BUFP ETF — PGIM Laddered Fund of Buffer 12 ETF

PGIM Laddered Fund of Buffer 12 ETF (BUFP)

Updated October 16, 2026.

BUFP is an ETF. its distribution rate is 0.01%, its trailing-12-month yield is 0.01%, its expense ratio is 0.50%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 31.4% over the past 2.3 years, 13.5 points behind SPY at 44.9%.

PGIM Laddered Fund of Buffer 12 ETF is a fund that provides U.S. large-cap equity exposure through a laddered portfolio of twelve PGIM S&P 500 Buffer 12 ETFs, each designed to offer downside buffer protection at different levels. The fund has a very modest current distribution rate and distributes annually, with an expense ratio of 0.50%. It appeals to equity investors seeking potential downside protection strategies combined with large-cap market exposure.

BUFP performance versus SPY

Price and return data through 2026-10-16.

Total return is 31.4% over the past 2.3 years, 13.5 points behind SPY at 44.9%. Over the past year its total return — price change plus distributions reinvested — is 12.7%. Its deepest 1-year drawdown was 4.4%.

BUFP key facts

Distribution Safety Score™

50 · Unproven

Issuer

PGIM Investments

Asset type

ETF

Asset class

Equity

Inception date

06/11/2024

Expense ratio

0.50%

Distribution rate

0.01%

Distribution frequency

Annual

Trailing yield

0.01%

Last close

$32.95 (as of 2026-10-16)

AUM

$259,806,942

Average volume

28099.0

Dividend

$0.00239

Ex-dividend date

12/30/2025

Payment date

01/02/2026

Beta

0.4801

How Dividend Vision calculates yield and returns

Distribution rate (0.01%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.01%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: PGIM Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

BUFP risks and drawbacks

BUFP's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 4.4%.

Who may consider BUFP — and who may not

It is a weaker fit for investors who need monthly cash flow (BUFP pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on BUFP

• All tickers starting with B

Tagged: Downside Protection, Options, Target.

Frequently asked questions

More securities from PGIM Investments.