AUGZ vs. BUFP

Last updated Jun 23, 2026

AUGZ (TrueShares Structured Outcome (August) ETF) and BUFP (PGIM Laddered S&P 500 Buffer 12 ETF) are both Defined Outcome funds - AUGZ tracks the S&P 500 Index while BUFP tracks the S&P 500. Both are passively managed. Over the past year, AUGZ returned 19.59% vs 17.31% for BUFP. Their correlation of 0.90 suggests significant overlap in exposure. AUGZ charges 0.79%/yr vs 0.50%/yr for BUFP.

Performance

AUGZ vs. BUFP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (August) ETF (AUGZ) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUGZ achieves a 7.08% return, which is significantly higher than BUFP's 6.33% return.

AUGZ

• 1D: -0.39%
• 1M: 0.08%
• YTD: 7.08%
• 6M: 6.74%
• 1Y: 19.59%
• 3Y*: 15.58%
• 5Y*: 10.53%
• 10Y*: —

BUFP

• 1D: 0.28%
• 1M: 0.57%
• YTD: 6.33%
• 6M: 6.42%
• 1Y: 17.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AUGZ vs. BUFP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AUGZ TrueShares Structured Outcome (August) ETF	7.08%	13.49%	6.34%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	6.33%	12.92%	6.30%

Correlation

The correlation between AUGZ and BUFP is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024	0.90

The correlation between AUGZ and BUFP has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

AUGZ vs. BUFP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AUGZ

AUGZ Risk / Return Rank: 60
AUGZ Sharpe Ratio Rank: 61
AUGZ Sortino Ratio Rank: 59
AUGZ Omega Ratio Rank: 60
AUGZ Calmar Ratio Rank: 57
AUGZ Martin Ratio Rank: 64

BUFP

BUFP Risk / Return Rank: 88
BUFP Sharpe Ratio Rank: 87
BUFP Sortino Ratio Rank: 90
BUFP Omega Ratio Rank: 91
BUFP Calmar Ratio Rank: 79
BUFP Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AUGZ vs. BUFP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (August) ETF (AUGZ) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AUGZ	BUFP	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.72	-0.76
Sortino ratio: Return per unit of downside risk	2.69	4.02	-1.33
Omega ratio: Gain probability vs. loss probability	1.35	1.57	-0.21
Calmar ratio: Return relative to maximum drawdown	2.72	3.94	-1.22
Martin ratio: Return relative to average drawdown	11.29	21.61	-10.32

AUGZ vs. BUFP - Sharpe Ratio Comparison

The current AUGZ Sharpe Ratio is 1.97, which is comparable to the BUFP Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of AUGZ and BUFP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AUGZ vs. BUFP - Drawdown Comparison

The maximum AUGZ drawdown since its inception was -15.67%, which is greater than BUFP's maximum drawdown of -11.98%. Use the drawdown chart below to compare losses from any high point for AUGZ and BUFP.

Drawdown Indicators

	AUGZ	BUFP	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-11.98%	-3.69%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-4.41%	-2.82%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.67%	—	—
Current Drawdown Current decline from peak	-1.64%	-0.19%	-1.45%
Average Drawdown Average peak-to-trough decline	-3.10%	-0.99%	-2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	0.80%	+0.94%

Volatility

AUGZ vs. BUFP - Volatility Comparison

TrueShares Structured Outcome (August) ETF (AUGZ) has a higher volatility of 3.84% compared to PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) at 1.99%. This indicates that AUGZ's price experiences larger fluctuations and is considered to be riskier than BUFP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUGZ	BUFP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	1.99%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	7.95%	5.11%	+2.84%
Volatility (1Y) Calculated over the trailing 1-year period	10.02%	6.40%	+3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.05%	9.46%	+2.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.14%	9.46%	+2.68%

AUGZ vs. BUFP - Expense Ratio Comparison

AUGZ has a 0.79% expense ratio, which is higher than BUFP's 0.50% expense ratio.

Dividends

AUGZ vs. BUFP - Dividend Comparison

AUGZ's dividend yield for the trailing twelve months is around 3.39%, more than BUFP's 0.01% yield.

Position	TTM	2025	2024	2023	2022
AUGZ TrueShares Structured Outcome (August) ETF	3.39%	3.63%	4.08%	3.42%	0.41%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AUGZ and BUFP in my portfolio?

With a correlation of 0.92, AUGZ and BUFP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AUGZ or BUFP?

AUGZ has higher volatility (3.84%) compared to BUFP (1.99%). In terms of maximum drawdown, AUGZ dropped -15.67% vs BUFP's -11.98%.

Which ETF is better, AUGZ or BUFP?

On 1-year performance, AUGZ leads with 19.59% vs 17.31% for BUFP. On fees, BUFP is cheaper at 0.50% per year. On volatility, BUFP has been the lower-risk option at 1.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUGZ or BUFP?

Over the 1-year period, AUGZ has performed better with a 19.59% return vs 17.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUGZ or BUFP?

BUFP is cheaper with a 0.50% expense ratio, compared with 0.79% for AUGZ.

Which ETF pays a higher dividend yield, AUGZ or BUFP?

AUGZ has the higher dividend yield at 3.39%, compared with 0.01% for BUFP.

What is the main difference between AUGZ and BUFP?

AUGZ tracks S&P 500 Index, while BUFP tracks S&P 500. They also come from different issuers: TrueShares and PGIM. Their fees differ too: 0.79% for AUGZ and 0.50% for BUFP.

Which has better risk-adjusted returns?

BUFP currently has the higher Sharpe Ratio (2.72 vs 1.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.