ETF Evaluator:
PGIM Nasdaq-100 Buffer 12 ETF - October ()
Follow This ETF
(as of Aug 26)
Best Performing in Defined Outcome Over the Last Year
| 23.7% | Innovator U.S. Small Cp Pwr Buf ETF -Nov (KNOV) |
| 23.2% | Innovator U.S. Small Cp Pwr Buf ETF -Feb (KFEB) |
| 21.9% | Innovator U.S. Small Cp Pwr Buf ETF -Mar (KMAR) |
| 21.9% | Innovator US Small Cap Pwr Buff ETF™ Oct (KOCT) |
| 21.1% | FT Vest U.S. Small Cap Mod Buf ETF-Feb (SFEB) |
Risk
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Risk
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ETF Details
PGIM Nasdaq-100 Buffer 12 ETF - October Overview
PGIM Nasdaq-100 Buffer 12 ETF - October (PQOC) is an actively managed Nontraditional Equity Defined Outcome exchange-traded fund (ETF). PGIM launched the ETF in 2024.
The investment seeks to provide investors with returns that match the price return of the Invesco QQQ TrustSM.
The fund will invest substantially all of its assets in customized equity or index option contracts known as FLexible EXchange® Options (“FLEX Options”) on the Invesco QQQ Trust℠, Series 1 (the “Underlying ETF”). The fund is non-diversified.
About PGIM Nasdaq-100 Buffer 12 ETF - October (PQOC)
There are 3 members of the management team with an average tenure of 1.59 years: Devang Gambhirwala (2024), Marco Aiolfi (2024) and John Hall (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: NASDAQ 100 PR USD index with a weighting of 100%. PGIM Nasdaq-100 Buffer 12 ETF - October has 6 securities in its portfolio. The top 10 holdings constitute 107.2% 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 Nasdaq-100 Buffer 12 ETF - October is part of the Equity global asset class and is within the Nontraditional Equity ETF group. PGIM Nasdaq-100 Buffer 12 ETF - October has 2.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.8% There is 2.7% 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 Nasdaq-100 Buffer 12 ETF - October has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $22 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.
PQOC 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 Nasdaq-100 Buffer 12 ETF - October expense ratio is average compared to funds in the Defined Outcome category. PGIM Nasdaq-100 Buffer 12 ETF - October 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 Nasdaq-100 Buffer 12 ETF - October 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 Nasdaq-100 Buffer 12 ETF - October returned -0.8%, which earned it a grade of F, 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 Nasdaq-100 Buffer 12 ETF - October 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.
PGIM Nasdaq-100 Buffer 12 ETF - October Grades
Year to date, the ETF has returned 8.5%, 2.7 percentage points better than the category, which translates into a grade of A. The fund has returned 14.6% over the past year (grade of A).
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PQOC Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PQOC Return (NAV) | -0.8% | 2.9% | 14.6% | na | na | na |
| PQOC Return (Price) | 0.4% | 2.9% | 14.6% | na | na | na |
| NAV +/- Price Return | -1.151% | -0.054% | 0.041% | na | na | na |
| Defined Outcome Avg | 0.2% | 2.2% | 11.3% | 11.8% | 8.6% | na |
| PQOC Grade (NAV) | F | B | A | na | na | na |
| +/- Category (NAV) | -1.0% | 0.7% | 3.3% | na | na | na |
| PQOC Tax-Cost Ratio | na | na | 0.0% | na | na | na |
PQOC Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PQOC Return (NAV) | 8.5% | 14.3% | na | na | na | na | na | na | na | na | na |
| PQOC Return (Price) | 8.0% | 14.9% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.057% | 0.044% | na | na | na | na | na | na | na | na | na |
| Defined Outcome Avg | 5.8% | 11.3% | 12.4% | 18.5% | -8.8% | 9.7% | 7.7% | 16.4% | -6.7% | 15.8% | na |
| PQOC Grade (NAV) | A | A | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.7% | 3.0% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 22 Mil |
| Share Class Assets: | $ 22 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.50% |
| Index Fund: | No |
| Index Tracked: | NASDAQ 100 PR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.6 years | |||
| Average Tenure: 1.6 years | |||
| Managers (Year): Gambhirwala Devang (2024), Aiolfi Marco (2024), Hall John (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 6 |
| % in Top 10 Holdings: | 107.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.7% |
Portfolio Allocation |
|
| Domestic Stock: | 96.8% |
| Foreign Stock: | 2.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | PGIM |
| Phone Number: | 888-247-8090 |
| Website: | |
| Inception Date: | December 27, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.72% |
