Innovator U.S. Equity Power Buffer ETF - August
$47.18+0.03 (+0.06%)
- 0.79%
- $1.1B
- +12.1%
- 0.00%
- 0.1M sh
- $47.19
- low $41.92high $47.23
The ETF.net PAUG Grade
C
Score 49 out of 100
- 18 of 61
Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D35 out of 100Rank 34 of 61Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C48 out of 100Rank 35 of 57Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B69 out of 100Rank 9 of 59Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A86 out of 100Rank 4 of 61
Our read on PAUG
CA shock absorber with a calendar. PAUG soaks up the first 15% of losses on an S&P 500 ETF over each roughly one-year stretch, trades away some upside via a cap, then resets every August 1.
PAUG seeks to track SPY up to a predetermined upside cap while protecting the first 15% of losses over an approximately annual outcome period, resetting at the end of each period.
Why people hold it
- The first 15 percentage points of reference-fund losses over the outcome period are absorbed before you feel anything. That buffer is written into the fund's documents, not left to a manager's judgment.innovatoretfs.com
- What's being shaped is plain vanilla US large cap: the reference asset is SPY, the S&P 500 tracker, not a bespoke smart-beta index built for the brochure.
- Live since August 2019, so the annual reset has run through several very different markets. It also has eleven monthly siblings, so the choice is a start date, not a strategy.
- Among the stronger implementations in a crowded buffer field, where a lot of look-alike funds charge similar money for similar mechanics.
Worth knowing
- Upside is capped, and the cap is set fresh each period. Buy mid-period and you inherit whatever cap and buffer remain, which can look nothing like the headline terms.
- 0.79% a year is the price of the options engineering. It sits right at the median for buffer funds and well above plain index exposure.
- One of the quieter tickers in a busy category, so limit orders and a look at the spread matter more here than with a mega-fund.
PAUG Holdings
- Stocks
- 3
- 104%
- Spy 07/30/2027 7.47 C
Sectors
- Technology40.1%
- Financials11.3%
- Communication9.9%
- Health Care9.4%
- Consumer Discretionary8.7%
- Industrials7.6%
- Consumer Staples4.4%
- Energy3.4%
- Utilities1.9%
- Real Estate1.7%
- Materials1.6%
PAUG Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
PAUG$11,210
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PAUG |
|---|---|
| Year to date | +9.0% |
| 1 month | +1.1% |
| 3 months | +2.9% |
| 1 year | +12.1% |
| 3 years | +14.6% |
| 5 years | +9.9% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PAUG |
|---|---|---|
| 2026 YTD | +9.0% | |
| 2025 | +12.3% | |
| 2024 | +15.4% | |
| 2023 | +17.7% | |
| 2022 | −6.9% | |
| 2021 | +7.6% | |
| 2020 | +9.8% |
PAUG in the news
PAUG Dividends
- 0.00%
No distributions in the last 12 months.
Distribution history
PAUG Risk
- 6.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.49
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −11.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.49
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PAUG Cost
0.79%
PAUG0.79%
- The middle half of S&P 500 Buffer 15% funds
- Median 0.79%
23 of the 51 S&P 500 Buffer 15% funds charge less.
Other funds in S&P 500 Buffer 15%
- CPJANInnovator U.S. Equity Power Buffer ETFExpense ratio 0.79%1 year return +12.7%
- CLOCTInnovator Premium Income 15 Buffer ETFExpense ratio 0.79%1 year return +6.2%
- CPJULInnovator U.S. Equity Power Buffer ETFExpense ratio 0.79%1 year return +11.1%
- CPMARInnovator U.S. Equity Power Buffer ETF - MarchExpense ratio 0.79%1 year return +13.1%
- CPAPRInnovator U.S. Equity Power Buffer ETFExpense ratio 0.79%1 year return +13.6%