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DAUG is an actively managed “target outcome” ETF that uses exchange-traded FLEX options on SPY to shape returns over a one-year window that starts in August. The design aims to deliver S&P 500 price exposure with a defined loss profile: you absorb the first ~5% of losses, then get a “deep buffer” for losses from roughly -5% to -30%, while upside is capped (currently ~12.70% before fees). The intended outcomes are most relevant if you hold for the full Target Outcome Period, and the cap/buffer reset each year based on market conditions.
You don’t own the S&P 500 stocks directly—you mainly own customized SPY option contracts plus cash-like collateral. Those options are built to limit a chunk of downside over a specific August-to-August period, but they also limit how much upside you can get.
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Provides downside buffer protection with capped upside over a defined outcome period.
Showing the largest holdings by weight in DAUG
| Logo | Ticker | ETF Weight | Market Value | |
|---|---|---|---|---|
4S | 4SPY 260821C00006420 2026-08-21 State Street® SPDR® S&P 500® ETF Trust C 6.42 | 2026-08-21 State Street® SPDR® S&P 500® ETF Trust C 6.42 | 97.97% | $348.1M |
4S | 4SPY 260821P00611270 2026-08-21 State Street® SPDR® S&P 500® ETF Trust P 611.27 | 2026-08-21 State Street® SPDR® S&P 500® ETF Trust P 611.27 | 1.50% | $5.3M |
$U | $USD US Dollar | US Dollar | 0.54% | $1.9M |
Breakdown of DAUG by sector weightings (%)
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Top countries by weight (%)
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