Which has more room to gain, AUGM or PBSE?

From their prices on Nov 4, 2026, AUGM can gain about 6.5% before its cap and PBSE about 11.1%, so PBSE has more room left this period.

Which resets first, AUGM or PBSE?

AUGM ends its outcome period on Aug 20, 2027 and PBSE on Aug 31, 2027. A new cap is set the day after each.

Which is cheaper, AUGM or PBSE?

AUGM charges 0.85% a year and PBSE charges 0.50%, so PBSE is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

AUGM vs PBSE: Cap, Buffer & Days Left

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As of Nov 4, 2026 AUGM can fall 1.5% before its buffer engages and PBSE 1.2%, and AUGM resets 11 days sooner.

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Net assets: $66m on Nov 3, 2026 for FT Vest U.S. Equity Max Buffer ETF - August, and $50m on Nov 4, 2026 for PGIM S&P 500 Buffer 20 ETF - September .

AUGM on its own →PBSE on its own →

At a glance

1.5%

AUGM can fall this far before its buffer

1.2%

PBSE can fall this far before its buffer

6.5%

AUGM can still gain

11.1%

PBSE can still gain

AUGM Full floor

AUGM: reference +0.1% since period start, fund +0.7%; buffer Floor; cap +8.0%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

PBSE Buffer working

PBSE: reference 0.0% since period start, fund +0.7%; buffer 0 to −20; cap +12.3%; Buffer working. Data to Nov 4, 2026.

Pair scorecard

PBSE costs 0.35 points a year less; their one-year returns differ by 3.0 points; AUGM is 1.3 times larger.

Points (pts) are percentage points.

AUGM vs PBSE: Cap, Buffer & Days Left
Measure	AUGM	PBSE
Return
Measure	AUGM	PBSE
Total return, 1 year	+5.5%	+8.5%
Drawdown
Measure	AUGM	PBSE
Index fall to the buffer	0.1%	0.0%
Benchmark
Measure	AUGM	PBSE
What it tracks	SPY	SPY
Cost and size
Measure	AUGM	PBSE
Expense ratio	0.85%	0.50%
Net assets, as of Nov 3, 2026	$66m	$50m
Holdings
Measure	AUGM	PBSE
Holdings in common	not published

Method

Window by window

Window by window: AUGM vs PBSE: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AUGM	PBSE	AUGM	PBSE
3 months	+0.8%	+1.0%	+1.2 pts	+1.4 pts
6 months	+2.4%	+3.5%	−2.1 pts	−1.0 pts
1 year	+5.5%	+8.5%	−8.1 pts	−5.0 pts
Since launchNot the same days: AUGM Aug 2024 · PBSE May 2024	+14.1%	+25.5%	−23.0 pts	−19.2 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

AUGM FT Vest U.S. Equity Max Buffer ETF - August · Absorbs the whole loss on SPY and caps the gain at 8.0%, over a period ending Aug 20, 2027 PBSE PGIM S&P 500 Buffer 20 ETF - September · Absorbs the first 20% of loss on SPY and caps the gain at 12.3%, over a period ending Aug 31, 2027

Issuer First Trust PGIM

Reference index SPY SPY

Buffer 100% 20%

Outcome period Aug 24, 2026 to Aug 20, 2027 Sep 1, 2026 to Aug 31, 2027

Days left 289 300

Starting cap +8.0% +12.3%

Can still gain 6.5% 11.1%

Fall before buffer 1.5% 1.2%

Protection left, index points 100.0% of 100.0% 20.0% of 20.0%

Index return this period +0.1% 0.0%

Fund return this period +0.7% +0.7%

State today Open Buffer working

Expense ratio 0.85% 0.50%

Net assets, AUGM as of Nov 3, 2026 and PBSE as of Nov 4, 2026 $66m $50m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. AUGM is a floor fund, which caps how far a holder can fall. PBSE is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Where each one stands today

AUGM resets first, on Aug 20, 2027, 289 days from now; PBSE runs to Aug 31, 2027, 300 days. AUGM can still gain 6.5% before its cap, PBSE 11.1%. A fall from here reaches AUGM’s buffer after 1.5% and PBSE’s after 1.2%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

AUGM

From its price on Nov 4, 2026, the fund can gain about 6.5% more before it reaches its cap. The fund's price can fall 1.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.1% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 289 days remained on Nov 4, 2026. On Aug 20, 2027 the period ends and a new cap is set.

PBSE

From its price on Nov 4, 2026, the fund can gain about 11.1% more before it reaches its cap. The fund's price can fall 1.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 300 days remained on Nov 4, 2026. On Aug 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, AUGM or PBSE?: From their prices on Nov 4, 2026, AUGM can gain about 6.5% before its cap and PBSE about 11.1%, so PBSE has more room left this period.
Which resets first, AUGM or PBSE?: AUGM ends its outcome period on Aug 20, 2027 and PBSE on Aug 31, 2027. A new cap is set the day after each.
Which is cheaper, AUGM or PBSE?: AUGM charges 0.85% a year and PBSE charges 0.50%, so PBSE is cheaper. Fees come from each fund's prospectus.

Other comparisons

AUGM vs CPSA AUGM vs CPST AUGM vs SEPT AUGM vs DDTS PBSE vs CPSA PBSE vs SEPP PBSE vs SEPT PBSE vs SEPU

Where to next

State Street® SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →AUGM on its own →PBSE on its own →Method →Standards and sources →

Sources and dates

AUGM filings on SEC EDGAR ↗

First Trust page for AUGM ↗

PBSE filings on SEC EDGAR ↗

PGIM website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AUGM against PBSE, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/augm-vs-pbse

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.