PGIM S&P 500 Buffer 12 ETF - September (SEPP) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with SEPP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SEPP
SEPP charges 0.50% annually. There are 5 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | SEPP vs JULB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | SEPP vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | SEPP vs APRB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | SEPP vs OCTB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | SEPP vs FBUF |
Best Risk-Adjusted Alternatives to SEPP
SEPP has a PortfoliosLab risk / return rank of 81. There are 159 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | SEPP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.50M | Apr 2025 | SEPP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | SEPP vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | SEPP vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 131.30M | Mar 2021 | SEPP vs XBAP |
Top Performing SEPP Alternatives (YTD)
SEPP is at 6.94% YTD. There are 96 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | SEPP vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 14.25% | — | Jan 2025 | SEPP vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.49% | 214.71M | Mar 2020 | SEPP vs KAPR | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.19% | 2.84M | Jun 2025 | SEPP vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - March | 12.40% | — | Feb 2025 | SEPP vs KMAR |
Lowest Volatility Alternatives to SEPP
SEPP has 7.70% 1-year volatility. There are 213 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.15%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.15% | — | Mar 2025 | SEPP vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.26% | — | Apr 2025 | SEPP vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.33% | — | Apr 2025 | SEPP vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.36% | 19.50M | Apr 2025 | SEPP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | SEPP vs MMAX |
Lowest Drawdown Alternatives to SEPP
SEPP has a 1-year max drawdown of -4.74%. There are 156 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | SEPP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.50M | Apr 2025 | SEPP vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | SEPP vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | SEPP vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.50M | May 2024 | SEPP vs CPSM |
Other ETFs from PGIM
The 10 most viewed PGIM ETFs shown here include PAAA, PULS, PFRL and span 10 categories. AUM among these funds goes as high as $18B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PGIM AAA CLO ETF | CLO | 99 | 2.63% | 10.62B | Jul 2023 | SEPP vs PAAA | |
| PGIM Ultra Short Bond ETF | Ultrashort Bond | 99 | 2.24% | 17.64B | Apr 2018 | SEPP vs PULS | |
| PGIM Floating Rate Income ETF | Bank Loan | 93 | 2.81% | 121.61M | May 2022 | SEPP vs PFRL | |
| PGIM Short Duration Multi-Sector Bond ETF | Multisector Bonds | 91 | 1.42% | — | Jul 2023 | SEPP vs PSDM | |
| PGIM Laddered S&P 500 Buffer 12 ETF | Defined Outcome, S&P 500 | 87 | 6.96% | 215.63M | Jun 2024 | SEPP vs BUFP | |
| PGIM Laddered S&P 500 Buffer 20 ETF | Defined Outcome, S&P 500 | 92 | 5.24% | 196.55M | Jun 2024 | SEPP vs PBFR | |
| PGIM Ultra Short Municipal Bond ETF | Municipal Bonds | 93 | 1.58% | 104.55M | Jun 2024 | SEPP vs PUSH | |
| PGIM Short Duration High Yield ETF | High Yield Bonds | 84 | 2.63% | 169.22M | Dec 2023 | SEPP vs PSH | |
| PGIM Total Return Bond ETF | Intermediate Core-Plus Bond | 34 | -0.04% | 1.09B | Dec 2021 | SEPP vs PTRB | |
| PGIM Jennison Focused Growth ETF | Large Cap Growth Equities | 21 | 3.76% | 139.33M | Dec 2022 | SEPP vs PJFG |
Often Compared With SEPP
Investors most often compare SEPP with PMAU, DMAX, EAPR. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare SEPP with Any Fund or Stock
Compare SEPP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SEPP with funds that move differently
PGIM S&P 500 Buffer 12 ETF - September alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SEPP.
Explore SEPP Diversifiers