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AUGP vs BSEP

PGIM S&P 500 Buffer 12 ETF - August

AUGPBCboe

Innovator U.S. Equity Buffer ETF

BSEPBCboe

Overlap

0.0%by weight

Expense ratio

AUGP −0.29pt a year

AUGP0.50%BSEP0.79%

Avg volume · 30D

BSEP 7.6×the volume

AUGP7.35KBSEP56.1K

AUGP vs BSEP Performance

Oct 31, 2025 – Oct 30, 2026

+10.3%AUGP+10.2%BSEP

Oct 31, 2025 to Oct 30, 2026. AUGP +10.3%. BSEP +10.2%. Use the arrow keys to read each point.−2.5%0%2.5%5%12.5%Oct 2025Apr 2026Oct 2026
Expense ratio
AUGP 0.50%, better
BSEP 0.79%
Fund size
AUGP $38M
BSEP $459M
1Y total return
AUGP +10.3%, better
BSEP +10.2%
Yield (12M)
AUGP No data
BSEP 0.00%
Holdings
AUGP 4
BSEP 503
Avg volume (30D)
AUGP 7.35K sh
BSEP 56.1K sh, better
NAV per share
AUGP $34.23
BSEP $53.71
52W range

ETF.net Grade

AUGP: Cost 91, Risk 72, Mission not scored, Tradability 24, Holdings not scored, Durability 38. BSEP: Cost 40, Risk 40, Mission 97, Tradability 66, Holdings 90, Durability 76.
Pillar letters and Scores for AUGP, BSEP, with each pillar’s weight
PillarAUGPBSEP
Cost30% weightA91HigherC40
Mission25% weightNot scoredA97
Risk15% weightA72HigherC40
Tradability15% weightF24B66Higher
Holdings10% weightNot scoredA90
Durability5% weightD38A76Higher

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

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AUGP and BSEP 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 BSEP 30th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 67
  3. Rank 3BTENJiShares Large Cap 10% Target Buffer Jun ETFScore 66
  4. Rank 30CBFEBInnovator U.S. Equity Buffer ETF - FebruaryScore 54
  5. Rank 30BBSEPInnovator U.S. Equity Buffer ETFScore 54
  6. Rank 32CAUGTAllianzIM U.S. Equity Buffer10 Aug ETFScore 53

Our read on each fund

ETF.net Research

AUGPBPGIM S&P 500 Buffer 12 ETF - August

BSEPBInnovator U.S. Equity Buffer ETF

In short

AUGP No data

BSEP Innovator's September-reset buffer fund: it tracks SPY, absorbs the first 9% of a decline, and trades that cushion for a cap reset every fall. Downside padding with a ceiling, on a schedule you can mark on a calendar.

Stated mandate

AUGP No data

BSEP The fund seeks to track the return of SPDR S&P 500 ETF Trust, subject to a predetermined cap, while protecting investors against the first 9% of losses during the outcome period. It resets approximately annually.

Why people hold it

AUGP No data

  • BSEP Absorbs the first 9% of an SPY decline over each roughly one-year outcome period, a cushion written into the fund's documents rather than left to a manager's call.
  • The terms are mechanical and public: SPY as the reference, a 9% buffer, a cap set at each September reset, the period running through the end of August.
  • The 0.79% fee lands right at the median for buffer funds, so the defined-outcome wrapper isn't costing a premium versus the pack.
  • Running since 2019, with years of completed reset cycles behind it across both rising and falling markets.

Worth knowing

AUGP No data

  • BSEP Cheaper buffered exposure exists. Innovator's own laddered BUFB charges 0.10% and spreads money across staggered outcome periods instead of one annual window.
  • Trading is thin next to the category's larger funds, so spreads can widen. Limit orders are the usual defense.
  • No distributions: the payoff is built around price movement inside the cap and buffer. Buying mid-period also means a different cap and remaining cushion than a fresh start.

Full AUGP profile⁠

Full BSEP profile⁠

AUGP vs BSEP Holdings

How AUGP and BSEP differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AUGP and 0.0% of BSEP.

Level by level

  • Asset classAlternatives, Equity0.0%
  • Holdings0 in both0.0%
  • Countryby domicile100%

Sector

No Sector split for AUGP.

Country, concentration and asset class

Country by domicile

Country weights in AUGP and BSEP, widest gap first
CountryMore in AUGPMore in BSEP
United StatesSame weight
SwitzerlandSame weight
ChinaSame weight
MexicoSame weight
IrelandSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • AUGP103.3%
  • BSEP40.2%

Securities held

  • AUGP3
  • BSEP503

Asset class

AUGP
Alternatives
BSEP
Equity

Holdings

  • Only in AUGP3
  • In both0
  • Only in BSEP503

Only in AUGP

3 securities, 100% of AUGP by weight

  • 4SPY Us 07/30/27 C7.4798.85%
  • 4SPY Us 07/30/27 P747.033.59%
  • Net Current Assets<0.01%

Only in BSEP

503 securities, 100% of BSEP by weight

  • Apple Inc7.53%
  • NVIDIA Corp7.42%
  • Microsoft Corp5.81%

Weight gaps

AUGP and BSEP share no securities.

All AUGP holdings⁠All BSEP 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 BSEP Cost

Overpaying BSEP vs AUGP

$5,195

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

  • AUGP 0.50%

    $9,979

  • BSEP 0.79%

    $15,174

$10,000
30 years

Cost over time

  • AUGP 0.50%
  • BSEP 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BSEP $15,174AUGP $9,979

Year by year

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

AUGP 5th cheapest of 77 funds

BSEP 34th cheapest of 77 funds

AUGP vs BSEP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AUGP No data
BSEP 0.00%
Payout (12M)
AUGP None
BSEP None

Distribution history

Per share, 2019, same scale for both

AUGPAll AUGP payments⁠

No distribution history available.

BSEP1 paymentAll BSEP payments⁠
One bar per payment. 1 payment in 2019. Nov 19, 2019 $0.36. Use the arrow keys to read each point.$0$0.252019

AUGP vs BSEP 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 2024BSEP 8.1%
Return per unit of riskSharpe ratio, 3 years
AUGP 1.31since Jun 2024BSEP 1.50
Worst fallMax drawdown, 5 years
AUGP −11.1%since May 2024BSEP −15.0%
Market sensitivityBeta, 5 years
AUGP 0.53BSEP 0.65

AUGP and BSEP in the news

All news⁠

Popular comparisons

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