# PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/pqap 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 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 P... ## Key Facts | Metric | Value | |---|---| | Price | $33.00 | | Expense Ratio | 0.50% | | Assets Under Management | $32.3M | | NAV | $33.00 | | Holdings Count | 0 | | Distribution Yield (TTM) | 0.01% | | Annual Distribution (TTM) | $0.00 /share | | Distribution Frequency | Irregular | | 52-Week Range | $27.83 – $33.27 | | Beta | 0.43 | ## Latest Distribution - Amount: $0.0049 /share - Ex-date: 2025-12-30 - Pay date: 2026-01-02 ## Frequently Asked Questions ### 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 $32.3M 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 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. ### Does PQAP pay a dividend? PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) currently distributes little or no income. Trailing-twelve-month yield is 0.01%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does PQAP pay dividends? PGIM Nasdaq-100 Buffer 12 ETF - April pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is PQAP's dividend yield? PQAP's trailing-twelve-month yield is 0.01%, calculated from the sum of dividends over the past year divided by the current price. ### When is PQAP's next ex-dividend date? The most recently announced ex-dividend date for PQAP 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 PQAP'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 PQAP charge its expense ratio? The expense ratio is deducted in tiny daily slices from PQAP'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 PQAP cost more than a fund like VOO? PQAP'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 PQAP sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to PQAP? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PQAP (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/pqap - Distribution history: https://www.dividenddata.com/funds/pqap/dividend - Holdings & diversification: https://www.dividenddata.com/funds/pqap/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/pqap/expenses - Peer comparison: https://www.dividenddata.com/funds/pqap/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.