{
 "ticker": "PBFR",
 "name": "PGIM Laddered S&P 500 Buffer 20 ETF",
 "issuer": "PGIM",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/pbfr",
 "html": "https://etfiq.com/funds/pbfr",
 "markdown": "https://etfiq.com/funds/pbfr.md",
 "as_of": "2026-10-09",
 "verdict": "As of Oct 9, 2026, PBFR's 12 sleeves can still gain 5.7% on average and can fall 5.4% before their buffers.",
 "key_facts": [
  {
   "key": "can_still_gain_weighted",
   "label": "Can still gain, weighted",
   "value": "5.7%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "PBFR, can still gain, weighted: 5.7%, as of Oct 9, 2026."
  },
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "5.4%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "PBFR, fall before the buffers, weighted: 5.4%, as of Oct 9, 2026."
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "20.0%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "PBFR, protection left, weighted, index points: 20.0%, as of Oct 9, 2026."
  },
  {
   "key": "days_to_the_next_reset",
   "label": "Days to the next reset",
   "value": "22",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "PBFR, days to the next reset: 22, as of Oct 9, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$204m on Jul 31, 2026",
   "source": "N-PORT",
   "as_of": "2026-10-09",
   "sentence": "PBFR, net assets: $204m on Jul 31, 2026 (N-PORT)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.50%",
   "source": "485BPOS XBRL, Feb 20, 2026",
   "as_of": "2026-10-09",
   "sentence": "PBFR, expense ratio: 0.50% (485BPOS XBRL, Feb 20, 2026)."
  }
 ],
 "fields": [
  {
   "key": "kind",
   "label": "Kind",
   "value": "Laddered buffer ETF: a fund of 12 buffer ETFs",
   "source": null
  },
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "SPY",
   "source": null
  },
  {
   "key": "sleeves",
   "label": "Sleeves",
   "value": "PBNV, PBDE, PBJA, PBFB, PBMR, PBAP, PBMY, PBJN, PBJL, PBAU, PBSE, PBOC",
   "source": null
  },
  {
   "key": "sleeve_outcome_periods",
   "label": "Sleeve outcome periods",
   "value": "about 12 months each, ending on 12 different dates",
   "source": null
  },
  {
   "key": "weights",
   "label": "Weights",
   "value": "its report for Jul 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "share_of_net_assets_in_the_sleeves_etfiq_reads",
   "label": "Share of net assets in the sleeves ETFIQ reads",
   "value": "99.96%",
   "source": null
  },
  {
   "key": "can_still_gain_weighted",
   "label": "Can still gain, weighted",
   "value": "5.7%",
   "source": "ETFIQ"
  },
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "5.4%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "20.0%",
   "source": "ETFIQ"
  },
  {
   "key": "next_sleeve_to_reset",
   "label": "Next sleeve to reset",
   "value": "PBNV on Oct 31, 2026, in 22 days",
   "source": null
  },
  {
   "key": "days_left_weighted",
   "label": "Days left, weighted",
   "value": "189",
   "source": "ETFIQ"
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$204m on Jul 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.50%",
   "source": "485BPOS XBRL, Feb 20, 2026"
  },
  {
   "key": "sleeve_pbnv_8_33_of_net_assets",
   "label": "Sleeve PBNV, 8.33% of net assets",
   "value": "SPY, period ends Oct 31, 2026, can still gain 0.6%, fall before buffer 9.8%",
   "source": null
  },
  {
   "key": "sleeve_pbde_8_33_of_net_assets",
   "label": "Sleeve PBDE, 8.33% of net assets",
