Which resets first, AUGU or PBAU?

AUGU ends its outcome period on Jul 31, 2027 and PBAU on Jul 31, 2027. New terms are set the day after each.

Which is cheaper, AUGU or PBAU?

AUGU charges 0.74% a year and PBAU charges 0.50%, so PBAU is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

AUGU vs PBAU: Cap, Buffer & Days Left

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As of Nov 4, 2026 PBAU can fall 2.5% before its buffer engages and AUGU 2.3%.

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Net assets: $36m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Aug, and $40m on Nov 4, 2026 for PGIM S&P 500 Buffer 20 ETF - August .

AUGU on its own →PBAU on its own →

At a glance

2.3%

AUGU can fall this far before its buffer

2.5%

PBAU can fall this far before its buffer

uncapped

AUGU can still gain

9.4%

PBAU can still gain

AUGU No cap

AUGU: reference +2.6% since period start, fund +1.6%; buffer 0 to −15; no cap; No 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

PBAU costs 0.24 points a year less; their one-year returns differ by 0.2 points; PBAU is 1.1 times larger.

Points (pts) are percentage points.

AUGU vs PBAU: Cap, Buffer & Days Left
Measure	AUGU	PBAU
Return
Measure	AUGU	PBAU
Total return, 1 year	+9.6%	+9.4%
Drawdown
Measure	AUGU	PBAU
Index fall to the buffer	2.6%
Benchmark
Measure	AUGU	PBAU
What it tracks	SPY	SPY
Cost and size
Measure	AUGU	PBAU
Expense ratio	0.74%	0.50%
Net assets, as of Nov 3, 2026	$36m	$40m
Holdings
Measure	AUGU	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 Score83.2AUGU95PBAU

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

AUGU 83.2

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: AUGU vs PBAU: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AUGU	PBAU	AUGU	PBAU
3 months	−0.9%	+0.9%	−0.5 pts	+1.3 pts
6 months	+2.8%	+4.3%	−1.7 pts	−0.2 pts
1 year	+9.6%	+9.4%	−4.0 pts	−4.1 pts
Since launchNot the same days: AUGU Aug 2024 · PBAU May 2024	+29.6%	+28.9%	−11.7 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

AUGU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Aug · Absorbs the first 15% of loss on SPY and does not cap the gain, 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 AllianzIM PGIM

Reference index SPY SPY

Buffer 15% 20%

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

Days left 269 269

Starting cap uncapped +12.2%

Can still gain uncapped 9.4%

Fall before buffer 2.3% 2.5%

Protection left, index points 15.0% of 15.0% 20.0% of 20.0%

Index return this period +2.6% +2.6%

Fund return this period +1.6% +2.1%

State today Uncapped Open

Expense ratio 0.74% 0.50%

Net assets, AUGU as of Nov 3, 2026 and PBAU as of Nov 4, 2026 $36m $40m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

AUGU resets first, on Jul 31, 2027, 269 days from now; PBAU runs to Jul 31, 2027, 269 days. A fall from here reaches AUGU’s buffer after 2.3% 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

AUGU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 2.3% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 269 days remained on Nov 4, 2026. On Jul 31, 2027 the period ends and new terms are 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. On Jul 31, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, AUGU or PBAU?: AUGU ends its outcome period on Jul 31, 2027 and PBAU on Jul 31, 2027. New terms are set the day after each.
Which is cheaper, AUGU or PBAU?: AUGU charges 0.74% a year and PBAU charges 0.50%, so PBAU is cheaper. Fees come from each fund's prospectus.

Other comparisons

AUGU vs PAUG AUGU vs XJUL AUGU vs AUGP AUGU vs JULM PBAU vs DJUL PBAU vs PAUG PBAU vs FJUL PBAU vs XJUL

Where to next

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

Sources and dates

AUGU filings on SEC EDGAR ↗

AllianzIM page for AUGU ↗

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.

Cite this pageCitation, APA and Markdown

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

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