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PBL ETF — PGIM Portfolio Ballast ETF
PGIM Portfolio Ballast ETF (PBL)
Updated October 16, 2026.
Verdict as of October 16, 2026
PBL's distribution is rated unproven by the Dividend Vision Distribution Safety Score™ (50/100, medium confidence). It pays annual and its distribution rate is 2.05%. The latest total cash payment per current share, $0.684 with an ex-date of December 30, 2025, was 64.7% lower than the previous $1.94. These payments are unclassified; this does not establish a base-dividend change.
Sources: PGIM Investments, Section 19a-1 notices, scoring methodology.
PBL is an ETF. its distribution rate is 2.05%, its trailing-12-month yield is 2.05%, its expense ratio is 0.45%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 56.2% over the past 3.8 years, 45.1 points behind SPY at 101.3%.
PGIM Portfolio Ballast ETF seeks to capture stock market upside while limiting volatility through a strategy combining S&P 500 options and futures contracts with U.S. Treasury securities, futures, and cash. The fund carries a modest current distribution rate and pays distributions annually, with a low expense ratio of 0.45%.
PBL dividend yield and income
Price as of 2026-10-16.
The distribution rate (2.05%) uses calculation basis unavailable. Trailing-12-month yield (2.05%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.68399. The ex-dividend date is 12/30/2025.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2025-12-30 | $0.68399 | -64.7% Unclassified cash |
| 2024-12-27 | $1.93766 | -4.8% Unclassified cash |
| 2023-12-27 | $2.0357 | 5261.3% Unclassified cash |
| 2022-12-28 | $0.03797 | — |
| 2022 total (partial launch year) | $0.03797 | — |
| 2023 total | $2.0357 | — |
| 2024 total | $1.93766 | -4.8% |
| 2025 total | $0.68399 | -64.7% |
PBL dividend growth
Trailing-12-month distributions versus the preceding 12 months changed -64.7%. The 1Y row below uses this same adjacent TTM cash-window comparison.
| Window | Change |
|---|---|
| 1Y | -64.7% |
PBL holdings and sector exposure
Holdings are not available for this snapshot.
PBL performance versus SPY
Price and return data through 2026-10-16.
Total return is 56.2% over the past 3.8 years, 45.1 points behind SPY at 101.3%. Over the past year its total return — price change plus distributions reinvested — is 10.7%. Its deepest 1-year drawdown was 5.8%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 1.1% | — |
| 3M | 0.2% | — |
| 6M | 5.8% | — |
| YTD | 8.0% | — |
| 1Y | 10.7% | — |
| 2Y CAGR | — | 10.30% |
| 3Y CAGR | — | 14.70% |
| Since inception (3.8 years) | 56.2% | 12.30% |
PBL key facts
- Distribution Safety Score™
- 50 · Unproven
- Issuer
- PGIM Investments
- Asset type
- ETF
- Asset class
- Fixed Income
- Inception date
- 12/12/2022
- Expense ratio
- 0.45%
- Distribution rate
- 2.05%
- Distribution frequency
- Annual
- Trailing yield
- 2.05%
- Last close
- $33.38 (as of 2026-10-16)
- AUM
- $71,791,311
- Average volume
- 3004.0
- Dividend
- $0.68399
- Ex-dividend date
- 12/30/2025
- Beta
- 0.85
How Dividend Vision calculates yield and returns
Distribution rate (2.05%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (2.05%) 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.
PBL risks and drawbacks
PBL'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 5.8%.
Who may consider PBL — and who may not
PBL may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (PBL 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 PBL
Frequently asked questions
Does PBL pay monthly?
No. PBL currently pays annual, not monthly.
What is PBL's expense ratio?
PBL's expense ratio is 0.45%.
What is PBL's dividend yield?
PBL's distribution rate is 2.05%, paid annual, with a 0.45% expense ratio — calculation basis unavailable.
How has PBL's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed -64.7%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does PBL pay a dividend?
PBL pays annual. The dividend amount is $0.68399. The ex-dividend date is 12/30/2025.
How has PBL performed?
Total return is 56.2% over the past 3.8 years, 45.1 points behind SPY at 101.3%. Over the past year its total return — price change plus distributions reinvested — is 10.7%. Its deepest 1-year drawdown was 5.8%.
Is PBL a good investment?
PBL's Dividend Vision Distribution Safety Score is 50 (Unproven). That is a risk signal, not investment advice. Its distribution rate is 2.05% (calculation basis unavailable). Compare peers below rather than treating any single figure as a buy or sell.
More securities from PGIM Investments.
Tickers
Holdings as-of date unavailable.
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