ETF Evaluator: PGIM S&P 500 Quarterly Buffer 5 ETF (PQV) Follow This ETF

PGIM S&P 500 Quarterly Buffer 5 ETF Overview

PGIM S&P 500 Quarterly Buffer 5 ETF (PQV) is an actively managed Nontraditional Equity Defined Outcome exchange-traded fund (ETF). PGIM launched the ETF in 2026.

The investment seeks to provide investors with returns that match the price return of the State Street® SPDR® S&P 500® ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 5% (before fees and expenses) of the State Street® SPDR® S&P 500® ETF Trust’s losses over an approximate three-month Target Outcome Period. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments, including derivatives, that provide exposure to securities included in the S&P 500® Index. -null-. It is non-diversified.

About PGIM S&P 500 Quarterly Buffer 5 ETF (PQV)

There are 3 members of the management team with an average tenure of 0.08 years: Devang Gambhirwala (2026), Marco Aiolfi (2026) and John Hall (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.

PGIM S&P 500 Quarterly Buffer 5 ETF has 6 securities in its portfolio. The top 10 holdings constitute 102.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

PGIM S&P 500 Quarterly Buffer 5 ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. PGIM S&P 500 Quarterly Buffer 5 ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.1% There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PGIM S&P 500 Quarterly Buffer 5 ETF has 1.4% of the portfolio in cash.

Assets Under Management

The fund has $2 million in total assets, which is below the $183 million average for the Defined Outcome category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

PQV Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PGIM S&P 500 Quarterly Buffer 5 ETF expense ratio is average compared to funds in the Defined Outcome category. PGIM S&P 500 Quarterly Buffer 5 ETF has an expense ratio of 0.50%, which is 30% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. PGIM S&P 500 Quarterly Buffer 5 ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 3% for the Defined Outcome category.

Recently, in the month of July 2026, PGIM S&P 500 Quarterly Buffer 5 ETF returned 0.5%, which earned it a grade of C, as the Defined Outcome category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

PGIM S&P 500 Quarterly Buffer 5 ETF has a trailing yield of 0.00%, which is below the 0.48% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about PGIM S&P 500 Quarterly Buffer 5 ETF, including its riskiness, submit your email to unlock the rest of the article.