Innovator U.S. Equity Power Buffer ETF - August (PAUG) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PAUG. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PAUG
PAUG charges 0.79% annually. There are 94 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | PAUG vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | PAUG vs APRB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | PAUG vs JULB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | PAUG vs OCTB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | PAUG vs FBUF |
Best Risk-Adjusted Alternatives to PAUG
PAUG has a PortfoliosLab risk / return rank of 89. There are 102 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | PAUG vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | PAUG vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | PAUG vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | PAUG vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | PAUG vs CPRA |
Top Performing PAUG Alternatives (YTD)
PAUG is at 6.31% YTD. There are 133 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | PAUG vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.84% | 2.87M | Jun 2025 | PAUG vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.73% | — | Jan 2025 | PAUG vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.09% | 214.27M | Mar 2020 | PAUG vs KAPR | |
| Innovator U.S. Equity Buffer ETF - April | 11.91% | 403.09M | Mar 2019 | PAUG vs BAPR |
Lowest Volatility Alternatives to PAUG
PAUG has 5.32% 1-year volatility. There are 108 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | PAUG vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.33% | — | Apr 2025 | PAUG vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | PAUG vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | PAUG vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | PAUG vs MMAX |
Lowest Drawdown Alternatives to PAUG
PAUG has a 1-year max drawdown of -3.96%. There are 113 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | PAUG vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | PAUG vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | PAUG vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | PAUG vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | PAUG vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, BUFF, SFLR and span 5 categories. AUM among these funds goes as high as $3B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Innovator Defined Wealth Shield ETF | Defined Outcome | 96 | 2.78% | 2.72B | Jun 2021 | PAUG vs BALT | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 89 | 6.26% | 923.55M | Oct 2016 | PAUG vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 50 | 4.20% | 2.11B | Nov 2022 | PAUG vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 42 | 11.39% | 200.31M | Jul 2018 | PAUG vs LOUP | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 12.47% | 22.69M | Apr 2021 | PAUG vs XTAP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 84 | 6.02% | 1.44B | Jan 2019 | PAUG vs PJAN | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 82 | 6.44% | 963.46M | Sep 2018 | PAUG vs POCT | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 87 | 5.43% | 1.25B | Aug 2018 | PAUG vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 40 | 1.93% | 524.31M | Jan 2024 | PAUG vs QFLR | |
| Innovator Growth Accelerated Plus ETF - April | Leveraged Equities | 97 | 13.57% | 20.37M | Apr 2021 | PAUG vs QTAP |
Often Compared With PAUG
Investors most often compare PAUG with BAUG, UAUG, SPY. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.
Compare PAUG with Any Fund or Stock
Compare PAUG with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PAUG with funds that move differently
Innovator U.S. Equity Power Buffer ETF - August alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PAUG.
Explore PAUG Diversifiers