# PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/pqjl 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 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 p... ## Key Facts | Metric | Value | |---|---| | Price | $30.76 | | Expense Ratio | 0.50% | | Assets Under Management | $28.0M | | NAV | $30.79 | | Holdings Count | 0 | | Distribution Yield (TTM) | 0.01% | | Annual Distribution (TTM) | $0.00 /share | | Distribution Frequency | Irregular | | 52-Week Range | $27.72 – $32.25 | | Beta | 0.64 | ## Latest Distribution - Amount: $0.0017 /share - Ex-date: 2025-12-30 - Pay date: 2026-01-02 ## Frequently Asked Questions ### 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 $28.0M 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. ### Does PQJL pay a dividend? PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) 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 PQJL pay dividends? PGIM Nasdaq-100 Buffer 12 ETF - July pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is PQJL's dividend yield? PQJL'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 PQJL's next ex-dividend date? The most recently announced ex-dividend date for PQJL 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 PQJL'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 PQJL charge its expense ratio? The expense ratio is deducted in tiny daily slices from PQJL'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 PQJL cost more than a fund like VOO? PQJL'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 PQJL sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to PQJL? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PQJL (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/pqjl - Distribution history: https://www.dividenddata.com/funds/pqjl/dividend - Holdings & diversification: https://www.dividenddata.com/funds/pqjl/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/pqjl/expenses - Peer comparison: https://www.dividenddata.com/funds/pqjl/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.