Data as of .
AUGW vs PAUG: which one stands where?
As of Sep 21, 2026 AUGW can fall 2.4% before its buffer engages and PAUG 2.1%.
ETFIQ Downside Cover Score: AUGW scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it · How it is computed
Where each one stands today
AUGW resets first, on Jul 31, 2027, 313 days from now; PAUG runs to Jul 31, 2027, 313 days. AUGW can still gain 9.5% before its cap, PAUG 11.4%. A fall from here reaches AUGW’s buffer after 2.4% and PAUG’s after 2.1%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| AUGW | PAUG | AUGW | PAUG | |
| 3 months | +2.1% | +2.5% | −0.1 pts | +0.2 pts |
| 6 months | +8.1% | +9.5% | −9.9 pts | −8.5 pts |
| 1 year | +8.8% | +10.0% | −7.8 pts | −6.5 pts |
| 3 years | +40.3% | +47.0% | −38.1 pts | −31.4 pts |
| 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 | 313 | 313 |
| Starting cap | +12.1% | +13.8% |
| Can still gain | 9.5% | 11.4% |
| Fall before buffer | 2.4% | 2.1% |
| Protection left, index points | 20.0% of 20.0% | 15.0% of 15.0% |
| Index return this period | +3.6% | +3.6% |
| Fund return this period | +1.7% | +2.1% |
| State today | Open | Open |
| Expense ratio | 0.74% | 0.79% |
| Net assets | $127m | $1.0bn |
AUGW in plain words
From its price on Sep 21, 2026, the fund can gain about 9.5% more before it reaches its cap. The fund's price can fall 2.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.5% 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. 313 days remained on Sep 21, 2026. On Jul 31, 2027 the period ends and a new cap is set.
PAUG in plain words
From its price on Sep 21, 2026, the fund can gain about 11.4% more before it reaches its cap. The fund's price can fall 2.1% 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 Sep 21, 2026, AUGW can gain about 9.5% before its cap and PAUG about 11.4%, 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
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AUGW against PAUG, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/augw-vs-paug Free to use with attribution; the underlying files are at Open data.