AIOO vs CPSY: Cap, Buffer & Days Left
As of Oct 22, 2026 CPSY can fall 4.7% before its buffer engages and AIOO 0.2%. Net assets on Oct 22, 2026: $63m for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan and $29m for Calamos S&P 500 Structured Alt Protection ETF - January.
AIOO costs 0.05 points a year less; their one-year returns differ by 2.2 points; AIOO is 2.2 times larger.
Points (pts) are percentage points.
| AIOO | CPSY | |
|---|---|---|
| Expense ratio | 0.64% | 0.69% |
| Net assets | $63m | $29m |
| Total return, 1 year | +3.6% | +5.8% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 0.2% | 10.6% |
AIOO: reference +0.2% since period start, fund +0.2%; buffer Floor; no cap; No cap. Figures to Oct 22, 2026.
Figures to Oct 22, 2026.
CPSY: reference +11.8% since period start, fund +4.3%; buffer Floor; cap +6.4%; At its cap. Figures to Oct 22, 2026.
Figures to Oct 22, 2026.
AIOO has no cap. It takes 30% of whatever the index does, where CPSY takes all of the rise up to 6.4% and nothing above it.
CPSY is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
AIOO resets first, on Dec 31, 2026, 70 days from now; CPSY runs to Dec 31, 2026, 70 days. A fall from here reaches AIOO’s buffer after 0.2% and CPSY’s after 4.7%. Both track SPY, so what separates them is where each is in its own period.
Performance, window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | AIOO | CPSY | AIOO | CPSY |
| 3 months | +0.8% | +1.7% | −2.7 pts | −1.8 pts |
| 6 months | +2.1% | +3.0% | −5.7 pts | −4.9 pts |
| 1 year | +3.6% | +5.8% | −10.8 pts | −8.6 pts |
| Since launch Not the same days: AIOO Jul 2025 · CPSY Jan 2025 | +5.8% | +11.4% | −17.9 pts | −19.2 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →
On the same fields
As of Oct 22, 2026. Source: ETFIQ.
About AIOO
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 0.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.2% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 70 days remained on Oct 22, 2026. On Dec 31, 2026 the period ends and new terms are set.
About CPSY
SPY had already risen past this fund's cap of +6.4% for the period on Oct 22, 2026, so in index terms there is no more upside to collect. The fund's price can fall 4.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% from today's level to the point where the buffer begins. On Dec 31, 2026 the period ends and a new cap is set.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every figure from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every figure is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, AIOO against CPSY, data as of Oct 22, 2026. https://etfiq.com/compare/buffer/aioo-vs-cpsy
ETFIQ. (Oct 22, 2026). AIOO against CPSY. Retrieved from https://etfiq.com/compare/buffer/aioo-vs-cpsy
[AIOO against CPSY (ETFIQ, Oct 22, 2026)](https://etfiq.com/compare/buffer/aioo-vs-cpsy)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.