Which resets first, APOC or CPST?

APOC ends its outcome period on Mar 31, 2027 and CPST on Sep 1, 2027. A new cap is set the day after each.

Which is cheaper, APOC or CPST?

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

APOC vs CPST: which one stands where?

As of Oct 1, 2026 CPST can fall 0.1% before its buffer engages and APOC 0.0%, and APOC resets 153 days sooner. Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct and Calamos S&P 500 ® Structured Alt Protection ETF - September.

APOCFull floor

APOC: reference 0.0% since period start, fund 0.0%; buffer Floor; cap +4.3%; 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. APOC has 182 days of its period left and CPST has 335, so the two are not the same bet on the same months.

Where each one stands today

APOC resets first, on Mar 31, 2027, 182 days from now; CPST runs to Sep 1, 2027, 335 days. A fall from here reaches APOC’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	APOC	CPST	APOC	CPST
3 months	+1.5%	+1.0%	−1.0 pts	−1.5 pts
6 months	+3.1%	+3.9%	−13.9 pts	−13.0 pts
1 year	+2.8%	+5.2%	−12.9 pts	−10.5 pts

APOC 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

APOC

Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct · Absorbs the whole loss on SPY and caps the gain at 4.3%, over a period ending Mar 31, 2027

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 Mar 31, 2027 Sep 1, 2026 to Sep 1, 2027

Days left 182 335

Starting cap +4.3% +8.0%

Can still gain 4.3% 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 $72m $37m

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

APOC in plain words

From its price on Oct 1, 2026, the fund can gain about 4.3% 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. 182 days remained on Oct 1, 2026. On Mar 31, 2027 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, APOC or CPST?: APOC ends its outcome period on Mar 31, 2027 and CPST on Sep 1, 2027. A new cap is set the day after each.
Which is cheaper, APOC or CPST?: APOC charges 0.79% a year and CPST charges 0.69%, so CPST is cheaper. Fees come from each fund's prospectus.

Other comparisons

APOC vs APRT APOC vs APRW APOC vs ARLU APOC vs BALT CPST vs AUGM CPST vs DDFO CPST vs DDTO CPST vs BSEP

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

Where these figures came from

APOC filings on SEC EDGAR ↗Innovator page for APOC ↗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, APOC against CPST, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/apoc-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.