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CAUG vs PNOV

Corgi U.S. Equities 15% Structured Buffer ETF - August Series

CAUGCCboe

Innovator U.S. Equity Power Buffer ETF

PNOVCCboe

Overlap

Expense ratio

CAUG −0.49pt a year

CAUG0.30%PNOV0.79%

Avg volume · 30D

PNOV 148.7×the volume

CAUG410PNOV61K

CAUG vs PNOV Performance

Sep 30, 2026 – Oct 30, 2026

−0.4%CAUG0.0%PNOV

Sep 30, 2026 to Oct 30, 2026. CAUG −0.4%. PNOV 0.0%. Use the arrow keys to read each point.0.5%1%1.5%Sep 30Oct 15Oct 30
Expense ratio
CAUG 0.30%, better
PNOV 0.79%
Fund size
CAUG $1M
PNOV $818M
1Y total return
CAUG No data
PNOV +10.1%
Holdings
CAUG 4
PNOV 503
Avg volume (30D)
CAUG 410 sh
PNOV 61K sh, better
NAV per share
CAUG $25.21
PNOV $45.59
52W range

ETF.net Grade

CAUG: Cost 83, Risk 48, Mission not scored, Tradability 14, Holdings not scored, Durability 2. PNOV: Cost 35, Risk 47, Mission 84, Tradability 59, Holdings 91, Durability 82.
Pillar letters and Scores for CAUG, PNOV, with each pillar’s weight
PillarCAUGPNOV
Cost30% weightA83HigherD35
Mission25% weightNot scoredA84
Risk15% weightC48HigherC47
Tradability15% weightF14B59Higher
Holdings10% weightNot scoredA91
Durability5% weightF2A82Higher

Rank among S&P 500 Buffer 15% funds

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

Same Category. CAUG and PNOV are both graded against the same 51 S&P 500 Buffer 15% funds, so their Grades compare head to head.

S&P 500 Buffer 15%⁠

Category · 51 funds
See all 51 ›

PNOV ranks 8th and CAUG 33rd of 51 funds in the S&P 500 Buffer 15% Category.

  1. Rank 8CPAUGInnovator U.S. Equity Power Buffer ETF - AugustScore 52
  2. Rank 8CPNOVInnovator U.S. Equity Power Buffer ETFScore 52
  3. Rank 10CPJANInnovator U.S. Equity Power Buffer ETFScore 51
  4. Rank 30CGJANFT Vest U.S. Equity Moderate Buffer ETF - JanuaryScore 41
  5. Rank 33CCAUGCorgi U.S. Equities 15% Structured Buffer ETF - August SeriesScore 40
  6. Rank 33CCJULCorgi U.S. Equities 15% Structured Buffer ETF - July SeriesScore 40

Our read on each fund

ETF.net Research

CAUGCCorgi U.S. Equities 15% Structured Buffer ETF - August Series

PNOVCInnovator U.S. Equity Power Buffer ETF

In short

CAUG No data

PNOV A 15% cushion against SPY's first losses, reset every November 1, paid for with a ceiling on that year's upside. PNOV is the November door in Innovator's month-by-month buffer lineup.

Stated mandate

CAUG No data

PNOV The Fund seeks to track the return of the SPDR S&P 500 ETF Trust (SPY) up to a predetermined cap while protecting against the first 15% of losses during the outcome period.

Why people hold it

CAUG No data

  • PNOV The deal is spelled out before you buy: absorb the first 15% of SPY's losses over a Nov 1 to Oct 31 outcome period, with that year's cap set on day one.innovatoretfs.com
  • Costs 0.79% a year, dead center for its buffer-fund cohort, and it changes hands more easily than most funds in that group.
  • Running since 2019, with same-strategy siblings starting in other months (PJAN, PAPR, PJUL), so start dates can be staggered instead of pinned to one November.

Worth knowing

CAUG No data

  • PNOV The cap is what pays for the cushion. Above the ceiling set each November, SPY's extra upside goes to the options counterparty, not the fund.innovatoretfs.com
  • Buffer and cap are built for the full outcome period. Buy mid-period and you inherit whatever cushion and headroom remain, not the headline 15%.innovatoretfs.com
  • Picking your own reset month costs more: the laddered version of the same strategy (BUFF) charges 0.10% versus 0.79% here.

Full CAUG profile⁠

Full PNOV profile⁠

CAUG vs PNOV 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.

CAUG vs PNOV Cost

Overpaying PNOV vs CAUG

$9,025

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

  • CAUG 0.30%

    $6,149

  • PNOV 0.79%

    $15,174

$10,000
30 years

Cost over time

  • CAUG 0.30%
  • PNOV 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$20K051015202530PNOV $15,174CAUG $6,149

Year by year

YearCAUGPNOVOverpaying
10$545$1,405$860
20$2,113$5,331$3,218
30$6,149$15,174$9,025

Expense ratio

  • 0.30%CAUG, cheaper
  • 0.79%PNOV
  • Middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

CAUG cheapest of 51 funds

PNOV 24th cheapest of 51 funds

CAUG vs PNOV Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
CAUG None
PNOV None

Distribution history

CAUGAll CAUG payments⁠

No distribution history available.

PNOVAll PNOV payments⁠

No distribution history available.

CAUG vs PNOV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CAUG No dataPNOV 5.9%
Return per unit of riskSharpe ratio, 3 years
CAUG No dataPNOV 1.25
Worst fallMax drawdown, 5 years
CAUG No dataPNOV −10.6%
Market sensitivityBeta, 5 years
CAUG 0.00PNOV 0.50

CAUG and PNOV in the news

All news⁠

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