AUGP vs AUGZ: Grades, Fees and Holdings Compared

PGIM S&P 500 Buffer 12 ETF - August

AUGPBCboe

TrueShares Structured Outcome (August) ETF

AUGZDCboe

Overlap

0.0%by weight

Expense ratio

AUGP −0.29pt a year

AUGP0.50%AUGZ0.79%

Avg volume · 30D

AUGP 2.6×the volume

AUGP7.49KAUGZ2.88K

AUGP vs AUGZ Performance

Nov 5, 2025 – Nov 5, 2026

+8.9%AUGP+5.9%AUGZ

Expense ratio: AUGP 0.50%, better; AUGZ 0.79%
Fund size: AUGP $38M; AUGZ $44M
1Y total return: AUGP +8.9%, better; AUGZ +5.9%
Yield (12M): AUGP No data; AUGZ 3.44%
Holdings: AUGP 5; AUGZ 6
Avg volume (30D): AUGP 7.49K sh, better; AUGZ 2.88K sh
NAV per share: AUGP $34.19; AUGZ $46.10
52W range

ETF.net Grade

Pillar letters and Scores for AUGP, AUGZ, with each pillar’s weight
Pillar	AUGP	AUGZ
Cost30% weight	A91Higher	C40
Mission25% weight	Not scored	Not scored
Risk15% weight	B68Higher	D25
Tradability15% weight	F24	D29Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	D32	C52Higher

Rank among S&P 500 Buffer 9-12% funds

How we build Categories ›

Same Category. AUGP and AUGZ are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds

See all 77 ›

AUGP ranks 3rd and AUGZ 72nd of 77 funds in the S&P 500 Buffer 9-12% Category.

Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
Rank 2BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 66
Rank 3BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 65
Rank 4BBUFMAB Moderate Buffer ETFScore 64
Rank 70DFEBZTrueShares Structured Outcome (February) ETFScore 35
Rank 72DAUGZTrueShares Structured Outcome (August) ETFScore 34
Rank 72DMARZTrueShares Structured Outcome (March) ETFScore 34

Our read on each fund

ETF.net Research

AUGPBPGIM S&P 500 Buffer 12 ETF - August

AUGZDTrueShares Structured Outcome (August) ETF

In short

AUGP No data

AUGZ TrueShares pioneered the uncapped buffer format in 2020, and AUGZ is the August entry: it buffers the first 8% to 12% of S&P 500 price-index losses over each 12-month period, with no preset ceiling on the upside.

Stated mandate

AUGP No data

AUGZ The Fund seeks to track the S&P 500 Price Return Index before fees and expenses while using an options strategy to buffer the first 8% to 12% of index losses over each 12-month August investment period.

Why people hold it

AUGP No data

AUGZ The uncapped original. TrueShares launched this no-hard-cap format in 2020; most buffer funds trade their downside cushion for a ceiling on gains.true-shares.com
Plain machinery: calls bought and puts sold on the S&P 500 price index, buffering the first 8% to 12% of losses (the adviser targets 10%) each August-to-July period.sec.gov true-shares.com
Ten sibling funds reset in different months, from JANZ through DECZ, so the August start date is a choice rather than the only door in.true-shares.com

Worth knowing

AUGP No data

AUGZ The 0.79% fee, with no waiver attached, lands near the category norm but above AUGP's 0.50% on the same August cycle, PQX at 0.50% and ZALT at 0.69%.
The buffer is a target range measured before fees across the full 12-month period, not a promise; buy mid-period and you get whatever cushion is left.sec.gov
Options reference the price index, so S&P 500 dividends sit outside the payoff, and the cost of the options trims how much of a rally comes through.sec.gov

Full AUGP profile⁠

Full AUGZ profile⁠

AUGP vs AUGZ Holdings

How AUGP and AUGZ differ

Overlap by weight

0.0%

Level by level

Asset classAlternatives, Stocks0.0%
Holdings0 in both0.0%
Sector11 Sectors96.7%
Countryby domicile99.5%

