Data as of .
PBJN vs PMJN: which one stands where?
As of Sep 21, 2026 PBJN can fall 2.5% before its buffer engages and PMJN 1.6%.
These are two different products. PMJN is a floor fund, which caps how far a holder can fall. PBJN 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
PBJN resets first, on May 31, 2027, 252 days from now; PMJN runs to May 31, 2027, 252 days. PBJN can still gain 9.3% before its cap, PMJN 5.8%. A fall from here reaches PBJN’s buffer after 2.5% and PMJN’s after 1.6%. 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 | ||
|---|---|---|---|---|
| PBJN | PMJN | PBJN | PMJN | |
| 3 months | +1.6% | +1.0% | −0.6 pts | −1.3 pts |
| 6 months | +5.2% | +3.0% | −12.8 pts | −15.0 pts |
| 1 year | +6.9% | +4.7% | −9.7 pts | −11.9 pts |
| PBJN PGIM S&P 500 Buffer 20 ETF - June Absorbs the first 20% of loss on SPY and caps the gain at 12.1%, over a period ending May 31, 2027 | PMJN PGIM S&P 500 Max Buffer ETF - June Absorbs the whole loss on SPY and caps the gain at 7.4%, over a period ending May 31, 2027 | |
|---|---|---|
| Issuer | PGIM | PGIM |
| Reference index | SPY | SPY |
| Buffer | 20% | 100% |
| Outcome period | Jun 1, 2026 to May 31, 2027 | Jun 1, 2026 to May 31, 2027 |
| Days left | 252 | 252 |
| Starting cap | +12.1% | +7.4% |
| Can still gain | 9.3% | 5.8% |
| Fall before buffer | 2.5% | 1.6% |
| Protection left, index points | 20.0% of 20.0% | 100.0% of 100.0% |
| Index return this period | +2.3% | +2.3% |
| Fund return this period | +2.1% | +1.1% |
| State today | Open | Open |
| Expense ratio | 0.50% | 0.50% |
| Net assets | $58m | $10m |
PBJN 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 2.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.2% 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. 252 days remained on Sep 21, 2026. On May 31, 2027 the period ends and a new cap is set.
PMJN in plain words
From its price on Sep 21, 2026, the fund can gain about 5.8% more before it reaches its cap. The fund's price can fall 1.6% 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, PBJN or PMJN?
- From their prices on Sep 21, 2026, PBJN can gain about 9.3% before its cap and PMJN about 5.8%, so PBJN has more room left this period.
- Which resets first, PBJN or PMJN?
- PBJN ends its outcome period on May 31, 2027 and PMJN on May 31, 2027. A new cap is set the day after each.
- Which is cheaper, PBJN or PMJN?
- PBJN charges 0.50% a year and PMJN charges 0.50%, so PBJN 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, PBJN against PMJN, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/pbjn-vs-pmjn Free to use with attribution; the underlying files are at Open data.