PGIM S&P 500 Max Buffer ETF - July (PMJL)

The PGIM S&P 500 Max Buffer ETF - July (PMJL) is a defined outcome ETF from PGIM. It aims to deliver S&P 500 price returns up to a cap while seeking to shield investors from the full extent of index losses over an annual outcome period that begins each July.

The fund implements its strategy with FLEX options. In exchange for the downside buffer, upside is limited by a cap that resets at the beginning of each outcome period. Buying shares mid-period changes the protection and cap an investor actually receives.

PMJL trades on Cboe BZX.