AUGZ vs BUFM: Grades, Fees and Holdings Compared

TrueShares Structured Outcome (August) ETF

AUGZDCboe

AB Moderate Buffer ETF

BUFMBNasdaq

Overlap

0.0%by weight

Expense ratio

BUFM −0.10pt a year

AUGZ0.79%BUFM0.69%

Avg volume · 30D

BUFM 10.0×the volume

AUGZ2.88KBUFM28.8K

AUGZ vs BUFM Performance

Nov 5, 2025 – Nov 5, 2026

+5.9%AUGZ+3.6%BUFM

Expense ratio: AUGZ 0.79%; BUFM 0.69%, better
Fund size: AUGZ $44M; BUFM $493M
1Y total return: AUGZ +5.9%, better; BUFM +3.6%
Yield (12M): AUGZ 3.44%; BUFM No data
Holdings: AUGZ 6; BUFM 5
Avg volume (30D): AUGZ 2.88K sh; BUFM 28.8K sh, better
NAV per share: AUGZ $46.10; BUFM $41.00
52W range

ETF.net Grade

Pillar letters and Scores for AUGZ, BUFM, with each pillar’s weight
Pillar	AUGZ	BUFM
Cost30% weight	C40	A82Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	D25	C48Higher
Tradability15% weight	D29	C53Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	C52Higher	C50

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

How we build Categories ›

Same Category. AUGZ and BUFM 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 ›

BUFM ranks 4th 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 4BTENDiShares Large Cap 10% Target Buffer Dec 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

AUGZDTrueShares Structured Outcome (August) ETF

BUFMBAB Moderate Buffer ETF

In short

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.

BUFM No data

Stated mandate

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.

BUFM No data

Why people hold it

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

BUFM No data

Worth knowing

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

BUFM No data

Full AUGZ profile⁠

Full BUFM profile⁠

AUGZ vs BUFM Holdings

How AUGZ and BUFM differ

Overlap by weight

0.0%

Level by level

Asset classStocks, Alternatives0.0%
Holdings0 in both0.0%
Sector11 Sectors97.1%
Countryby domicile99.5%

Sector

Sector weights in AUGZ and BUFM, widest gap first
Sector	Gap	AUGZ	BUFM
Technology	BUFM +2.2 points	37.9%	40.1%
Consumer Discretionary	AUGZ +0.9 points	9.6%	8.7%
Industrials	AUGZ +0.8 points	8.4%	7.6%
Energy	BUFM +0.4 points	3.0%	3.4%
Financials	AUGZ +0.4 points	11.7%	11.3%
Utilities	AUGZ +0.4 points	2.3%	1.9%
Health Care	BUFM +0.3 points	9.1%	9.4%
Consumer Staples	AUGZ +0.2 points	4.6%	4.4%
Real Estate	AUGZ +0.2 points	1.9%	1.7%
Materials	AUGZ +0.1 points	1.7%	1.6%
Communication	AUGZ +0.1 points	10.0%	9.9%

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

AUGZ102.1%
BUFM101.0%

Securities held

AUGZ3
BUFM3

Asset class

AUGZ: Stocks
BUFM: Alternatives

Holdings

Only in AUGZ3
In both0
Only in BUFM3

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%

Only in BUFM

3 securities, 100% of BUFM by weight

4SPY 12/31/26 C3.81 4SPY 12/31/26 C3.8199.14%
4SPY 12/31/26 P750.28 4SPY 12/31/26 P750.281.28%
Alliancebernstein Govt Stif Ssc Fund 64BA Agis 5870.55%

Weight gaps

AUGZ and BUFM share no securities.

All 7 AUGZ holdings⁠All BUFM 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.

AUGZ vs BUFM Cost

Overpaying AUGZ vs BUFM

$1,745

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

AUGZ 0.79%
$15,174
BUFM 0.69%
$13,429

Amount$10,000

Years30 years

Cost over time

AUGZ 0.79%
BUFM 0.69%
Overpaying

Year by year

Year	AUGZ	BUFM	Overpaying
10	$1,405	$1,232	$173
20	$5,331	$4,697	$634
30	$15,174	$13,429	$1,745

Expense ratio

0.79%AUGZ
0.69%BUFM, cheaper

BUFM0.69%AUGZ0.79%

0.25%0.85%

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

BUFM 14th cheapest of 77 funds

AUGZ 34th cheapest of 77 funds

AUGZ vs BUFM Dividends

Last 12 months to Nov 5, 2026

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

Distribution history

Per share, 2022 to 2026, same scale for both

AUGZAnnual · 4 paymentsAll AUGZ payments⁠

BUFMAll BUFM payments⁠

No distribution history available.

AUGZ vs BUFM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AUGZ 9.5%BUFM 5.4%since Jan 2025
Return per unit of riskSharpe ratio, 3 years: AUGZ 1.20BUFM 0.92since Jan 2025
Worst fallMax drawdown, 5 years: AUGZ −15.7%BUFM −9.4%since Dec 2024
Market sensitivityBeta, 5 years: AUGZ 0.73BUFM 0.40; Market = 1

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