Data as of .
PBJL vs PMJL: which one stands where?
As of Sep 21, 2026 PBJL can fall 2.7% before its buffer engages and PMJL 1.7%.
These are two different products. PMJL is a floor fund, which caps how far a holder can fall. PBJL is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are PGIM funds, so the difference between them is the terms rather than the house.
Where each one stands today
PBJL resets first, on Jun 30, 2027, 282 days from now; PMJL runs to Jun 30, 2027, 282 days. PBJL can still gain 9.3% before its cap, PMJL 6.1%. A fall from here reaches PBJL’s buffer after 2.7% and PMJL’s after 1.7%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| PBJL | PMJL | PBJL | PMJL | |
| 3 months | +1.7% | +1.1% | −0.5 pts | −1.2 pts |
| 6 months | +7.3% | +4.2% | −10.7 pts | −13.8 pts |
| 1 year | +8.4% | +5.6% | −8.1 pts | −11.0 pts |
| PBJL PGIM S&P 500 Buffer 20 ETF - July Absorbs the first 20% of loss on SPY and caps the gain at 12.3%, over a period ending Jun 30, 2027 | PMJL PGIM S&P 500 Max Buffer ETF - July Absorbs the whole loss on SPY and caps the gain at 8.0%, over a period ending Jun 30, 2027 | |
|---|---|---|
| Issuer | PGIM | PGIM |
| Reference index | SPY | SPY |
| Buffer | 20% | 100% |
| Outcome period | Jul 1, 2026 to Jun 30, 2027 | Jul 1, 2026 to Jun 30, 2027 |
| Days left | 282 | 282 |
| Starting cap | +12.3% | +8.0% |
| Can still gain | 9.3% | 6.1% |
| Fall before buffer | 2.7% | 1.7% |
| Protection left, index points | 20.0% of 20.0% | 100.0% of 100.0% |
| Index return this period | +3.6% | +3.6% |
| Fund return this period | +2.3% | +1.3% |
| State today | Open | Open |
| Expense ratio | 0.50% | 0.50% |
| Net assets | $73m | $7m |
PBJL in plain words
From its price on Sep 21, 2026, the fund can gain about 9.3% more before it reaches its cap. The fund's price can fall 2.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.5% 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. 282 days remained on Sep 21, 2026. On Jun 30, 2027 the period ends and a new cap is set.
PMJL in plain words
From its price on Sep 21, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 1.7% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.
Questions people ask
- Which has more room to gain, PBJL or PMJL?
- From their prices on Sep 21, 2026, PBJL can gain about 9.3% before its cap and PMJL about 6.1%, so PBJL has more room left this period.
- Which resets first, PBJL or PMJL?
- PBJL ends its outcome period on Jun 30, 2027 and PMJL on Jun 30, 2027. A new cap is set the day after each.
- Which is cheaper, PBJL or PMJL?
- PBJL charges 0.50% a year and PMJL charges 0.50%, so PBJL is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, PBJL against PMJL, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/pbjl-vs-pmjl Free to use with attribution; the underlying files are at Open data.