Are PBNV and SPY in the same category?

PBNV is a buffer ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, PBNV or SPY?

In the year to Oct 28, 2026, with distributions reinvested, PBNV returned +10.9% and SPY +13.6%.

Which is cheaper, PBNV or SPY?

SPY is cheaper, by 0.41 percentage points a year. That is about $41 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

PBNV vs SPY: Differences, Returns & Fees

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Over the year to Oct 28, 2026, PBNV returned +10.9% to SPY's +13.6%, and SPY charges 0.09% to PBNV's 0.50%.

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Net assets: $75m on Oct 28, 2026 for PGIM S&P 500 Buffer 20 ETF - November, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.

PBNV on its own →SPY on its own →

At a glance

+10.9%

PBNV total return, 1 year

+13.6%

SPY total return, 1 year

0.50%

PBNV expense ratio

0.09%

SPY expense ratio

Pair scorecard

SPY costs 0.41 points a year less; their one-year returns differ by 2.7 points; SPY is far larger, $814.8bn against $37m.

PBNV vs SPY: Differences, Returns & Fees
Measure	PBNV	SPY
Return
Measure	PBNV	SPY
Total return, 1 year	+10.9%	+13.6%
Drawdown
Measure	PBNV	SPY
Index fall to the buffer	11.7%
Fund price fall to the buffer	10.2%
Benchmark
Measure	PBNV	SPY
What it tracks	SPY	S&P 500 Index
The outcome period
Measure	PBNV	SPY
Buffer left, in index points	20.0% of 20.0%
Days left in the period	3
Period ends	Oct 31, 2026
Cost and size
Measure	PBNV	SPY
Expense ratio	0.50%	0.09%
Net assets, as of Oct 27, 2026	$37m	$814.8bn
Holdings
Measure	PBNV	SPY
Holdings in common	not published
In the S&P 500, by weight		100%
Top ten holdings, share of the fund		38.1%

Method

Side by side

PBNV PGIM S&P 500 Buffer 20 ETF - November SPY SPDR S&P 500 ETF Trust

Where it sits Buffer ETF Stock ETF

Issuer PGIM State Street

What it is Defined outcome, 20% on SPY Tracks the S&P 500

Total return, 1 year +10.9% +13.6%

Its benchmark over the same days +12.4% (SPY) +13.7% (VOO)

Gap to its benchmark −1.5 pts vs SPY −0.1 pts vs VOO

Expense ratio 0.50% 0.09%

Holdings not read by ETFIQ 504

Net assets, PBNV as of Oct 28, 2026 and SPY as of Oct 27, 2026 $75m $814.8bn

PBNV and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

PBNV

SPY had already risen past this fund's cap of +11.5% for the period on Oct 28, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.1% as the period runs out.

The fund's price can fall 10.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.7% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 3 days remained on Oct 28, 2026. On Oct 31, 2026 the period ends and a new cap is set.

SPY

SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.

Questions people ask

Are PBNV and SPY in the same category?: PBNV is a buffer ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, PBNV or SPY?: In the year to Oct 28, 2026, with distributions reinvested, PBNV returned +10.9% and SPY +13.6%.
Which is cheaper, PBNV or SPY?: SPY is cheaper, by 0.41 percentage points a year. That is about $41 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

PBNV vs VOO PBNV vs SPYM IVV vs PBNV AAPR vs SPY FHDG vs SPY DHDG vs SPY APOC vs SPY SPY vs UMAY

Where to next

PBNV on its own →SPY on its own →Hold both: look the portfolio through →Rankings →SPY dividend history →SPY holdings →Standards and sources →

Sources and dates

PBNV filings on SEC EDGAR ↗

PGIM website ↗

SPY filings on SEC EDGAR ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, PBNV against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/pbnv-vs-spy

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