PGIM S&P 500 Max Buffer ETF - November
PMNV
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Ted Truscott
- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 655 Broad Street Newark NJ United States of America 07102
- IPO Date
- Nov 3, 2025
- CIK
- 0001992104
- Website
- pgim.com
- Similar Companies
- Business
- PGIM Rock ETF Trust - PGIM S&P 500 Max Buffer ETF - November (PMNV) operates as a series of the PGIM Rock ETF Trust, offering an exchange-traded fund that provides investors with capped upside exposure to the S&P 500 Index while buffering against a defined level of losses, specifically targeting a maximum buffer of losses up to 100% for the one-year outcome period ending in November each year; the fund employs FLEX Options strategically combined with S&P 500 Index exposure to achieve its buffer and cap objectives. PGIM Rock ETF Trust, headquartered in Newark, New Jersey, functions under the management of PGIM Investments LLC, a subsidiary of PGIM, the global investment management business of Prudential Financial, Inc., and primarily serves retail and institutional investors seeking outcome-based strategies in the equity-linked notes and defined-outcome ETF segment. The trust was established as part of PGIM's expansion into buffer ETFs, with the PGIM S&P 500 Max Buffer ETF - November launched in late 2023 to address demand for tax-efficient, low-cost buffered strategies amid volatile market conditions. In terms of core offerings, PMNV delivers a one-year outcome period buffer against S&P 500 declines up to 100% as of the end of the November reset period, with a variable cap on upside gains typically ranging from 9% to 15% depending on market conditions and option pricing at launch; it features monthly distributions where applicable, low expense ratios around 0.29%, and daily liquidity on major exchanges like NYSE Arca. The fund targets long-term investors, financial advisors, and retirement plan participants focused on risk-managed equity exposure across the United States, with no international geographic operations beyond U.S. listing and distribution. Recent developments include the successful November 2024 outcome period reset, where PMNV achieved its full 100% buffer objective amid S&P 500 gains of approximately 28%, delivering positive returns within the cap; PGIM expanded its buffer ETF suite in 2024-2025 with additional series launches, such as extended buffer variants, and announced strategic enhancements to FLEX Option structures for improved cap potential in response to evolving market volatility. No major acquisitions, funding rounds, or name changes occurred in the past 1-2 years, though PGIM deepened partnerships with option counterparties and distribution platforms to enhance accessibility for RIAs and wirehouses. These initiatives reflect PGIM's ongoing commitment to innovation in structured outcome products within the $10+ billion defined-outcome ETF market.