Data as of Nov 4, 2026.
AUGW vs BAUG: Cap, Buffer & Days Left
As of Nov 4, 2026 AUGW can fall 2.7% before its buffer engages and BAUG 2.6%.
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Net assets: $127m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer20 ETF - Aug, and $270m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Aug.
AUGW: reference +2.6% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.
AUGW: reference +2.6% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.BAUG: reference +2.6% since period start, fund +2.4%; buffer 0 to −9; cap +17.8%; Between buffer and cap. Data to Nov 4, 2026.
BAUG: reference +2.6% since period start, fund +2.4%; buffer 0 to −9; cap +17.8%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
AUGW costs 0.05 points a year less; their one-year returns differ by 3.9 points; BAUG is 2.1 times larger.
Points (pts) are percentage points.
| Measure | AUGW | BAUG |
|---|---|---|
| Return | ||
| Total return, 1 year | +9.0% | +12.9% |
| Drawdown | ||
| Index fall to the buffer | 2.6% | 2.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, as of Nov 3, 2026 | $127m | $266m |
| Holdings | ||
| Holdings in common | not published | |
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
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 →
Risk and return
Aug 11, 2023 to Oct 30, 2026 · 168 weekly returns · each against SPYFrom Aug 2023 to Oct 2026, BAUG returned more: +62.0% to +40.5%. AUGW swung less: 6.1% to 9.7%. AUGW fell less at its worst: −7.7% to −12.0%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | AUGW | BAUG | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +40.5% | +62.0% | BAUG | Price change plus distributions, reinvested. | |
| Annualized | +11.1% | +16.1% | BAUG | Total return as a yearly rate. | |
| Price return | +40.5% | +62.0% | BAUG | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 6.1% | 9.7% | AUGW | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 3.9% | 6.2% | AUGW | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −7.7% | −12.0% | AUGW | Deepest fall from a high to the low after it. | |
| Upside capture | 33.4% | 60.7% | 100.0% | BAUG | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 41.6% | 69.1% | 100.0% | AUGW | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.41 | 0.67 | 1.00 | AUGW lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.91 | 0.97 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.01 | 1.13 | BAUG | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.58 | 1.77 | BAUG | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.150 | 0.162 | 0.141 | BAUG (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 1.44 | 1.34 | AUGW (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | +0.4% a year | +1.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.38 | 1.56 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.6% to +2.4% | −0.4% to +3.2% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.93 | −0.65 | BAUG | Return against its benchmark per unit of tracking error. | |
| Tracking error | 8.5% | 4.9% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 168 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | AUGW | BAUG | AUGW | BAUG |
| 3 months | +0.8% | +0.5% | +1.2 pts | +0.9 pts |
| 6 months | +4.1% | +5.7% | −0.4 pts | +1.2 pts |
| 1 year | +9.0% | +12.9% | −4.5 pts | −0.7 pts |
| 3 years | +42.3% | +66.1% | −34.1 pts | −10.4 pts |
| Since launchNot the same days: AUGW Aug 2023 · BAUG Aug 2019 | +39.7% | +122.4% | −28.3 pts | −37.7 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
As of Nov 4, 2026. Source: ETFIQ.
Where each one stands today
AUGW resets first, on Jul 31, 2027, 269 days from now; BAUG runs to Jul 31, 2027, 269 days. AUGW can still gain 9.1% before its cap, BAUG 14.8%. A fall from here reaches AUGW’s buffer after 2.7% and BAUG’s after 2.6%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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AUGW
From its price on Nov 4, 2026, the fund can gain about 9.1% more before it reaches its cap. The fund's price can fall 2.7% 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: 20.0% of the 20.0% 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.
BAUG
From its price on Nov 4, 2026, the fund can gain about 14.8% more before it reaches its cap. The fund's price can fall 2.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.5% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level.
Questions people ask
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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, AUGW against BAUG, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/augw-vs-baug
ETFIQ. (Nov 4, 2026). AUGW against BAUG. Retrieved from https://etfiq.com/compare/buffer/augw-vs-baug
[AUGW against BAUG (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/augw-vs-baug)
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