CAUG vs ZAUG: Cap, Buffer & Days Left
As of Oct 9, 2026 CAUG can fall 2.7% before its buffer engages and ZAUG 1.5%. Net assets on Oct 9, 2026: $1m for Corgi U.S. Equities 15% Structured Buffer ETF - August Series and $163m for Innovator Equity Defined Protection ETF - 1 Yr August.
CAUG costs 0.49 points a year less; ZAUG is far larger, $163m against $1m.
| CAUG | ZAUG | |
|---|---|---|
| Expense ratio | 0.30% | 0.79% |
| Net assets | $1m | $163m |
| Total return, 1 year | not published | +5.9% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 2.7% | 4.0% |
CAUG: reference +2.8% since period start, fund +2.5%; buffer 0 to −15; cap +15.0%; Between buffer and cap. Figures to Oct 9, 2026.
CAUG: reference +2.8% since period start, fund +2.5%; buffer 0 to −15; cap +15.0%; Between buffer and cap. Figures to Oct 9, 2026.
ZAUG: reference +4.2% since period start, fund +1.4%; buffer Floor; cap +8.4%; Full floor. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
These are two different products. ZAUG is a floor fund, which caps how far a holder can fall. CAUG is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
CAUG resets first, on Jul 31, 2027, 295 days from now; ZAUG runs to Jul 31, 2027, 295 days. A fall from here reaches CAUG’s buffer after 2.7% and ZAUG’s after 1.5%. 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 | |||
|---|---|---|---|---|
| Window | CAUG | ZAUG | CAUG | ZAUG |
| 3 months | not published | +1.5% | not published | −1.6 pts |
| 6 months | not published | +3.8% | not published | −10.8 pts |
| 1 year | not published | +5.9% | not published | −10.1 pts |
Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
CAUG in plain words
The fund's price can fall 2.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.7% 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. 295 days remained on Oct 9, 2026. On Jul 31, 2027 the period ends and a new cap is set.
ZAUG in plain words
From its price on Oct 9, 2026, the fund can gain about 6.7% more before it reaches its cap. The fund's price can fall 1.5% 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: 100.0% of the 100.0% buffer still sits below today's SPY level.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
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.
ETFIQ, CAUG against ZAUG, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/caug-vs-zaug
ETFIQ. (Oct 9, 2026). CAUG against ZAUG. Retrieved from https://etfiq.com/compare/buffer/caug-vs-zaug
[CAUG against ZAUG (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/caug-vs-zaug)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.