- What does PQAP invest in?
- PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) is an actively managed fund designed to reduce the impact of potential losses from the Invesco QQQ Trust (QQQ) over a distinct one-year period, beginning every April. This is achieved through a specialized options strategy. While the fund aims to shield investors from the first 12% of QQQ's price depreciation during this cycle, it requires a trade-off: investors forego any upside participation beyond a specific, annually reset cap. Additionally, because the underlying options are tied to QQQ's price rather than its total return, shareholders of PQAP will not benefit from QQQ's dividend payments. If QQQ's value declines by more than 12%, the fund will incur losses on a dollar-for-dollar basis beyond that initial buffer. It is critical for investors to hold their shares until the end of the outcome period to fully benefit from the intended buffer and cap structure; purchasing shares on any date other than the annual reset day will result in a modified protection and upside limit. The fund's issuer publishes the current interim cap levels on its website. Investors should also note that the specified cap and buffer figures do not factor in the fund's expense ratio. This strategy relies solely on the use of FLEX options.
- What is the expense ratio of PQAP?
- PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) charges an expense ratio of 0.50%. This is the annual fee deducted from fund assets to cover management and operations.
- How big is PQAP?
- PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) manages $26.2M 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 PQAP actively managed or an index fund?
- PQAP's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
- When was PQAP launched?
- PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) launched in December 2024 and is managed by PGIM.
- How has PQAP performed?
- PQAP'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.
