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AUGU vs XJUL: Cap, Buffer & Days Left

As of Oct 9, 2026 XJUL can fall 3.8% before its buffer engages and AUGU 3.6%, and XJUL resets 15 days sooner. Net assets: $41m on Oct 8, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Aug, and $42m on Oct 9, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - July.

AUGU costs 0.11 points a year less; their one-year returns differ by 2.3 points.

AUGUXJUL
Expense ratio0.74%0.85%
Net assets, as of Oct 8, 2026$41m$42m
Total return, 1 year+11.6%+9.3%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer4.0%4.5%
3.6%
AUGU can fall this far before its buffer
3.8%
XJUL can fall this far before its buffer
uncapped
AUGU can still gain
7.3%
XJUL can still gain
AUGUNo cap
No capAUGU: reference +4.2% since period start, fund +2.9%; buffer 0 to −15; no cap; No cap. Figures to Oct 9, 2026.15 pts of buffer−15.0% floor0% period startno cap+4.2% gained, no capTODAY · SPY +4.2%No capAUGU: reference +4.2% since period start, fund +2.9%; buffer 0 to −15; no cap; No cap. Figures to Oct 9, 2026.15 pts−15.0% floor0% startno cap+4.2% gained, no capTODAY · SPY +4.2%

AUGU: reference +4.2% since period start, fund +2.9%; buffer 0 to −15; no cap; No cap. Figures to Oct 9, 2026.

AUGU: reference +4.2% since period start, fund +2.9%; buffer 0 to −15; no cap; No cap. Figures to Oct 9, 2026.

XJULBetween buffer and cap
Between buffer and capXJUL: reference +4.8% since period start, fund +3.0%; buffer 0 to −15; cap +11.4%; Between buffer and cap. Figures to Oct 9, 2026.15 pts of buffer+4.8% gained+6.7% to cap−15.0% floor0% period start+11.4% capTODAY · SPY +4.8%Between buffer and capXJUL: reference +4.8% since period start, fund +3.0%; buffer 0 to −15; cap +11.4%; Between buffer and cap. Figures to Oct 9, 2026.15 pts−15.0% floor0% start+11.4% cap+4.8% gain captured+6.7% more to the capTODAY · SPY +4.8%

XJUL: reference +4.8% since period start, fund +3.0%; buffer 0 to −15; cap +11.4%; Between buffer and cap. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

These are two different products. XJUL is a floor fund, which caps how far a holder can fall. AUGU 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

XJUL resets first, on Jul 16, 2027, 280 days from now; AUGU runs to Jul 31, 2027, 295 days. A fall from here reaches AUGU’s buffer after 3.6% and XJUL’s after 3.8%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Total returnGap to the reference's price return
WindowAUGUXJULAUGUXJUL
3 months+1.7%+3.1%−1.4 pts−0.1 pts
6 months+11.5%+6.0%−3.1 pts−8.6 pts
1 year+11.6%+9.3%−4.4 pts−6.7 pts
3 yearsnot published+38.0%not published−41.2 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

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
XJUL
FT Vest U.S. Equity Enhance & Moderate Buffer ETF - July · Absorbs the first 15% of loss on SPY and caps the gain at 11.4%, over a period ending Jul 16, 2027
Issuer AllianzIM First Trust
Reference index SPY SPY
Buffer 15% 15%
Outcome period Aug 1, 2026 to Jul 31, 2027 Jul 20, 2026 to Jul 16, 2027
Days left 295 280
Starting cap uncapped +11.4%
Can still gain uncapped 7.3%
Fall before buffer 3.6% 3.8%
Protection left, index points 15.0% of 15.0% 15.0% of 15.0%
Index return this period +4.2% +4.8%
Fund return this period +2.9% +3.0%
State today Uncapped Open
Expense ratio 0.74% 0.85%
Net assets, AUGU as of Oct 8, 2026 and XJUL as of Oct 9, 2026 $41m $42m

As of Oct 9, 2026. Source: ETFIQ.

AUGU in plain words

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 3.6% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 295 days remained on Oct 9, 2026. On Jul 31, 2027 the period ends and new terms are set.

XJUL in plain words

From its price on Oct 9, 2026, the fund can gain about 7.3% more before it reaches its cap. The fund's price can fall 3.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 4.5% from today's level to the point where the buffer begins. 280 days remained on Oct 9, 2026. On Jul 16, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, AUGU or XJUL?
AUGU ends its outcome period on Jul 31, 2027 and XJUL on Jul 16, 2027. New terms are set the day after each.
Which is cheaper, AUGU or XJUL?
AUGU charges 0.74% a year and XJUL charges 0.85%, so AUGU is cheaper. Fees come from each fund's prospectus.
Other comparisons
AUGU vs UAUGAUGU vs PBAUAUGU vs JULMAUGU vs CPSAXJUL vs DJULXJUL vs PAUGXJUL vs FJULXJUL vs CPSA
SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →AUGU on its own →XJUL on its own →How every figure is computed →Standards and sources →
Where these figures came from
AUGU filings on SEC EDGAR ↗AllianzIM page for AUGU ↗XJUL filings on SEC EDGAR ↗First Trust page for XJUL ↗

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 page

ETFIQ, AUGU against XJUL, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/augu-vs-xjul

Open data

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