- What does PMMY invest in?
- PMMY 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 May. 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 PMMY?
- PGIM Rock ETF Trust - PGIM S&P 500 Max Buffer ETF - May (PMMY) charges an expense ratio of 0.50%. This is the annual fee deducted from fund assets to cover management and operations.
- What is PMMY's distribution yield?
- PMMY's trailing-twelve-month yield is —, calculated from the sum of distributions over the past year divided by the current price.
- How does PMMY's covered-call strategy work?
- PMMY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside — when the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.
- How big is PMMY?
- PGIM Rock ETF Trust - PGIM S&P 500 Max Buffer ETF - May (PMMY) manages $5.4M 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 PMMY actively managed or an index fund?
- PMMY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
