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BAUG vs CAUG: which one stands where?

As of Oct 2, 2026 BAUG can fall 2.5% before its buffer engages and CAUG 1.6%. Innovator U.S. Equity Buffer ETF - Aug and Corgi U.S. Equities 15% Structured Buffer ETF - August Series.

CAUG costs 0.49 points a year less; BAUG is 267.7 times larger.

BAUGCAUG
Expense ratio0.79%0.30%
Net assets$272m$1m
Total return, 1 year+13.2%not published
What it tracksSPYSPY
Holdings in commonnot published
BAUGBetween buffer and cap
Between buffer and capBAUG: reference +3.0% since period start, fund +2.5%; buffer 0 to −9; cap +17.8%; Between buffer and cap.9 pts of buffer+3%+14.8% more to the cap−9.0% floor0% period start+17.8% capTODAY · SPY +3.0%Between buffer and capBAUG: reference +3.0% since period start, fund +2.5%; buffer 0 to −9; cap +17.8%; Between buffer and cap.9 pts+14.8% to cap−9.0% floor0% start+17.8% capTODAY · SPY +3.0%

BAUG: reference +3.0% since period start, fund +2.5%; buffer 0 to −9; cap +17.8%; Between buffer and cap.

CAUGBetween buffer and cap
Between buffer and capCAUG: reference +1.6% since period start, fund +1.7%; buffer 0 to −15; cap +15.0%; Between buffer and cap.15 pts of buffer+13.4% more to the cap−15.0% floor0% period start+15.0% capTODAY · SPY +1.6%Between buffer and capCAUG: reference +1.6% since period start, fund +1.7%; buffer 0 to −15; cap +15.0%; Between buffer and cap.15 pts−15.0% floor0% start+15.0% capTODAY · SPY +1.6%

CAUG: reference +1.6% since period start, fund +1.7%; buffer 0 to −15; cap +15.0%; Between buffer and cap.

ETFIQ Downside Cover Score · CAUG scores higherIf the market falls into a bear market from here, how much does the buffer absorb?
0.2, the lowest in this set99.8, the highest

A percentile among the 294 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

BAUG resets first, on Jul 31, 2027, 302 days from now; CAUG runs to Jul 31, 2027, 302 days. A fall from here reaches BAUG’s buffer after 2.5% and CAUG’s after 1.6%. 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

Total returnGap to the reference
WindowBAUGCAUGBAUGCAUG
3 months+3.6%not published0.0 ptsnot published
6 months+13.0%not published−5.0 ptsnot published
1 year+13.2%not published−3.0 ptsnot published
3 years+70.0%not published−19.3 ptsnot published

BAUG and CAUG over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

BAUG
Innovator U.S. Equity Buffer ETF - Aug · Absorbs the first 9% of loss on SPY and caps the gain at 17.8%, over a period ending Jul 31, 2027
CAUG
Corgi U.S. Equities 15% Structured Buffer ETF - August Series · Absorbs the first 15% of loss on SPY and caps the gain at 15.0%, over a period ending Jul 31, 2027
Issuer Innovator Corgi
Reference index SPY SPY
Buffer 9% 15%
Outcome period Jul 31, 2026 to Jul 31, 2027 Aug 1, 2026 to Jul 31, 2027
Days left 302 302
Starting cap +17.8% +15.0%
Can still gain 14.8% not published
Fall before buffer 2.5% 1.6%
Protection left, index points 9.0% of 9.0% 15.0% of 15.0%
Index return this period +3.0% +1.6%
Fund return this period +2.5% +1.7%
State today Open Open
Expense ratio 0.79% 0.30%
Net assets $272m $1m

BAUG and CAUG on the same fields, as of Oct 2, 2026. Source: ETFIQ.

BAUG in plain words

From its price on Oct 2, 2026, the fund can gain about 14.8% 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 figure. In index terms, SPY can fall 2.9% 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. 302 days remained on Oct 2, 2026. On Jul 31, 2027 the period ends and a new cap is set.

CAUG in plain words

The fund's price can fall 1.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 1.6% 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.

Questions people ask

Which resets first, BAUG or CAUG?
BAUG ends its outcome period on Jul 31, 2027 and CAUG on Jul 31, 2027. A new cap is set the day after each.
Which is cheaper, BAUG or CAUG?
BAUG charges 0.79% a year and CAUG charges 0.30%, so CAUG is cheaper. Fees come from each fund's prospectus.
Other comparisons
BAUG vs FJULBAUG vs HAUGBAUG vs JULMBAUG vs PAUGCAUG vs HAUGCAUG vs JULMCAUG vs PAUGCAUG vs PBAU
SPY →BAUG on its own →CAUG on its own →How every figure is computed →Standards and sources →
Where these figures came from
BAUG filings on SEC EDGAR ↗Innovator page for BAUG ↗CAUG filings on SEC EDGAR ↗Corgi website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, BAUG against CAUG, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/baug-vs-caug

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.