Which has more room to gain, KSEP or SAUG?

From their prices on Oct 1, 2026, KSEP can gain about 20.9% before its cap and SAUG about 20.9%, so KSEP has more room left this period.

Which resets first, KSEP or SAUG?

KSEP ends its outcome period on Aug 31, 2027 and SAUG on Aug 20, 2027. A new cap is set the day after each.

Which is cheaper, KSEP or SAUG?

KSEP charges 0.79% a year and SAUG charges 0.90%, so KSEP is cheaper. Fees come from each fund's prospectus.

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KSEP vs SAUG: which one stands where?

As of Oct 1, 2026 KSEP can fall 0.0% before its buffer engages and SAUG 0.0%, and SAUG resets 11 days sooner. Innovator U.S. Small Cap Power Buffer ETF - Sep and FT Vest U.S. Small Cap Moderate Buffer ETF - August.

0.0%

KSEP can fall this far before its buffer

0.0%

SAUG can fall this far before its buffer

20.9%

KSEP can still gain

20.9%

SAUG can still gain

KSEPBuffer working

KSEP: reference −5.5% since period start, fund −2.3%; buffer 0 to −15; cap +18.3%; Buffer working.

SAUGBuffer working

SAUG: reference −7.3% since period start, fund −3.4%; buffer 0 to −15; cap +17.8%; Buffer working.

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

KSEP 22.4

SAUG 7.7

0.2, the lowest in this set99.8, the highest

A percentile among the 293 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

SAUG resets first, on Aug 20, 2027, 324 days from now; KSEP runs to Aug 31, 2027, 335 days. KSEP can still gain 20.9% before its cap, SAUG 20.9%. A fall from here reaches KSEP’s buffer after 0.0% and SAUG’s after 0.0%. Both track IWM, 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 return		Gap to the reference
Window	KSEP	SAUG	KSEP	SAUG
3 months	−0.9%	−2.4%	+6.0 pts	+4.5 pts
6 months	+7.9%	+5.0%	−4.0 pts	−6.9 pts
1 year	+11.6%	+8.4%	−4.5 pts	−7.7 pts
3 years	not published	+38.2%	not published	−24.4 pts

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

On the same fields

KSEP

Innovator U.S. Small Cap Power Buffer ETF - Sep · Absorbs the first 15% of loss on IWM and caps the gain at 18.3%, over a period ending Aug 31, 2027

SAUG

FT Vest U.S. Small Cap Moderate Buffer ETF - August · Absorbs the first 15% of loss on IWM and caps the gain at 17.8%, over a period ending Aug 20, 2027

Issuer Innovator First Trust

Reference index IWM IWM

Buffer 15% 15%

Outcome period Aug 31, 2026 to Aug 31, 2027 Aug 24, 2026 to Aug 20, 2027

Days left 335 324

Starting cap +18.3% +17.8%

Can still gain 20.9% 20.9%

Fall before buffer 0.0% 0.0%

Protection left, index points 9.5% of 15.0% 7.7% of 15.0%

Index return this period −5.5% −7.3%

Fund return this period −2.3% −3.4%

State today Buffer working Buffer working

Expense ratio 0.79% 0.90%

Net assets $38m $124m

KSEP and SAUG on the same fields, as of Oct 1, 2026. Source: ETFIQ.

KSEP in plain words

From its price on Oct 1, 2026, the fund can gain about 20.9% more before it reaches its cap. Protection left, in index points: 9.5% of the 15.0% buffer still sits below today's IWM level. 335 days remained on Oct 1, 2026. On Aug 31, 2027 the period ends and a new cap is set.

SAUG in plain words

Protection left, in index points: 7.7% of the 15.0% buffer still sits below today's IWM level. 324 days remained on Oct 1, 2026. On Aug 20, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, KSEP or SAUG?: From their prices on Oct 1, 2026, KSEP can gain about 20.9% before its cap and SAUG about 20.9%, so KSEP has more room left this period.
Which resets first, KSEP or SAUG?: KSEP ends its outcome period on Aug 31, 2027 and SAUG on Aug 20, 2027. A new cap is set the day after each.
Which is cheaper, KSEP or SAUG?: KSEP charges 0.79% a year and SAUG charges 0.90%, so KSEP is cheaper. Fees come from each fund's prospectus.

Other comparisons

IWM →KSEP on its own →SAUG on its own →How every figure is computed →Standards and sources →

Where these figures came from

KSEP filings on SEC EDGAR ↗Innovator page for KSEP ↗SAUG filings on SEC EDGAR ↗First Trust page for SAUG ↗

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, KSEP against SAUG, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ksep-vs-saug

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.