Which has more room to gain, BAUG or UAUG?

From their prices on Oct 9, 2026, BAUG can gain about 13.9% before its cap and UAUG about 11.0%, so BAUG has more room left this period.

Which resets first, BAUG or UAUG?

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

Which is cheaper, BAUG or UAUG?

BAUG and UAUG both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

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BAUG vs UAUG: Cap, Buffer & Days Left

As of Oct 9, 2026 UAUG can fall 7.5% before its buffer engages and BAUG 3.3%. Net assets on Oct 9, 2026: $275m for Innovator U.S. Equity Buffer ETF - Aug and $248m for Innovator U.S. Equity Ultra Buffer ETF - Aug.

Both cost 0.79% a year; their one-year returns differ by 3.6 points; BAUG is 1.1 times larger.

Points (pts) are percentage points.

BAUG vs UAUG: Cap, Buffer & Days Left
	BAUG	UAUG
Expense ratio	0.79%	0.79%
Net assets	$275m	$248m
Total return, 1 year	+14.0%	+10.4%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	4.0%	8.8%

3.3%

BAUG can fall this far before its buffer

7.5%

UAUG can fall this far before its buffer

13.9%

BAUG can still gain

11.0%

UAUG 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.

UAUGBetween buffer and cap

UAUG: reference +4.2% since period start, fund +2.6%; buffer −5 to −35; cap +14.0%; Between buffer and cap. Figures to Oct 9, 2026.

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

BAUG 19.2

UAUG 62.8

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 →

Both are Innovator funds, so the difference between them is the terms rather than the house.

Where each one stands today

BAUG resets first, on Jul 31, 2027, 295 days from now; UAUG runs to Jul 31, 2027, 295 days. BAUG can still gain 13.9% before its cap, UAUG 11.0%. A fall from here reaches BAUG’s buffer after 3.3% and UAUG’s after 7.5%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BAUG vs UAUG: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BAUG	UAUG	BAUG	UAUG
3 months	+3.8%	+2.9%	+0.6 pts	−0.2 pts
6 months	+11.0%	+7.7%	−3.6 pts	−6.8 pts
1 year	+14.0%	+10.4%	−2.0 pts	−5.6 pts
3 years	+67.4%	+50.1%	−11.8 pts	−29.1 pts
Since launch BAUG Aug 2019 · UAUG Aug 2019	+124.1%	+75.0%	−40.0 pts	−89.1 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

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

UAUG

Innovator U.S. Equity Ultra Buffer ETF - Aug · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 14.0%, over a period ending Jul 31, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 5% to 35%

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

Days left 295 295

Starting cap +17.8% +14.0%

Can still gain 13.9% 11.0%

Fall before buffer 3.3% 7.5%

Protection left, index points 9.0% of 9.0% 30.0% of 30.0%

Index return this period +4.2% +4.2%

Fund return this period +3.3% +2.6%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $275m $248m

As of Oct 9, 2026. Source: ETFIQ.

About BAUG

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.

About UAUG

From its price on Oct 9, 2026, the fund can gain about 11.0% more before it reaches its cap. The fund's price can fall 7.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 8.8% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BAUG or UAUG?: From their prices on Oct 9, 2026, BAUG can gain about 13.9% before its cap and UAUG about 11.0%, so BAUG has more room left this period.
Which resets first, BAUG or UAUG?: BAUG ends its outcome period on Jul 31, 2027 and UAUG on Jul 31, 2027. A new cap is set the day after each.
Which is cheaper, BAUG or UAUG?: BAUG and UAUG both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BAUG vs ZAUG BAUG vs GJUL BAUG vs DJUL BAUG vs DDFG UAUG vs PAUG UAUG vs FJUL UAUG vs ZAUG UAUG vs DJUL

SPY →BAUG on its own →UAUG on its own →How every figure is computed →Standards and sources →

Where these figures came from

BAUG and UAUG filings on SEC EDGAR ↗Innovator page for BAUG ↗Innovator page for UAUG ↗

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 pageCitation, APA and Markdown

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

Open data

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