PGIM S&P 500 Max Buffer ETF - February

Frequently Asked Questions About PMFB

What does PMFB invest in?

PMFB uses FLEX options to match the price returns of SPDR S&P 500 ETF Trust (SPY), up to a predetermined upside cap of at least 3%, while seeking to provide the maximum available buffer of 100% over a one year period starting in February. At the end of the target outcome period, the upside cap and downside buffer for the new target outcome period are reset to prevailing market conditions. If the fund is not able to set the maximum buffer against 100% of the losses, then it would seek to adjust the cap. Likewise, if the fund cannot set a cap of at least 3%, then it would seek to adjust the maximum buffer instead. To achieve the target outcomes sought by the fund for a target outcome period, an investor must hold fund shares for that entire target outcome period.

What is the expense ratio of PMFB?

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

How big is PMFB?

PGIM S&P 500 Max Buffer ETF - February (PMFB) manages $6.1M 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 PMFB actively managed or an index fund?

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

When was PMFB launched?

PGIM S&P 500 Max Buffer ETF - February (PMFB) launched in January 2025 and is managed by PGIM.

How has PMFB performed?

PMFB'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.