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AUGP vs SEPZ

PGIM S&P 500 Buffer 12 ETF - August

AUGPBCboe

TrueShares Structured Outcome (September) ETF

SEPZDCboe

Overlap

Expense ratio

AUGP −0.29pt a year

AUGP0.50%SEPZ0.79%

Avg volume · 30D

SEPZ 1.9×the volume

AUGP7.35KSEPZ14K

AUGP vs SEPZ Performance

Oct 31, 2025 – Oct 30, 2026

+10.3%AUGP+8.5%SEPZ

Oct 31, 2025 to Oct 30, 2026. AUGP +10.3%. SEPZ +8.5%. Use the arrow keys to read each point.−5%0%5%Oct 2025Apr 2026Oct 2026
Expense ratio
AUGP 0.50%, better
SEPZ 0.79%
Fund size
AUGP $38M
SEPZ $106M
1Y total return
AUGP +10.3%, better
SEPZ +8.5%
Yield (12M)
AUGP No data
SEPZ 2.03%
Holdings
AUGP 4
SEPZ 6
Avg volume (30D)
AUGP 7.35K sh
SEPZ 14K sh, better
NAV per share
AUGP $34.23
SEPZ $46.43
52W range

ETF.net Grade

AUGP: Cost 91, Risk 72, Mission not scored, Tradability 24, Holdings not scored, Durability 38. SEPZ: Cost 40, Risk 24, Mission not scored, Tradability 46, Holdings not scored, Durability 49.
Pillar letters and Scores for AUGP, SEPZ, with each pillar’s weight
PillarAUGPSEPZ
Cost30% weightA91HigherC40
Mission25% weightNot scoredNot scored
Risk15% weightA72HigherF24
Tradability15% weightF24C46Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD38C49Higher

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 SEPZ 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 SEPZ 65th 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 65DNOVZTrueShares Structured Outcome (November) ETFScore 38
  5. Rank 65DSEPZTrueShares Structured Outcome (September) ETFScore 38
  6. Rank 68DDGJAFT Vest U.S. Equity Buffer & Digital Return ETF - JanuaryScore 37

Our read on each fund

ETF.net Research

AUGPBPGIM S&P 500 Buffer 12 ETF - August

SEPZDTrueShares Structured Outcome (September) ETF

In short

AUGP No data

SEPZ The buffered fund that skips the cap. SEPZ aims to absorb the first 8% to 12% of S&P 500 price losses over a 12-month period starting each September, and leaves the upside open instead of selling it off for a ceiling.

Stated mandate

AUGP No data

SEPZ The fund seeks returns that track the S&P 500 Price Return Index while providing protection against the first 8% to 12% of losses over a twelve-month period.

Why people hold it

AUGP No data

  • SEPZ No upside ceiling. Most buffered funds trade away gains above a set cap; SEPZ keeps the upside open and pays for its cushion with less than full participation in a rally.true-shares.comtrue-shares.com 2
  • The contract is spelled out: buffer the first 8% to 12% of S&P 500 Price Index losses over a twelve-month outcome period, with the adviser targeting 10%, then reset each September.true-shares.com
  • An original. TrueShares launched the uncapped buffer format in 2020, and SEPZ has run its September-to-September series since that first year.true-shares.com
  • The 0.79% expense ratio sits right at the median for shallow-buffer S&P 500 funds, so the uncapped design does not carry a premium price inside its group.

Worth knowing

AUGP No data

  • SEPZ Uncapped is not one-for-one. Option costs mean the fund captures only part of an S&P 500 price move, and the reference is the price index, so dividends sit outside the math.true-shares.com
  • The buffer is a target range, not a fixed figure, and it is measured over the full twelve months. Shares bought mid-period carry a different cushion and a different starting point.
  • Thinly traded, so limit orders matter. Costs also vary widely here: laddered buffer peer BUFB charges 0.10%, versus 0.79% for this one.

Full AUGP profile⁠

Full SEPZ profile⁠

AUGP vs SEPZ 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 SEPZ Cost

Overpaying SEPZ vs AUGP

$5,195

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

  • AUGP 0.50%

    $9,979

  • SEPZ 0.79%

    $15,174

$10,000
30 years

Cost over time

  • AUGP 0.50%
  • SEPZ 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$20K051015202530SEPZ $15,174AUGP $9,979

Year by year

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

AUGP 5th cheapest of 77 funds

SEPZ 34th cheapest of 77 funds

AUGP vs SEPZ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AUGP No data
SEPZ 2.03%
Payout (12M)
AUGP None
SEPZ $0.93
Last payment
AUGP No data
SEPZ $0.93
Ex-dividend
AUGP No data
SEPZ Dec 24, 2025
Paid on
AUGP No data
SEPZ Dec 26, 2025
Frequency
AUGP No data
SEPZ Annual

Distribution history

Per share, 2021 to 2026, same scale for both

AUGPAll AUGP payments⁠

No distribution history available.

SEPZAnnual · 5 paymentsAll SEPZ payments⁠
One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 29, 2021 $0.02; Dec 29, 2022 $0.20; Dec 27, 2023 $1.19; Dec 27, 2024 $1.38; Dec 24, 2025 $0.93. Use the arrow keys to read each point.$0$120232026YTD

AUGP vs SEPZ 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 2024SEPZ 9.5%
Return per unit of riskSharpe ratio, 3 years
AUGP 1.31since Jun 2024SEPZ 1.23
Worst fallMax drawdown, 5 years
AUGP −11.1%since May 2024SEPZ −15.2%
Market sensitivityBeta, 5 years
AUGP 0.53SEPZ 0.70

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