Which has more room to gain, AUGP or PBAU?

From their prices on Oct 9, 2026, AUGP can gain about 11.8% before its cap and PBAU about 9.1%, so AUGP has more room left this period.

Which resets first, AUGP or PBAU?

AUGP ends its outcome period on Jul 31, 2027 and PBAU on Jul 31, 2027. A new cap is set the day after each.

Which is cheaper, AUGP or PBAU?

AUGP and PBAU both charge 0.50% a year, so neither is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live Compare their flows Ask IQ about these two funds

AUGP vs PBAU: Cap, Buffer & Days Left

As of Oct 9, 2026 AUGP can fall 3.4% before its buffer engages and PBAU 2.8%. Net assets on Oct 9, 2026: $32m for PGIM S&P 500 Buffer 12 ETF - August and $40m for PGIM S&P 500 Buffer 20 ETF - August .

Both cost 0.50% a year; their one-year returns differ by 2.9 points; PBAU is 1.2 times larger.

	AUGP	PBAU
Expense ratio	0.50%	0.50%
Net assets	$32m	$40m
Total return, 1 year	+12.8%	+9.9%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	4.0%

3.4%

AUGP can fall this far before its buffer

2.8%

PBAU can fall this far before its buffer

11.8%

AUGP can still gain

9.1%

PBAU can still gain

AUGPBetween buffer and cap

AUGP: reference +4.2% since period start, fund +3.0%; buffer 0 to −12; cap +15.7%; Between buffer and cap. Figures to Oct 9, 2026.

PBAUBetween buffer and cap

PBAU: reference +4.2% since period start, fund +2.4%; buffer 0 to −20; cap +12.2%; Between buffer and cap. Figures to Oct 9, 2026.

ETFIQ Downside Cover Score · PBAU scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

AUGP 57.9

PBAU 97.1

0.2, the lowest in this set99.8, the highest

A percentile among the 292 buffer ETFs on stocks with a live outcome period. Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it → How it is computed →

Both are PGIM funds, so the difference between them is the terms rather than the house.

Where each one stands today

AUGP resets first, on Jul 31, 2027, 295 days from now; PBAU runs to Jul 31, 2027, 295 days. AUGP can still gain 11.8% before its cap, PBAU 9.1%. A fall from here reaches AUGP’s buffer after 3.4% and PBAU’s after 2.8%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

	Total return		Gap to the reference's price return
Window	AUGP	PBAU	AUGP	PBAU
3 months	+3.6%	+2.6%	+0.5 pts	−0.5 pts
6 months	+9.6%	+6.9%	−5.0 pts	−7.7 pts
1 year	+12.8%	+9.9%	−3.2 pts	−6.0 pts

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

On the same fields

AUGP

PGIM S&P 500 Buffer 12 ETF - August · Absorbs the first 12% of loss on SPY and caps the gain at 15.7%, over a period ending Jul 31, 2027

PBAU

PGIM S&P 500 Buffer 20 ETF - August · Absorbs the first 20% of loss on SPY and caps the gain at 12.2%, over a period ending Jul 31, 2027

Issuer PGIM PGIM

Reference index SPY SPY

Buffer 12% 20%

Outcome period Aug 1, 2026 to Jul 31, 2027 Aug 1, 2026 to Jul 31, 2027

Days left 295 295

Starting cap +15.7% +12.2%

Can still gain 11.8% 9.1%

Fall before buffer 3.4% 2.8%

Protection left, index points 12.0% of 12.0% 20.0% of 20.0%

Index return this period +4.2% +4.2%

Fund return this period +3.0% +2.4%

State today Open Open

Expense ratio 0.50% 0.50%

Net assets $32m $40m

As of Oct 9, 2026. Source: ETFIQ.

AUGP in plain words

From its price on Oct 9, 2026, the fund can gain about 11.8% more before it reaches its cap. The fund's price can fall 3.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 4.0% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. 295 days remained on Oct 9, 2026. On Jul 31, 2027 the period ends and a new cap is set.

PBAU in plain words

From its price on Oct 9, 2026, the fund can gain about 9.1% more before it reaches its cap. The fund's price can fall 2.8% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, AUGP or PBAU?: From their prices on Oct 9, 2026, AUGP can gain about 11.8% before its cap and PBAU about 9.1%, so AUGP has more room left this period.
Which resets first, AUGP or PBAU?: AUGP ends its outcome period on Jul 31, 2027 and PBAU on Jul 31, 2027. A new cap is set the day after each.
Which is cheaper, AUGP or PBAU?: AUGP and PBAU both charge 0.50% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

AUGP vs JULM AUGP vs CPSJ AUGP vs PMAU AUGP vs HAUG PBAU vs AUGU PBAU vs XJUL PBAU vs CPSA PBAU vs CPSJ

SPDR S&P 500 ETF Trust →AUGP on its own →PBAU on its own →How every figure is computed →Standards and sources →

Where these figures came from

AUGP and PBAU 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

It is a place in a set, not a rating or a recommendation.

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 page

ETFIQ, AUGP against PBAU, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/augp-vs-pbau

Open data

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