Which has more room to gain, BAUG or PBAU?

From their prices on Oct 9, 2026, BAUG can gain about 13.9% before its cap and PBAU about 9.1%, so BAUG has more room left this period.

Which resets first, BAUG or PBAU?

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

Which is cheaper, BAUG or PBAU?

BAUG charges 0.79% a year and PBAU charges 0.50%, so PBAU is cheaper. Fees come from each fund's prospectus.

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BAUG vs PBAU: Cap, Buffer & Days Left

As of Oct 9, 2026 BAUG can fall 3.3% before its buffer engages and PBAU 2.8%. Net assets on Oct 9, 2026: $275m for Innovator U.S. Equity Buffer ETF - Aug and $40m for PGIM S&P 500 Buffer 20 ETF - August .

PBAU costs 0.29 points a year less; their one-year returns differ by 4.1 points; BAUG is 6.9 times larger.

	BAUG	PBAU
Expense ratio	0.79%	0.50%
Net assets	$275m	$40m
Total return, 1 year	+14.0%	+9.9%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	4.0%

3.3%

BAUG can fall this far before its buffer

2.8%

PBAU can fall this far before its buffer

13.9%

BAUG can still gain

9.1%

PBAU can still gain

BAUGBetween buffer and cap

BAUG: reference +4.2% since period start, fund +3.3%; buffer 0 to −9; cap +17.8%; Between buffer and cap. Figures to Oct 9, 2026.

PBAUBetween buffer and cap

PBAU: reference +4.2% since period start, fund +2.4%; buffer 0 to −20; cap +12.2%; Between buffer and cap. Figures to Oct 9, 2026.

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

BAUG 19.2

PBAU 97.1

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

BAUG resets first, on Jul 31, 2027, 295 days from now; PBAU runs to Jul 31, 2027, 295 days. BAUG can still gain 13.9% before its cap, PBAU 9.1%. A fall from here reaches BAUG’s buffer after 3.3% and PBAU’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	BAUG	PBAU	BAUG	PBAU
3 months	+3.8%	+2.6%	+0.6 pts	−0.5 pts
6 months	+11.0%	+6.9%	−3.6 pts	−7.7 pts
1 year	+14.0%	+9.9%	−2.0 pts	−6.0 pts
3 years	+67.4%	not published	−11.8 pts	not published

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

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

PBAU

PGIM S&P 500 Buffer 20 ETF - August · Absorbs the first 20% of loss on SPY and caps the gain at 12.2%, over a period ending Jul 31, 2027

Issuer Innovator PGIM

Reference index SPY SPY

Buffer 9% 20%

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

Days left 295 295

Starting cap +17.8% +12.2%

Can still gain 13.9% 9.1%

Fall before buffer 3.3% 2.8%

Protection left, index points 9.0% of 9.0% 20.0% of 20.0%

Index return this period +4.2% +4.2%

Fund return this period +3.3% +2.4%

State today Open Open

Expense ratio 0.79% 0.50%

Net assets $275m $40m

As of Oct 9, 2026. Source: ETFIQ.

BAUG in plain words

From its price on Oct 9, 2026, the fund can gain about 13.9% more before it reaches its cap. The fund's price can fall 3.3% 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: 9.0% of the 9.0% 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.

PBAU in plain words

From its price on Oct 9, 2026, the fund can gain about 9.1% 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: 20.0% of the 20.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BAUG or PBAU?: From their prices on Oct 9, 2026, BAUG can gain about 13.9% before its cap and PBAU about 9.1%, so BAUG has more room left this period.
Which resets first, BAUG or PBAU?: BAUG ends its outcome period on Jul 31, 2027 and PBAU on Jul 31, 2027. A new cap is set the day after each.
Which is cheaper, BAUG or PBAU?: BAUG charges 0.79% a year and PBAU charges 0.50%, so PBAU is cheaper. Fees come from each fund's prospectus.

Other comparisons

BAUG vs PMAU BAUG vs HAUG BAUG vs PAUG BAUG vs AUGC PBAU vs CAUG PBAU vs CTAU PBAU vs UAUG PBAU vs GJUL

SPY →BAUG on its own →PBAU 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 ↗PBAU filings on SEC EDGAR ↗PGIM website ↗

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, BAUG against PBAU, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/baug-vs-pbau

Open data

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