Sector

Sector weights in AUGP and AUGZ, widest gap first
Sector	Gap	AUGP	AUGZ
Communication	AUGZ +1.6 points	8.4%	10.0%
Technology	AUGP +1.3 points	39.2%	37.9%
Health Care	AUGP +0.9 points	10.0%	9.1%
Industrials	AUGZ +0.8 points	7.6%	8.4%
Energy	AUGP +0.8 points	3.8%	3.0%
Consumer Discretionary	AUGZ +0.5 points	9.1%	9.6%
Financials	AUGP +0.2 points	11.9%	11.7%
Utilities	AUGZ +0.3 points	2.0%	2.3%
Real Estate	AUGZ +0.1 points	1.8%	1.9%
Materials	AUGZ +0.1 points	1.6%	1.7%
Consumer Staples	AUGP +0.1 points	4.7%	4.6%

Country, concentration and asset class

Country by domicile

Country weights in AUGP and AUGZ, widest gap first
Country	Gap	AUGP	AUGZ
United States	AUGZ +0.5 points	99.5%	100.0%
Switzerland	AUGP +0.3 points	0.3%	0.0%
China	AUGP +0.1 points	0.1%	0.0%
Mexico	AUGP +0.1 points	0.1%	0.0%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

AUGP103.1%
AUGZ102.1%

Securities held

AUGP3
AUGZ3

Asset class

AUGP: Alternatives
AUGZ: Stocks

Holdings

Only in AUGP3
In both0
Only in AUGZ3

Only in AUGP

3 securities, 100% of AUGP by weight

4SPY Us 07/30/27 C7.4798.59%
4SPY Us 07/30/27 P747.033.68%
Net Current Assets<0.01%

Only in AUGZ

3 securities, 94.6% of AUGZ by weight

Treasury Bill B 07/08/2794.28%
Broker Sweep0.19%
State Street Inst U.s. Government Mmkt Admn Class0.09%

Weight gaps

AUGP and AUGZ share no securities.

All AUGP holdings⁠All 7 AUGZ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AUGP vs AUGZ Cost

Overpaying AUGZ vs AUGP

$5,195

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

AUGP 0.50%
$9,979
AUGZ 0.79%
$15,174

Amount$10,000

Years30 years

Cost over time

AUGP 0.50%
AUGZ 0.79%
Overpaying

Year by year

Year	AUGP	AUGZ	Overpaying
10	$900	$1,405	$505
20	$3,460	$5,331	$1,871
30	$9,979	$15,174	$5,195

Expense ratio

0.50%AUGP, cheaper
0.79%AUGZ

AUGP0.50%AUGZ0.79%

0.25%0.85%

Middle half of S&P 500 Buffer 9-12% funds
Median 0.79%

AUGP 5th cheapest of 77 funds

AUGZ 34th cheapest of 77 funds

AUGP vs AUGZ Dividends

Last 12 months to Nov 5, 2026

Yield (12M): AUGP No data; AUGZ 3.44%
Payout (12M): AUGP None; AUGZ $1.53
Last payment: AUGP No data; AUGZ $1.53
Ex-dividend: AUGP No data; AUGZ Dec 24, 2025
Paid on: AUGP No data; AUGZ Dec 26, 2025
Frequency: AUGP No data; AUGZ Annual

Distribution history

Per share, 2022 to 2026, same scale for both

AUGPAll AUGP payments⁠

No distribution history available.

AUGZAnnual · 4 paymentsAll AUGZ payments⁠

AUGP vs AUGZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AUGP 6.2%since Jun 2024AUGZ 9.5%
Return per unit of riskSharpe ratio, 3 years: AUGP 1.31since Jun 2024AUGZ 1.20
Worst fallMax drawdown, 5 years: AUGP −11.1%since May 2024AUGZ −15.7%
Market sensitivityBeta, 5 years: AUGP 0.54AUGZ 0.73; Market = 1

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