BAUG vs SPY
Innovator U.S. Equity Buffer ETF - August vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BAUG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $195M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +10.69% | +13.79% | |
| 1Y Return | +17.39% | +23.66% | |
| 3Y Return (annualized) | +17.52% | +21.40% | |
| 5Y Return (annualized) | +11.75% | +13.37% | |
| Volatility (annualized) | 11.6% | 15.3% | |
| Max Drawdown | -24.2% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 31, 2019 | Jan 22, 1993 |
BAUG vs SPY Performance
Innovator U.S. Equity Buffer ETF - August (BAUG) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BAUG returned +17.39% while SPY returned +23.66%. Year to date, BAUG is up 10.69% versus a gain of 13.79% for SPY.
Over three years, BAUG compounded at +17.52% per year against +21.40% for SPY; over five years the annualized figures are +11.75% and +13.37% respectively. Across the full 7-year window we track, BAUG has the edge at +12.02% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.6% for BAUG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -24.2% for BAUG and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BAUG charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, BAUG currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, BAUG or SPY?
BAUG has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, BAUG or SPY?
Over the past year BAUG returned +17.39% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), BAUG annualized +12.02% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, BAUG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.6% for BAUG. Worst drawdown: BAUG -24.2% vs SPY -56.5%.
Should I hold both BAUG and SPY?
BAUG and SPY have a monthly-return correlation of 0.98, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, BAUG or SPY?
BAUG yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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