AUGP vs BJAN: Grades, Fees and Holdings Compared

PGIM S&P 500 Buffer 12 ETF - August

AUGPBCboe

Innovator U.S. Equity Buffer ETF

BJANCCboe

Overlap

0.0%by weight

Expense ratio

AUGP −0.29pt a year

AUGP0.50%BJAN0.79%

Avg volume · 30D

BJAN 2.4×the volume

AUGP7.43KBJAN17.9K

AUGP vs BJAN Performance

Nov 7, 2025 – Nov 9, 2026

+10.8%AUGP+12.9%BJAN

Expense ratio: AUGP 0.50%, better; BJAN 0.79%
Fund size: AUGP $38M; BJAN $338M
1Y total return: AUGP +10.8%; BJAN +12.9%, better
Yield (12M): AUGP No data; BJAN 0.00%
Holdings: AUGP 4; BJAN 3
Avg volume (30D): AUGP 7.43K sh; BJAN 17.9K sh, better
NAV per share: AUGP $33.29; BJAN $59.06
52W range

ETF.net Grade

Pillar letters and Scores for AUGP, BJAN, with each pillar’s weight
Pillar	AUGP	BJAN
Cost30% weight	A91Higher	C40
Mission25% weight	Not scored	Not scored
Risk15% weight	B69Higher	C51
Tradability15% weight	D25	A82Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	D39	A82Higher

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

How we build Categories ›

Same Category. AUGP and BJAN 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 2nd and BJAN 26th of 77 funds in the S&P 500 Buffer 9-12% Category.

Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 76
Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 66
Rank 2BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 66
Rank 24BSIXFAllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETFScore 56
Rank 26CBJANInnovator U.S. Equity Buffer ETFScore 55
Rank 26BBSEPInnovator U.S. Equity Buffer ETFScore 55

Our read on each fund

ETF.net Research

AUGPBPGIM S&P 500 Buffer 12 ETF - August

BJANCInnovator U.S. Equity Buffer ETF

In short

AUGP No data

BJAN A written-down deal instead of a forecast: BJAN absorbs the first 9% of SPDR S&P 500 ETF Trust losses over a one-year outcome period that resets every January, and gives up upside above a cap in exchange. It has run that same playbook since 2019.

Stated mandate

AUGP No data

BJAN The Fund seeks to match the return of the SPDR S&P 500 ETF Trust up to a stated upside cap while protecting against the first 9% of losses during the applicable outcome period.

Why people hold it

AUGP No data

BJAN The terms are spelled out in the prospectus, not implied: first 9% of reference losses absorbed, upside capped, one-year outcome period starting each January.innovatoretfs.com
Trading since January 2019, so the January series has rolled through real market cycles rather than arriving on the back of a model.
The 0.79% expense ratio sits right at the median for buffer funds built on the same reference, so you are paying the going rate for the structure.
Stands in the upper half of its buffer-fund peer group, with a long operating record doing the most to hold it there.

Worth knowing

AUGP No data

BJAN The cap is reset each January and set by option pricing at the time. Buy mid-period and you get the buffer and upside that remain, not the headline terms.innovatoretfs.com
Trades lightly next to the busiest buffer funds, which can mean wider spreads. Limit orders do more work here than in a mega-cap index fund.
Cheaper routes to a similar trade exist in the same cohort: BUFB ladders buffers across months at 0.10%, ZALT runs a quarterly reset at 0.69%.

Full AUGP profile⁠

Full BJAN profile⁠

AUGP vs BJAN Holdings

How AUGP and BJAN differ

Overlap by weight

0.0%

Level by level

Asset classAlternatives, Stocks0.0%
Holdings0 in both0.0%
Sector11 Sectors98.1%
Countryby domicile99.99%

Sector

Sector weights in AUGP and BJAN, widest gap first
Sector	Gap	AUGP	BJAN
Technology	BJAN +1.5 points	36.7%	38.2%
Consumer Discretionary	AUGP +0.5 points	9.7%	9.2%
Financials	AUGP +0.5 points	12.5%	12.0%
Communication	AUGP +0.4 points	8.8%	8.4%
Energy	BJAN +0.4 points	3.5%	3.9%
Health Care	AUGP +0.2 points	10.5%	10.3%
Consumer Staples	AUGP +0.2 points	5.1%	4.9%
Real Estate	AUGP +0.1 points	1.9%	1.8%
Industrials	Same weight	7.6%	7.6%
Utilities	Same weight	2.1%	2.1%
Materials	Same weight	1.6%	1.6%

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

AUGP103.5%
BJAN100.8%

Securities held

AUGP3
BJAN3

Asset class

AUGP: Alternatives
BJAN: Stocks

Holdings

Only in AUGP3
In both0
Only in BJAN3

Only in AUGP

3 securities, 100% of AUGP by weight

4SPY Us 07/30/27 C7.4796.98%
4SPY Us 07/30/27 P747.035.69%
Net Current Assets<0.01%

Only in BJAN

3 securities, 100% of BJAN by weight

Spy 12/31/2026 6.83 C99.30%
Spy 12/31/2026 681.93 P1.19%
Us Bank Mmda - Usbgfs 9 09/01/20370.31%

Weight gaps

AUGP and BJAN share no securities.

All AUGP holdings⁠All 6 BJAN 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 BJAN Cost

Overpaying BJAN vs AUGP

$5,195

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

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

Amount$10,000

Years30 years

Cost over time

AUGP 0.50%
BJAN 0.79%
Overpaying

Year by year

Year	AUGP	BJAN	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%BJAN

AUGP0.50%BJAN0.79%

0.25%0.85%

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

AUGP 5th cheapest of 77 funds

BJAN 34th cheapest of 77 funds

AUGP vs BJAN Dividends

Last 12 months to Nov 9, 2026

Yield (12M): AUGP No data; BJAN 0.00%
Payout (12M): AUGP None; BJAN None

Distribution history

Per share, 2019, same scale for both

AUGPAll AUGP payments⁠

No distribution history available.

BJAN1 paymentAll BJAN payments⁠

AUGP vs BJAN 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 2024BJAN 8.6%
Return per unit of riskSharpe ratio, 3 years: AUGP 1.31since Jun 2024BJAN 1.55
Worst fallMax drawdown, 5 years: AUGP −11.1%since May 2024BJAN −17.4%
Market sensitivityBeta, 5 years: AUGP 0.54BJAN 0.72; Market = 1

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