Which resets first, AOCT or CPST?

AOCT ends its outcome period on Sep 30, 2028 and CPST on Sep 1, 2027. A new cap is set the day after each.

Which is cheaper, AOCT or CPST?

AOCT charges 0.79% a year and CPST charges 0.69%, so CPST is cheaper. Fees come from each fund's prospectus.

AOCT vs CPST: which one stands where?

As of Oct 1, 2026 CPST can fall 0.1% before its buffer engages and AOCT 0.0%, and CPST resets 396 days sooner. Innovator Equity Defined Protection ETF - Oct 2028 and Calamos S&P 500 ® Structured Alt Protection ETF - September.

AOCTFull floor

AOCT: reference 0.0% since period start, fund 0.0%; buffer Floor; cap +21.3%; Full floor.

CPSTFull floor

CPST: reference +0.1% since period start, fund 0.0%; buffer −0 to floor; cap +8.0%; Full floor.

They do not reset together. CPST has 335 days of its period left and AOCT has 731, so the two are not the same bet on the same months.

Where each one stands today

CPST resets first, on Sep 1, 2027, 335 days from now; AOCT runs to Sep 30, 2028, 731 days. A fall from here reaches AOCT’s buffer after 0.0% and CPST’s after 0.1%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	AOCT	CPST	AOCT	CPST
3 months	+1.6%	+1.0%	−1.0 pts	−1.5 pts
6 months	+4.8%	+3.9%	−12.2 pts	−13.0 pts
1 year	+5.8%	+5.2%	−9.9 pts	−10.5 pts

AOCT and CPST over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AOCT

Innovator Equity Defined Protection ETF - Oct 2028 · Absorbs the whole loss on SPY and caps the gain at 21.3%, over a period ending Sep 30, 2028

CPST

Calamos S&P 500 ® Structured Alt Protection ETF - September · Absorbs losses from 0.0% to 100.0% on SPY and caps the gain at 8.0%, over a period ending Sep 1, 2027

Issuer Innovator Calamos

Reference index SPY SPY

Buffer 100% 0% to 100%

Outcome period Sep 30, 2026 to Sep 30, 2028 Sep 1, 2026 to Sep 1, 2027

Days left 731 335

Starting cap +21.3% +8.0%

Can still gain 21.3% not published

Fall before buffer 0.0% 0.1%

Protection left, index points 100.0% of 100.0% 100.0% of 100.0%

Index return this period 0.0% +0.1%

Fund return this period 0.0% 0.0%

State today Open Open

Expense ratio 0.79% 0.69%

Net assets $46m $37m

AOCT and CPST on the same fields, as of Oct 1, 2026. Source: ETFIQ.

AOCT in plain words

From its price on Oct 1, 2026, the fund can gain about 21.3% more before it reaches its cap. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 731 days remained on Oct 1, 2026. On Sep 30, 2028 the period ends and a new cap is set.

CPST in plain words

The fund's price can fall 0.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.1% from today's level to the point where the buffer begins. 335 days remained on Oct 1, 2026. On Sep 1, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, AOCT or CPST?: AOCT ends its outcome period on Sep 30, 2028 and CPST on Sep 1, 2027. A new cap is set the day after each.
Which is cheaper, AOCT or CPST?: AOCT charges 0.79% a year and CPST charges 0.69%, so CPST is cheaper. Fees come from each fund's prospectus.

Other comparisons

AOCT vs BOCT AOCT vs OCTU AOCT vs OCTW AOCT vs PBOC CPST vs APOC CPST vs AUGM CPST vs BSEP CPST vs DAUG

SPY →AOCT on its own →CPST on its own →How every figure is computed →Standards and sources →

Where these figures came from

Innovator page for AOCT ↗CPST filings on SEC EDGAR ↗Calamos website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, AOCT against CPST, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/aoct-vs-cpst

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.