Data as of .
DAUG vs PMSE: which one stands where?
As of Sep 21, 2026 DAUG can fall 6.4% before its buffer engages and PMSE 0.8%, and DAUG resets 11 days sooner.
These are two different products. PMSE is a floor fund, which caps how far a holder can fall. DAUG 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
DAUG resets first, on Aug 20, 2027, 333 days from now; PMSE runs to Aug 31, 2027, 344 days. DAUG can still gain 12.3% before its cap, PMSE 7.5%. A fall from here reaches DAUG’s buffer after 6.4% and PMSE’s after 0.8%. 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 | ||
|---|---|---|---|---|
| DAUG | PMSE | DAUG | PMSE | |
| 3 months | +1.5% | +1.1% | −0.7 pts | −1.1 pts |
| 6 months | +9.2% | +4.4% | −8.8 pts | −13.6 pts |
| 1 year | +9.1% | +5.5% | −7.5 pts | −11.0 pts |
| 3 years | +40.8% | not published | −37.6 pts | not published |
| DAUG FT Vest U.S. Equity Deep Buffer ETF - August Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 13.8%, over a period ending Aug 20, 2027 | PMSE PGIM S&P 500 Max Buffer ETF - September Absorbs the whole loss on SPY and caps the gain at 8.3%, over a period ending Aug 31, 2027 | |
|---|---|---|
| Issuer | First Trust | PGIM |
| Reference index | SPY | SPY |
| Buffer | 5% to 30% | 100% |
| Outcome period | Aug 24, 2026 to Aug 20, 2027 | Sep 1, 2026 to Aug 31, 2027 |
| Days left | 333 | 344 |
| Starting cap | +13.8% | +8.3% |
| Can still gain | 12.3% | 7.5% |
| Fall before buffer | 6.4% | 0.8% |
| Protection left, index points | 25.0% of 25.0% | 100.0% of 100.0% |
| Index return this period | +1.1% | +0.9% |
| Fund return this period | +0.6% | +0.3% |
| State today | Open | Open |
| Expense ratio | 0.85% | 0.50% |
| Net assets | $431m | $7m |
DAUG in plain words
From its price on Sep 21, 2026, the fund can gain about 12.3% more before it reaches its cap. The fund's price can fall 6.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 6.0% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 333 days remained on Sep 21, 2026. On Aug 20, 2027 the period ends and a new cap is set.
PMSE in plain words
From its price on Sep 21, 2026, the fund can gain about 7.5% more before it reaches its cap. The fund's price can fall 0.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.9% 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. 344 days remained on Sep 21, 2026. On Aug 31, 2027 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, DAUG or PMSE?
- From their prices on Sep 21, 2026, DAUG can gain about 12.3% before its cap and PMSE about 7.5%, so DAUG has more room left this period.
- Which resets first, DAUG or PMSE?
- DAUG ends its outcome period on Aug 20, 2027 and PMSE on Aug 31, 2027. A new cap is set the day after each.
- Which is cheaper, DAUG or PMSE?
- DAUG charges 0.85% a year and PMSE charges 0.50%, so PMSE 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, DAUG against PMSE, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/daug-vs-pmse Free to use with attribution; the underlying files are at Open data.