PGIM Laddered S&P 500 Buffer 20 ETF

PGIM Laddered S&P 500 Buffer 20 ETF is an exchange-traded fund designed to provide U.S. large-cap equity exposure through a laddered portfolio of twelve PGIM S&P 500 Buffer 20 ETFs. It is built as a fund-of-funds structure that spreads investments across buffer ETFs with staggered outcome periods, each seeking to limit downside exposure on the S&P 500 while participating in market gains up to a cap. The ETF is actively managed and rebalances periodically to maintain its equal-weight allocation across the underlying buffer funds. PBFR is used by investors looking for a single-ticker way to access a diversified, rules-based buffer strategy within U.S. equities. The fund focuses on large-cap stocks through its underlying holdings and is positioned as part of PGIM’s outcome-oriented ETF lineup.