

How has JULP performed?

JULP'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.