   "value": "SPY, period ends Nov 30, 2026, can still gain 1.4%, fall before buffer 8.8%",
   "source": null
  },
  {
   "key": "sleeve_pbja_8_33_of_net_assets",
   "label": "Sleeve PBJA, 8.33% of net assets",
   "value": "SPY, period ends Dec 31, 2026, can still gain 2.0%, fall before buffer 7.7%",
   "source": null
  },
  {
   "key": "sleeve_pbfb_8_33_of_net_assets",
   "label": "Sleeve PBFB, 8.33% of net assets",
   "value": "SPY, period ends Jan 31, 2027, can still gain 2.9%, fall before buffer 7.0%",
   "source": null
  },
  {
   "key": "sleeve_pbmr_8_33_of_net_assets",
   "label": "Sleeve PBMR, 8.33% of net assets",
   "value": "SPY, period ends Feb 28, 2027, can still gain 3.4%, fall before buffer 6.8%",
   "source": null
  },
  {
   "key": "sleeve_pbap_8_33_of_net_assets",
   "label": "Sleeve PBAP, 8.33% of net assets",
   "value": "SPY, period ends Mar 31, 2027, can still gain 3.6%, fall before buffer 8.0%",
   "source": null
  },
  {
   "key": "sleeve_pbmy_8_33_of_net_assets",
   "label": "Sleeve PBMY, 8.33% of net assets",
   "value": "SPY, period ends Apr 30, 2027, can still gain 5.9%, fall before buffer 4.9%",
   "source": null
  },
  {
   "key": "sleeve_pbjn_8_34_of_net_assets",
   "label": "Sleeve PBJN, 8.34% of net assets",
   "value": "SPY, period ends May 31, 2027, can still gain 8.7%, fall before buffer 3.0%",
   "source": null
  },
  {
   "key": "sleeve_pbjl_8_33_of_net_assets",
   "label": "Sleeve PBJL, 8.33% of net assets",
   "value": "SPY, period ends Jun 30, 2027, can still gain 8.7%, fall before buffer 3.2%",
   "source": null
  },
  {
   "key": "sleeve_pbau_8_31_of_net_assets",
   "label": "Sleeve PBAU, 8.31% of net assets",
   "value": "SPY, period ends Jul 31, 2027, can still gain 9.1%, fall before buffer 2.8%",
   "source": null
  },
  {
   "key": "sleeve_pbse_8_33_of_net_assets",
   "label": "Sleeve PBSE, 8.33% of net assets",
   "value": "SPY, period ends Aug 31, 2027, can still gain 10.7%, fall before buffer 1.5%",
   "source": null
  },
  {
   "key": "sleeve_pboc_8_33_of_net_assets",
   "label": "Sleeve PBOC, 8.33% of net assets",
   "value": "SPY, period ends Sep 30, 2027, can still gain 11.2%, fall before buffer 1.5%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+2.3%",
   "SPY price return": "+3.1%",
   "Gap to SPY": "\u22120.8 pts"
  },
  {
   "window": "6 months",
   "Total return": "+6.6%",
   "SPY price return": "+14.6%",
   "Gap to SPY": "\u22128.0 pts"
  },
  {
   "window": "1 year",
   "Total return": "+9.9%",
   "SPY price return": "+16.0%",
   "Gap to SPY": "\u22126.1 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+25.6%",
   "SPY price return": "+43.5%",
   "Gap to SPY": "\u221217.9 pts"
  }
 ],
 "questions": [
  {
   "q": "What does PBFR hold?",
   "a": "PBFR holds 12 buffer ETFs: PBNV, PBDE, PBJA, PBFB, PBMR, PBAP, PBMY, PBJN, PBJL, PBAU, PBSE, PBOC. Its N-PORT for Jul 31, 2026 puts 100.0% of its net assets in them."
  },
  {
   "q": "How much can PBFR still gain?",
   "a": "Weighted by its N-PORT, PBFR's sleeves can still gain 5.7% as of Oct 9, 2026, each sleeve's issuer figure in fund-price terms."
  },
  {
   "q": "When does PBFR reset?",
   "a": "PBFR itself does not reset. Each sleeve resets on its own date; the next is PBNV on Oct 31, 2026, in 22 days."
  }
 ],
 "generated": "2026-10-09",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, PBFR, buffer ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/pbfr"
}