Skip to content
etf.net

AUGP vs FSEP

PGIM S&P 500 Buffer 12 ETF - August

AUGPBCboe

FT Vest U.S. Equity Buffer ETF - September

FSEPCCboe

Overlap

Expense ratio

AUGP −0.35pt a year

AUGP0.50%FSEP0.85%

Avg volume · 30D

FSEP 6.8×the volume

AUGP7.35KFSEP49.9K

AUGP vs FSEP Performance

Oct 31, 2025 – Nov 2, 2026

+9.9%AUGP+11.1%FSEP

Oct 31, 2025 to Nov 2, 2026. AUGP +9.9%. FSEP +11.1%. Use the arrow keys to read each point.−2.5%0%2.5%5%7.5%Oct 2025May 2026Nov 2026
Expense ratio
AUGP 0.50%, better
FSEP 0.85%
Fund size
AUGP $38M
FSEP $1.43B
1Y total return
AUGP +9.9%
FSEP +11.1%, better
Holdings
AUGP 4
FSEP 3
Avg volume (30D)
AUGP 7.35K sh
FSEP 49.9K sh, better
NAV per share
AUGP $33.89
FSEP $56.90
52W range

ETF.net Grade

AUGP: Cost 91, Risk 72, Mission not scored, Tradability 24, Holdings not scored, Durability 38. FSEP: Cost 11, Risk 52, Mission not scored, Tradability 89, Holdings 54, Durability 83.
Pillar letters and Scores for AUGP, FSEP, with each pillar’s weight
PillarAUGPFSEP
Cost30% weightA91HigherF11
Mission25% weightNot scoredNot scored
Risk15% weightA72HigherC52
Tradability15% weightF24A89Higher
Holdings10% weightNot scoredC54
Durability5% weightD38A83Higher

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 FSEP 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 FSEP 48th 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 48CFJULFT Vest U.S. Equity Buffer ETF - JulyScore 45
  5. Rank 48CFSEPFT Vest U.S. Equity Buffer ETF - SeptemberScore 45
  6. Rank 48CXBFRInnovator Equity Managed 10 Buffer ETFScore 45

Our read on each fund

ETF.net Research

AUGPBPGIM S&P 500 Buffer 12 ETF - August

FSEPCFT Vest U.S. Equity Buffer ETF - September

In short

AUGP No data

FSEP The September rung of First Trust's twelve-month buffer ladder. It follows the price return of State Street's S&P 500 ETF, absorbs the first 10% of losses, and trades away upside above a cap that resets every September.

Stated mandate

AUGP No data

FSEP The fund seeks to track the price return of the State Street® SPDR® S&P 500® ETF Trust before fees and expenses, subject to a 14.00% upside cap and protection against the first 10% of losses during the stated outcome period.

Why people hold it

AUGP No data

  • FSEP The cushion is written into the mandate, not left to a manager's judgment: across each one-year period the options package absorbs the first 10% of a decline in the reference S&P 500 ETF, before fees.
  • Twelve sibling funds, one per calendar month, all at the same 0.85% fee. Pick a start month or stack several so your protection isn't tied to a single September date.
  • Running since 2020 and now a multi-billion-dollar fund with moderate trading activity, so the September vintage is a well-used rung rather than a thin experiment.

Worth knowing

AUGP No data

  • FSEP At 0.85% a year it prices above the typical buffer fund, and cheaper paths to a 10% buffer exist (BUFB at 0.10%, ZALT at 0.69%).
  • Built to be held from one September reset to the next. Buy mid-period and your effective cap and leftover cushion differ from the stated terms.
  • No distributions, so the payoff arrives in the share price. And the cushion stops at 10%; declines past that land on you alongside the reference ETF.

Full AUGP profile⁠

Full FSEP profile⁠

AUGP vs FSEP 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 FSEP Cost

Overpaying FSEP vs AUGP

$6,220

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

  • AUGP 0.50%

    $9,979

  • FSEP 0.85%

    $16,199

$10,000
30 years

Cost over time

  • AUGP 0.50%
  • FSEP 0.85%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FSEP $16,199AUGP $9,979

Year by year

YearAUGPFSEPOverpaying
10$900$1,508$608
20$3,460$5,706$2,246
30$9,979$16,199$6,220

Expense ratio

  • 0.50%AUGP, cheaper
  • 0.85%FSEP
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

AUGP 5th cheapest of 77 funds

FSEP 60th cheapest of 77 funds

AUGP vs FSEP Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
AUGP None
FSEP None

Distribution history

AUGPAll AUGP payments⁠

No distribution history available.

FSEPAll FSEP payments⁠

No distribution history available.

AUGP vs FSEP 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 2024FSEP 7.5%
Return per unit of riskSharpe ratio, 3 years
AUGP 1.31since Jun 2024FSEP 1.43
Worst fallMax drawdown, 5 years
AUGP −11.1%since May 2024FSEP −13.8%
Market sensitivityBeta, 5 years
AUGP 0.53FSEP 0.62

AUGP and FSEP in the news

All news⁠

Popular comparisons

  • AUGPBvsZALTA

    PGIM S&P 500 Buffer 12 ETF - August · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.50% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FSEPCvsZALTA

    FT Vest U.S. Equity Buffer ETF - September · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.85% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AUGPBvsTENJB

    PGIM S&P 500 Buffer 12 ETF - August · iShares Large Cap 10% Target Buffer Jun ETF

    Expense ratio
    0.50% · 0.53%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FSEPCvsTENJB

    FT Vest U.S. Equity Buffer ETF - September · iShares Large Cap 10% Target Buffer Jun ETF

    Expense ratio
    0.85% · 0.53%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AUGPBvsSIXJB

    PGIM S&P 500 Buffer 12 ETF - August · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.50% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FSEPCvsSIXJB

    FT Vest U.S. Equity Buffer ETF - September · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.85% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.