Which has more room to gain, AUGM or PMSE?

From their prices on Oct 13, 2026, AUGM can gain about 6.4% before its cap and PMSE about 7.1%, so PMSE has more room left this period.

Which resets first, AUGM or PMSE?

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

Which is cheaper, AUGM or PMSE?

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

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AUGM vs PMSE: Cap, Buffer & Days Left

As of Oct 13, 2026 AUGM can fall 1.6% before its buffer engages and PMSE 1.1%, and AUGM resets 11 days sooner. Net assets: $66m on Oct 12, 2026 for FT Vest U.S. Equity Max Buffer ETF - August, and $7m on Oct 13, 2026 for PGIM S&P 500 Max Buffer ETF - September.

PMSE costs 0.35 points a year less; their one-year returns differ by 0.2 points; AUGM is 8.8 times larger.

Points (pts) are percentage points.

AUGM vs PMSE: Cap, Buffer & Days Left
	AUGM	PMSE
Expense ratio	0.85%	0.50%
Net assets, as of Oct 12, 2026	$66m	$7m
Total return, 1 year	+6.1%	+6.3%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	1.5%	1.3%

1.6%

AUGM can fall this far before its buffer

1.1%

PMSE can fall this far before its buffer

6.4%

AUGM can still gain

7.1%

PMSE can still gain

AUGMFull floor

AUGM: reference +1.5% since period start, fund +0.7%; buffer Floor; cap +8.0%; Full floor. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

PMSEFull floor

PMSE: reference +1.3% since period start, fund +0.6%; buffer Floor; cap +8.3%; Full floor. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

Where each one stands today

AUGM resets first, on Aug 20, 2027, 311 days from now; PMSE runs to Aug 31, 2027, 322 days. AUGM can still gain 6.4% before its cap, PMSE 7.1%. A fall from here reaches AUGM’s buffer after 1.6% and PMSE’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: AUGM vs PMSE: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AUGM	PMSE	AUGM	PMSE
3 months	+1.3%	+1.4%	−2.6 pts	−2.5 pts
6 months	+3.6%	+3.7%	−9.8 pts	−9.7 pts
1 year	+6.1%	+6.3%	−13.1 pts	−12.8 pts
Since launch Not the same days: AUGM Aug 2024 · PMSE Sep 2025	+14.2%	+7.1%	−24.9 pts	−14.4 pts

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

On the same fields

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

PMSE

PGIM S&P 500 Max Buffer ETF - September · Absorbs the whole loss on SPY and caps the gain at 8.3%, over a period ending Aug 31, 2027

Issuer First Trust PGIM

Reference index SPY SPY

Buffer 100% 100%

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

Days left 311 322

Starting cap +8.0% +8.3%

Can still gain 6.4% 7.1%

Fall before buffer 1.6% 1.1%

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

Index return this period +1.5% +1.3%

Fund return this period +0.7% +0.6%

State today Open Open

Expense ratio 0.85% 0.50%

Net assets, AUGM as of Oct 12, 2026 and PMSE as of Oct 13, 2026 $66m $7m

As of Oct 13, 2026. Source: ETFIQ.

About AUGM

From its price on Oct 13, 2026, the fund can gain about 6.4% more before it reaches its cap. The fund's price can fall 1.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 1.5% 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. 311 days remained on Oct 13, 2026. On Aug 20, 2027 the period ends and a new cap is set.

About PMSE

From its price on Oct 13, 2026, the fund can gain about 7.1% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 1.3% from today's level to the point where the buffer begins. 322 days remained on Oct 13, 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 PMSE?: From their prices on Oct 13, 2026, AUGM can gain about 6.4% before its cap and PMSE about 7.1%, so PMSE has more room left this period.
Which resets first, AUGM or PMSE?: AUGM ends its outcome period on Aug 20, 2027 and PMSE on Aug 31, 2027. A new cap is set the day after each.
Which is cheaper, AUGM or PMSE?: AUGM charges 0.85% a year and PMSE charges 0.50%, so PMSE is cheaper. Fees come from each fund's prospectus.

Other comparisons

AUGM vs PBSE AUGM vs GAUG AUGM vs FAUG AUGM vs DLAG PMSE vs PBSE PMSE vs CPST PMSE vs SEPT PMSE vs DDFS

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 →PMSE on its own →How every figure is computed →Standards and sources →

Where these figures came from

AUGM filings on SEC EDGAR ↗First Trust page for AUGM ↗PMSE filings on SEC EDGAR ↗PGIM website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every figure 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 figure is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AUGM against PMSE, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/augm-vs-pmse

Open data

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