PGIM US Large-Cap Buffer 12 ETF - September (SEPP) Performance
SEPP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.2% since Dec 31, 2025
- 1 year
- +10.1% total return
- Since first price
- +31.8% since 2024
SEPP trailing returns vs SPY, QQQ, AGG
| Period | SEPP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.4% | −0.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.8% | +1.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.1% | +5.1% | +7.8% | +8.4% | −1.5% |
| YTD | +8.2% | +8.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +10.1% | +10.1% | +14.4% | +15.9% | −1.1% |
| Since inceptionMay 15, 2024 | +31.8% | +31.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SEPP vs SPY
From May 15, 2024: SEPP grew to $13,184, SPY to $14,769.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SEPP returns by calendar year
1 of 1 full years positive. Best 2025 (+14.1%), worst 2025 (+14.1%). 2026 is year to date.
SEPP annual returns table
| Year | SEPP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.2% | −4.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +14.1% | −11.8% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SEPP largest drawdowns
Now 1.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −11.8% | Apr 8, 2025 | Jun 10, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SEPP risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +12.6% |
| Volatility (annualized) | 6.4% |
| Sharpe ratio | 1.26 |
| Sortino ratio | 2.47 |
| Best month | +5.8% |
| Worst month | −3.2% |
| Best 12 months | +21.0% |
| Worst 12 months | +8.4% |
| Positive months | 75% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SEPP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 18 | +8.4% | +13.0% | +21.0% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
SEPP performance overview
PGIM US Large-Cap Buffer 12 ETF - September (SEPP) returned +10.1% over the past year, with distributions reinvested. Since its first recorded price on May 15, 2024 it has returned +31.8%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −11.8%, from Feb 19, 2025 to Apr 8, 2025, and it took 2 months to get back to the old high. Volatility has been 6.4% a year.
Related: SEPP chart. See the SEPP overview for the latest quote and fund facts.
SEPP performance FAQ
What is the SEPP return over the past year?
SEPP returned +10.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.1%.
How much would $10,000 invested in SEPP be worth?
$10,000 invested in SEPP at its first recorded close on May 15, 2024 would be worth about $13,184 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of SEPP?
The largest peak-to-trough decline was −11.8% between February 19, 2025 and April 8, 2025. It recovered to the old high on June 10, 2025, 2 months after the bottom.
How volatile is SEPP?
Over the past history SEPP had an annualized volatility of 6.4% and a Sharpe ratio of 1.26 (excess return over 1–3 month T-bills per unit of risk).