PMAU PGIM S&P 500 Max Buffer ETF - August
Absorbs the whole loss on SPY and caps the gain at 7.9%, over a period ending Jul 31, 2027
As of Sep 11, 2026, PMAU sits between its buffer and its cap, with SPY up 2.3% since the period began.
Key facts
313th of 380 buffer ETFs by net assets 353rd of 380 buffer ETFs by how soon they reset
In plain words
The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.3% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 323 days remained on Sep 11, 2026. On Jul 31, 2027 the period ends and a new cap is set.
| Reference index | SPY |
|---|---|
| Buffer | 100% |
| Outcome period | Aug 1, 2026 to Jul 31, 2027 |
| Starting cap | +7.9% |
| SPY return since period start | +2.3% |
| Fund return since period start | +0.6% |
| Net assets (issuer page, as of Sep 11, 2026) | $6m |
| Band state today (ETFIQ) | Open |
| Can still gain (issuer, fund price) | 6.7% |
| Fall before buffer (issuer, fund price) | 1.1% |
| Fall to the buffer in index terms (ETFIQ) | 2.3% |
| Protection left in index points (ETFIQ) | 100.0% of 100.0% |
| Days left in period | 323 |
| Expense ratio (issuer data, Sep 11, 2026) | 0.50% |
Issuer-published figures as of the date shown; ETFIQ calculations marked. Definitions on the learn page. How these figures are computed
Questions people ask
- How much can PMAU still gain?
- About 6.7% from its price on Sep 11, 2026, before it reaches its cap, by the issuer's published figure. The cap for the period was set at +7.9%.
- How far can PMAU fall before the buffer helps?
- 1.1% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPY can fall 2.3% from that level before the buffer begins. Losses until that point are the holder's.
- How much of the PMAU buffer is left?
- 100.0% of the 100.0% buffer sat below the SPY level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.
- When does PMAU reset?
- The outcome period ends on Jul 31, 2027, 323 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.
- What does PMAU cost?
- The prospectus expense ratio is 0.50% a year.
The words on this page
- Buffer
- The first slice of loss the fund absorbs for you over its outcome period, stated on the reference index. A 15% buffer means the index can fall 15% before you take any of it.
- Cap
- The most the fund can return over the period, however far the index rises. It is the price paid for the buffer.
- Outcome period
- The window the buffer and cap apply over, usually a year. Both are set at the start and only hold if you are there for the whole of it.
- Reset
- The day one outcome period ends and the next begins, with a fresh buffer and a fresh cap struck at that day’s level.
- Protection left
- The part of the buffer still below today’s index level. A buffer bought mid-period is not the full buffer; this is what is left of it.
Every term used here, defined in full on the buffer ETFs vocabulary page.
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.
Compare PMAU
Funds near this one
Put this on your own page
The outcome band for PMAU, redrawn every trading night. Free to use with the credit link.
Where PMAU is written about
Use this data, or open the live card
Open PMAU live on ETFIQ, where the figures refresh with the data.
Cite this page. ETFIQ, PMAU, buffer ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/PMAU Free to use with attribution; the underlying files are at Open data.