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CAUG vs PSEP

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

CAUGCCboe

Innovator U.S. Equity Power Buffer ETF

PSEPBCboe

Overlap

0.0%by weight

Expense ratio

CAUG −0.49pt a year

CAUG0.30%PSEP0.79%

Avg volume · 30D

PSEP 381.3×the volume

CAUG410PSEP156K

CAUG vs PSEP Performance

Sep 30, 2026 – Oct 30, 2026

−0.4%CAUG−0.2%PSEP

Sep 30, 2026 to Oct 30, 2026. CAUG −0.4%. PSEP −0.2%. Use the arrow keys to read each point.0%0.25%0.5%0.75%1%1.25%Sep 30Oct 15Oct 30
Expense ratio
CAUG 0.30%, better
PSEP 0.79%
Fund size
CAUG $1M
PSEP $1.22B
1Y total return
CAUG No data
PSEP +8.2%
Holdings
CAUG 4
PSEP 503
Avg volume (30D)
CAUG 410 sh
PSEP 156K sh, better
NAV per share
CAUG $25.21
PSEP $46.67
52W range

ETF.net Grade

CAUG: Cost 83, Risk 48, Mission not scored, Tradability 14, Holdings not scored, Durability 2. PSEP: Cost 35, Risk 49, Mission 94, Tradability 66, Holdings 90, Durability 83.
Pillar letters and Scores for CAUG, PSEP, with each pillar’s weight
PillarCAUGPSEP
Cost30% weightA83HigherD35
Mission25% weightNot scoredA94
Risk15% weightC48C49Higher
Tradability15% weightF14B66Higher
Holdings10% weightNot scoredA90
Durability5% weightF2A83Higher

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 PSEP 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 ›

PSEP ranks 6th and CAUG 33rd of 51 funds in the S&P 500 Buffer 15% Category.

  1. Rank 4CPOCTInnovator U.S. Equity Power Buffer ETFScore 55
  2. Rank 6BPSEPInnovator U.S. Equity Power Buffer ETFScore 54
  3. Rank 6CQBSFAllianzIM U.S. Equity Buffer15 ETFScore 54
  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

PSEPBInnovator U.S. Equity Power Buffer ETF

In short

CAUG No data

PSEP The September slot in Innovator's defined-outcome lineup: it takes the first 15% of a year's losses on the largest S&P 500 ETF off your hands, and in exchange your upside stops at a cap reset every September 1. Live since 2019.

Stated mandate

CAUG No data

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

Why people hold it

CAUG No data

  • PSEP The contract is explicit: absorb the first 15% of the reference ETF's losses over a one-year outcome period, with a cap set in advance rather than at management's discretion.
  • At 0.79%, the fee sits right on the median for buffer funds, so the options plumbing costs about what the category charges.
  • Trading since 2019, it has rolled through multiple full outcome periods, and it grades in the upper half of a crowded buffer group.

Worth knowing

CAUG No data

  • PSEP The 15% cushion is paid for with a ceiling. Buy partway through an outcome period and your effective buffer and cap differ from the headline terms.
  • It trades lighter than the largest buffer ETFs, so quoted spreads can be wider, especially around the annual reset.
  • Same family, cheaper listed fees: BUFF ladders the strategy across start months at 0.10%, and siblings like PSMR and PSMD list 0.49%.

Full CAUG profile⁠

Full PSEP profile⁠

CAUG vs PSEP Holdings

How CAUG and PSEP differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CAUG and 0.0% of PSEP.

Level by level

  • Holdings0 in both0.0%
  • Sector11 Sectors98.0%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

Sector weights in CAUG and PSEP, widest gap first
SectorMore in CAUGMore in PSEP
CommunicationCAUG +1.1 points
TechnologyCAUG +0.6 points
EnergyPSEP +0.4 points
Health CarePSEP +0.3 points
Consumer StaplesPSEP +0.3 points
FinancialsPSEP +0.3 points
IndustrialsCAUG +0.2 points
Consumer DiscretionaryPSEP +0.3 points
MaterialsPSEP +0.2 points
UtilitiesPSEP +0.1 points
Real EstatePSEP +0.1 points

Country, concentration and asset class

Country by domicile

Country weights in CAUG and PSEP, widest gap first
CountryMore in CAUGMore in PSEP
United StatesSame weight
SwitzerlandSame weight
ChinaSame weight
MexicoSame weight
IrelandSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • CAUG102.8%
  • PSEP40.0%

Securities held

  • CAUG3
  • PSEP503

Asset class

CAUG
Equity
PSEP
Equity

Holdings

  • Only in CAUG3
  • In both0
  • Only in PSEP503

Only in CAUG

3 securities, 100% of CAUG by weight

  • Spy 07/30/2027 151.53 C80.17%
  • United States Treasury Note/Bond 2.75% 07/31/202716.73%
  • Spy 07/30/2027 757.67 P4.74%

Only in PSEP

503 securities, 100% of PSEP by weight

  • Apple Inc7.51%
  • NVIDIA Corp7.39%
  • Microsoft Corp5.79%

Weight gaps

CAUG and PSEP share no securities.

All CAUG holdings⁠All PSEP 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 PSEP Cost

Overpaying PSEP vs CAUG

$9,025

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

  • CAUG 0.30%

    $6,149

  • PSEP 0.79%

    $15,174

$10,000
30 years

Cost over time

  • CAUG 0.30%
  • PSEP 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$20K051015202530PSEP $15,174CAUG $6,149

Year by year

YearCAUGPSEPOverpaying
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%PSEP
  • Middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

CAUG cheapest of 51 funds

PSEP 24th cheapest of 51 funds

CAUG vs PSEP Dividends

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

Distribution history

CAUGAll CAUG payments⁠

No distribution history available.

PSEPAll PSEP payments⁠

No distribution history available.

CAUG vs PSEP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CAUG No dataPSEP 5.9%
Return per unit of riskSharpe ratio, 3 years
CAUG No dataPSEP 1.41
Worst fallMax drawdown, 5 years
CAUG No dataPSEP −9.9%
Market sensitivityBeta, 5 years
CAUG 0.00PSEP 0.49

CAUG and PSEP in the news

All news⁠

Popular comparisons

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