# PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/pbqq for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: PGIM · Asset class: Alternatives - Strategy: Buffered · Inception: 2024-12-27 PBQQ represents a distinct investment vehicle, functioning as a portfolio of structured outcome exchange-traded funds (ETFs). It comprises a quartet of underlying equity protection funds, each designed to track the performance of the Nasdaq-100 index (via the QQQ ETF). These individual funds offer a predefined range of outcomes, setting an upper limit on potential gains while providing insulation against the initial 12% of losses. PBQQ strategically allocates its capital equally across these four underlying ETFs, which are characterized by staggered expiration profiles: one ETF's options ma... ## Key Facts | Metric | Value | |---|---| | Price | $32.08 | | Expense Ratio | 0.50% | | Assets Under Management | $99.7M | | NAV | $32.25 | | Holdings Count | 0 | | Distribution Yield (TTM) | 0.01% | | Annual Distribution (TTM) | $0.00 /share | | Distribution Frequency | Irregular | | 52-Week Range | $27.77 – $32.86 | | Beta | 0.64 | ## Latest Distribution - Amount: $0.0042 /share - Ex-date: 2025-12-30 - Pay date: 2026-01-02 ## Frequently Asked Questions ### What does PBQQ invest in? PBQQ represents a distinct investment vehicle, functioning as a portfolio of structured outcome exchange-traded funds (ETFs). It comprises a quartet of underlying equity protection funds, each designed to track the performance of the Nasdaq-100 index (via the QQQ ETF). These individual funds offer a predefined range of outcomes, setting an upper limit on potential gains while providing insulation against the initial 12% of losses. PBQQ strategically allocates its capital equally across these four underlying ETFs, which are characterized by staggered expiration profiles: one ETF's options mature in approximately three months, another in six, a third in nine, and the final one in twelve months. Unlike the annual reset common for individual buffer funds, PBQQ employs a rolling renewal cycle, refreshing its components roughly every 90 days. During each quarterly refresh, one of the underlying ETFs recalibrates its upside cap and downside buffer. This methodical approach ensures perpetual risk mitigation for PBQQ, effectively smoothing out market timing dependencies often associated with shorter-term buffer strategies. For investor transparency, daily updates regarding the fund's exposure to its underlying ETFs, along with current cap and buffer levels, are readily accessible on the issuer's website. ### What is the expense ratio of PBQQ? PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) charges an expense ratio of 0.50%. This is the annual fee deducted from fund assets to cover management and operations. ### What is PBQQ's dividend yield? PBQQ's trailing-twelve-month yield is 0.01%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of PBQQ? Effective duration measures PBQQ's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PBQQ's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of PBQQ? PBQQ's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of PBQQ? Yield to maturity (YTM) is the total return you'd earn from PBQQ if every bond in the portfolio is held to maturity at the current price. PBQQ's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does PBQQ pay a dividend? Yes, PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) distributes dividends to shareholders. The trailing-twelve-month yield is 0.01%. Full dividend history is on this page. ### How often does PBQQ pay dividends? PGIM Laddered Nasdaq-100 Buffer 12 ETF pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is PBQQ's next ex-dividend date? The most recently announced ex-dividend date for PBQQ was 2025-12-30. The next ex-date typically follows Irregular; once announced it appears at the top of the dividend history table on this page. ### How much will PBQQ'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 PBQQ charge its expense ratio? The expense ratio is deducted in tiny daily slices from PBQQ'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 PBQQ cost more than a fund like VOO? PBQQ'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 PBQQ sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to PBQQ? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PBQQ (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/pbqq - Distribution history: https://www.dividenddata.com/funds/pbqq/dividend - Holdings & diversification: https://www.dividenddata.com/funds/pbqq/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/pbqq/expenses - Peer comparison: https://www.dividenddata.com/funds/pbqq/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.