Which has more room to gain, AUGP or PBAU?

From their prices on Nov 4, 2026, AUGP can gain about 12.5% before its cap and PBAU about 9.4%, 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.

Data as of Nov 4, 2026.

Buffer ETFs

AUGP vs PBAU: Cap, Buffer & Days Left

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As of Nov 4, 2026 AUGP can fall 2.8% before its buffer engages and PBAU 2.5%.

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Net assets on Nov 4, 2026: $38m for PGIM S&P 500 Buffer 12 ETF - August and $40m for PGIM S&P 500 Buffer 20 ETF - August .

AUGP on its own →PBAU on its own →

At a glance

2.8%

AUGP can fall this far before its buffer

2.5%

PBAU can fall this far before its buffer

12.5%

AUGP can still gain

9.4%

PBAU can still gain

AUGP Between buffer and cap

AUGP: reference +2.6% since period start, fund +2.4%; buffer 0 to −12; cap +15.7%; Between buffer and cap. Data to Nov 4, 2026.

PBAU Between buffer and cap

PBAU: reference +2.6% since period start, fund +2.1%; buffer 0 to −20; cap +12.2%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.50% a year; their one-year returns differ by 2.4 points; PBAU is 1.1 times larger.

Points (pts) are percentage points.

AUGP vs PBAU: Cap, Buffer & Days Left
Measure	AUGP	PBAU
Return
Measure	AUGP	PBAU
Total return, 1 year	+11.8%	+9.4%
Drawdown
Measure	AUGP	PBAU
Index fall to the buffer	2.6%
Benchmark
Measure	AUGP	PBAU
What it tracks	SPY	SPY
Cost and size
Measure	AUGP	PBAU
Expense ratio	0.50%	0.50%
Net assets	$38m	$40m
Holdings
Measure	AUGP	PBAU
Holdings in common	not published

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

IQ Buffer Score57.5AUGP95PBAU

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

AUGP 57.5

PBAU 95

0.3, the lowest in this set 99.7, the highest

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 →

Method

Window by window

Window by window: AUGP vs PBAU: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AUGP	PBAU	AUGP	PBAU
3 months	+0.7%	+0.9%	+1.1 pts	+1.3 pts
6 months	+5.2%	+4.3%	+0.8 pts	−0.2 pts
1 year	+11.8%	+9.4%	−1.7 pts	−4.1 pts
Since launchAUGP May 2024 · PBAU May 2024	+36.4%	+28.9%	−10.8 pts	−18.3 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

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 269 269

Starting cap +15.7% +12.2%

Can still gain 12.5% 9.4%

Fall before buffer 2.8% 2.5%

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

Index return this period +2.6% +2.6%

Fund return this period +2.4% +2.1%

State today Open Open

Expense ratio 0.50% 0.50%

Net assets $38m $40m

As of Nov 4, 2026. Source: ETFIQ.

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, 269 days from now; PBAU runs to Jul 31, 2027, 269 days. AUGP can still gain 12.5% before its cap, PBAU 9.4%. A fall from here reaches AUGP’s buffer after 2.8% and PBAU’s after 2.5%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

AUGP

From its price on Nov 4, 2026, the fund can gain about 12.5% 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 number. In index terms, SPY can fall 2.6% 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. 269 days remained on Nov 4, 2026. On Jul 31, 2027 the period ends and a new cap is set.

PBAU

From its price on Nov 4, 2026, the fund can gain about 9.4% more before it reaches its cap. The fund's price can fall 2.5% from here before the buffer starts absorbing losses, by the issuer's number. 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 Nov 4, 2026, AUGP can gain about 12.5% before its cap and PBAU about 9.4%, 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 XJUL AUGP vs JULM AUGP vs AUGU AUGP vs AUGT PBAU vs XJUL PBAU vs CPSJ PBAU vs AUGW PBAU vs ZAUG

Where to next

SPDR S&P 500 ETF Trust →AUGP on its own →PBAU on its own →Method →Standards and sources →

Sources and dates

AUGP and PBAU filings on SEC EDGAR ↗

PGIM website ↗

Links are sources, not endorsements. 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 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.

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ETFIQ, AUGP against PBAU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/augp-vs-pbau

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