ETFs
PGIM launches two new laddered buffer ETFs
PGIM has launched two new fund of funds ETFs that will invest in the company’s 12 monthly buffer ETFs. started to throw in January.
THE PGIM Buffer 12 ETF Ladder Fund (BUFP) will seek an equally weighted investment in each of the 12 PGIM US Large-Cap Buffer 12 ETFs while the Buffer 20 ETF PGIM Laddered Fund (PBFR) will do the same for the 12 PGIM US LargeCap Buffer 20 ETFs.
The 24 buffer ETFs track the performance of the SPDR S&P 500 ETF Trust (SPY), but use options trading to cap potential losses at no more than 12% for the PGIM US Large-Cap Buffer 12 ETFs and 20% for the 12 PGIM US Large-Cap Buffer 20 ETFs.