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PBAP ETF — PGIM US Large-Cap Buffer 20 ETF - April
PGIM US Large-Cap Buffer 20 ETF - April (PBAP)
Updated October 16, 2026.
PBAP is an ETF. its expense ratio is 0.50%. Total return is 26.8% over the past 2.5 years, 23.7 points behind SPY at 50.5%.
PGIM US Large-Cap Buffer 20 ETF - April is an actively managed ETF that provides exposure to large-capitalization U.S. companies through customized equity option contracts on the SPDR S&P 500 ETF Trust, designed to offer downside protection while maintaining upside participation. The fund does not currently distribute income, with an expense ratio of 0.50%. It may appeal to equity investors seeking large-cap exposure with built-in downside hedging rather than those focused on current income generation.
PBAP holdings and sector exposure
Holdings are not available for this snapshot.
PBAP performance versus SPY
Price and return data through 2026-10-16.
Total return is 26.8% over the past 2.5 years, 23.7 points behind SPY at 50.5%. Over the past year its total return — price change plus distributions reinvested — is 11.9%. Its deepest 1-year drawdown was 1.2%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 0.8% | — |
| 3M | 1.9% | — |
| 6M | 4.5% | — |
| YTD | 9.5% | — |
| 1Y | 11.9% | — |
| 2Y CAGR | — | 8.70% |
| Since inception (2.5 years) | 26.8% | 9.80% |
PBAP key facts
- Issuer
- PGIM Investments
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 03/28/2024
- Expense ratio
- 0.50%
- Distribution frequency
- None
- Last close
- $31.73 (as of 2026-10-16)
- AUM
- $37,869,880
- Average volume
- 1134.0
- Beta
- 0.1953
How Dividend Vision calculates yield and returns
Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield 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.
PBAP risks and drawbacks
Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 1.2%.
Who may consider PBAP — and who may not
It is a weaker fit for investors who need monthly cash flow (PBAP does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
More on PBAP
Frequently asked questions
Does PBAP pay monthly?
No. PBAP does not currently distribute.
What is PBAP's expense ratio?
PBAP's expense ratio is 0.50%.
When does PBAP pay a dividend?
PBAP does not currently distribute.
How has PBAP performed?
Total return is 26.8% over the past 2.5 years, 23.7 points behind SPY at 50.5%. Over the past year its total return — price change plus distributions reinvested — is 11.9%. Its deepest 1-year drawdown was 1.2%.
More securities from PGIM Investments.
Tickers
Holdings as-of date unavailable.
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