Data as of Nov 4, 2026.
PAUG vs PMAU: Cap, Buffer & Days Left
As of Nov 4, 2026 PAUG can fall 2.4% before its buffer engages and PMAU 1.8%.
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Net assets on Nov 4, 2026: $1.0bn for Innovator U.S. Equity Power Buffer ETF - Aug and $6.5m for PGIM S&P 500 Max Buffer ETF - August.
PAUG: reference +2.6% since period start, fund +2.2%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.
PAUG: reference +2.6% since period start, fund +2.2%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.PMAU: reference +2.6% since period start, fund +1.3%; buffer Floor; cap +7.9%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PMAU costs 0.29 points a year less; their one-year returns differ by 3.9 points; PAUG is far larger, $1.0bn against $6.5m.
Points (pts) are percentage points.
| Measure | PAUG | PMAU |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.1% | +6.2% |
| Drawdown | ||
| Index fall to the buffer | 2.5% | 2.6% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.50% |
| Net assets | $1.0bn | $6.5m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | PAUG | PMAU | PAUG | PMAU |
| 3 months | +0.7% | +0.7% | +1.1 pts | +1.1 pts |
| 6 months | +4.5% | +2.8% | 0.0 pts | −1.7 pts |
| 1 year | +10.1% | +6.2% | −3.5 pts | −7.4 pts |
| 3 years | +49.7% | – | −26.7 pts | – |
| Since launchNot the same days: PAUG Aug 2019 · PMAU Aug 2025 | +90.1% | +8.3% | −69.9 pts | −15.0 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. PMAU is a floor fund, which caps how far a holder can fall. PAUG 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
PAUG resets first, on Jul 31, 2027, 269 days from now; PMAU runs to Jul 31, 2027, 269 days. PAUG can still gain 11.1% before its cap, PMAU 6.0%. A fall from here reaches PAUG’s buffer after 2.4% and PMAU’s after 1.8%. Both track SPY, so what separates them is where each is in its own period.
PAUG
From its price on Nov 4, 2026, the fund can gain about 11.1% more before it reaches its cap. The fund's price can fall 2.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.5% 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. 269 days remained on Nov 4, 2026. On Jul 31, 2027 the period ends and a new cap is set.
PMAU
From its price on Nov 4, 2026, the fund can gain about 6.0% more before it reaches its cap. The fund's price can fall 1.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% 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
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How this is computed
ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, PAUG against PMAU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/paug-vs-pmau
ETFIQ. (Nov 4, 2026). PAUG against PMAU. Retrieved from https://etfiq.com/compare/buffer/paug-vs-pmau
[PAUG against PMAU (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/paug-vs-pmau)
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