GAUG vs. ^SP600
GAUG (FT Cboe Vest U.S. Equity Moderate Buffer ETF - August) is Options Trading fund tracking the S&P 500, while ^SP600 (S&P 600) is an index. Over the past year, GAUG returned 11.85% vs 33.67% for ^SP600. Their 0.69 correlation means they have sometimes moved together and sometimes differently.
Performance
GAUG vs. ^SP600 - Performance Comparison
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Returns By Period
In the year-to-date period, GAUG achieves a 6.41% return, which is significantly lower than ^SP600's 20.49% return.
GAUG
- 1D
- 0.25%
- 1M
- 0.88%
- 6M
- 5.60%
- YTD
- 6.41%
- 1Y
- 11.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.17%
^SP600
- 1D
- -0.09%
- 1M
- -0.75%
- 6M
- 14.16%
- YTD
- 20.49%
- 1Y
- 33.67%
- 3Y*
- 11.49%
- 5Y*
- 5.69%
- 10Y*
- 9.21%
- ALL TIME*
- 9.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^SP600 S&P 600 | $181.92B | $87.47B | $30.78B |
| $437.85K | $408.31K | $567.67K |
GAUG vs. ^SP600 - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GAUG FT Cboe Vest U.S. Equity Moderate Buffer ETF - August | 6.41% | 11.28% | 11.78% | 5.94% |
^SP600 S&P 600 | 20.49% | 4.23% | 6.82% | 9.73% |
Correlation
The correlation between GAUG and ^SP600 is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023 | 0.69 |
The correlation between GAUG and ^SP600 has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.
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Return for Risk
GAUG vs. ^SP600 — Risk / Return Rank
GAUG
^SP600
GAUG vs. ^SP600 - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG) and S&P 600 (^SP600). 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.
| GAUG | ^SP600 | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.32 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 3.54 | -0.70 |
| Martin ratioReturn relative to average drawdown | 14.70 | 12.09 | +2.62 |
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Drawdowns
GAUG vs. ^SP600 - Drawdown Comparison
The maximum GAUG drawdown since its inception was -10.08%, smaller than the maximum ^SP600 drawdown of -59.17%. Use the drawdown chart below to compare losses from any high point for GAUG and ^SP600.
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Drawdown Indicators
| GAUG | ^SP600 | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.08% | -59.17% | +49.09% |
Max Drawdown (1Y)Largest decline over 1 year | -4.01% | -8.94% | +4.93% |
Max Drawdown (3Y)Largest decline over 3 years | — | -28.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.77% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.98% | +1.98% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -9.24% | +8.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 2.61% | -1.84% |
Volatility
GAUG vs. ^SP600 - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG) is 1.00%, while S&P 600 (^SP600) has a volatility of 3.43%. This indicates that GAUG experiences smaller price fluctuations and is considered to be less risky than ^SP600 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAUG | ^SP600 | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 3.43% | -2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 4.29% | 11.67% | -7.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.58% | 17.40% | -11.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.38% | 21.31% | -13.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.38% | 23.14% | -15.76% |
Frequently Asked Questions
GAUG and ^SP600 have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^SP600 has higher volatility (3.43%) compared to GAUG (1.00%). In terms of maximum drawdown, GAUG dropped -10.08% vs ^SP600's -59.17%.
GAUG currently has the higher Sharpe Ratio (2.03 vs 1.82), 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.
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