- What does PQJL invest in?
- The PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) is designed to mitigate potential declines in the Invesco QQQ Trust (QQQ). It employs an options-based strategy, which resets each July, to achieve this. Over a one-year period, it aims to shield investors from the first 12% of QQQ's price depreciation. In exchange for this downside protection, the fund forgoes any gains from QQQ exceeding a predetermined, annually reset upside cap. Crucially, this buffer pertains only to QQQ's share price movements and does not incorporate its dividend component, as the underlying options are based on price performance, not total return. Should QQQ's value fall beyond the initial 12% buffer, the fund will experience subsequent losses on a one-to-one basis. To fully benefit from the intended buffer and cap, shareholders must retain their investment until the conclusion of the one-year outcome period. Investors acquiring shares on a date other than the annual reset may encounter different protection levels and cap thresholds. The issuer provides current cap levels on its website for transparency. It's imperative to recognize that the advertised cap and buffer targets do not account for the fund's expense ratio. This actively managed fund exclusively utilizes FLEX options within its investment strategy.
- What is the expense ratio of PQJL?
- PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) charges an expense ratio of 0.50%. This is the annual fee deducted from fund assets to cover management and operations.
- How big is PQJL?
- PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) manages $21.3M 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 PQJL actively managed or an index fund?
- PQJL's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
- When was PQJL launched?
- PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) launched in December 2024 and is managed by PGIM.
- How has PQJL performed?
- PQJL'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.
