Which has more room to gain, AUGW or PAUG?

From their prices on Oct 9, 2026, AUGW can gain about 8.8% before its cap and PAUG about 10.7%, so PAUG has more room left this period.

Which resets first, AUGW or PAUG?

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

Which is cheaper, AUGW or PAUG?

AUGW charges 0.74% a year and PAUG charges 0.79%, so AUGW is cheaper. Fees come from each fund's prospectus.

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AUGW vs PAUG: Cap, Buffer & Days Left

As of Oct 9, 2026 AUGW can fall 3.0% before its buffer engages and PAUG 2.8%. Net assets: $128m on Oct 8, 2026 for AllianzIM U.S. Equity Buffer20 ETF - Aug, and $1.1bn on Oct 9, 2026 for Innovator U.S. Equity Power Buffer ETF - Aug.

AUGW costs 0.05 points a year less; their one-year returns differ by 1.2 points; PAUG is 8.2 times larger.

	AUGW	PAUG
Expense ratio	0.74%	0.79%
Net assets, as of Oct 8, 2026	$128m	$1.1bn
Total return, 1 year	+9.7%	+10.9%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	4.0%

3.0%

AUGW can fall this far before its buffer

2.8%

PAUG can fall this far before its buffer

8.8%

AUGW can still gain

10.7%

PAUG can still gain

AUGWBetween buffer and cap

AUGW: reference +4.2% since period start, fund +2.3%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Figures to Oct 9, 2026.

PAUGBetween buffer and cap

PAUG: reference +4.2% since period start, fund +2.7%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Figures to Oct 9, 2026.

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

AUGW 96.7

PAUG 85.8

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 →

Where each one stands today

AUGW resets first, on Jul 31, 2027, 295 days from now; PAUG runs to Jul 31, 2027, 295 days. AUGW can still gain 8.8% before its cap, PAUG 10.7%. A fall from here reaches AUGW’s buffer after 3.0% and PAUG’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	AUGW	PAUG	AUGW	PAUG
3 months	+2.7%	+3.0%	−0.4 pts	−0.1 pts
6 months	+6.8%	+7.9%	−7.8 pts	−6.7 pts
1 year	+9.7%	+10.9%	−6.3 pts	−5.1 pts
3 years	+43.4%	+50.7%	−35.8 pts	−28.5 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

AUGW

AllianzIM U.S. Equity Buffer20 ETF - Aug · Absorbs the first 20% of loss on SPY and caps the gain at 12.1%, over a period ending Jul 31, 2027

PAUG

Innovator U.S. Equity Power Buffer ETF - Aug · Absorbs the first 15% of loss on SPY and caps the gain at 13.8%, over a period ending Jul 31, 2027

Issuer AllianzIM Innovator

Reference index SPY SPY

Buffer 20% 15%

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

Days left 295 295

Starting cap +12.1% +13.8%

Can still gain 8.8% 10.7%

Fall before buffer 3.0% 2.8%

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

Index return this period +4.2% +4.2%

Fund return this period +2.3% +2.7%

State today Open Open

Expense ratio 0.74% 0.79%

Net assets, AUGW as of Oct 8, 2026 and PAUG as of Oct 9, 2026 $128m $1.1bn

As of Oct 9, 2026. Source: ETFIQ.

AUGW in plain words

From its price on Oct 9, 2026, the fund can gain about 8.8% more before it reaches its cap. The fund's price can fall 3.0% 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: 20.0% of the 20.0% 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.

PAUG in plain words

From its price on Oct 9, 2026, the fund can gain about 10.7% 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: 15.0% of the 15.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, AUGW or PAUG?: From their prices on Oct 9, 2026, AUGW can gain about 8.8% before its cap and PAUG about 10.7%, so PAUG has more room left this period.
Which resets first, AUGW or PAUG?: AUGW ends its outcome period on Jul 31, 2027 and PAUG on Jul 31, 2027. A new cap is set the day after each.
Which is cheaper, AUGW or PAUG?: AUGW charges 0.74% a year and PAUG charges 0.79%, so AUGW is cheaper. Fees come from each fund's prospectus.

Other comparisons

AUGW vs FJUL AUGW vs DJUL AUGW vs GJUL AUGW vs BAUG PAUG vs PSEP PAUG vs PJUL PAUG vs FAPR PAUG vs PJAN

SPDR® S&P 500® ETF Trust →AUGW on its own →PAUG on its own →How every figure is computed →Standards and sources →

Where these figures came from

AUGW filings on SEC EDGAR ↗AllianzIM page for AUGW ↗PAUG filings on SEC EDGAR ↗Innovator page for PAUG ↗

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, AUGW against PAUG, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/augw-vs-paug

Open data

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