APXM vs CPSP: which one stands where?
As of Oct 1, 2026 CPSP can fall 3.5% before its buffer engages and APXM 3.2%, and CPSP resets 16 days sooner. FT Vest U.S. Equity Max Buffer ETF - April and Calamos S&P 500 ® Structured Alt Protection ETF - April.
APXM: reference +7.4% since period start, fund +2.4%; buffer 0 to −50; cap +7.0%; At its cap.
CPSP: reference +16.4% since period start, fund +3.3%; buffer −0 to floor; cap +6.4%; At its cap.
These are two different products. CPSP is a floor fund, which caps how far a holder can fall. APXM is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are already at their cap, so neither gains from more rise in the index before the period ends.
Where each one stands today
CPSP resets first, on Apr 1, 2027, 182 days from now; APXM runs to Apr 16, 2027, 198 days. A fall from here reaches APXM’s buffer after 3.2% and CPSP’s after 3.5%. 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 | APXM | CPSP | APXM | CPSP |
| 3 months | +1.4% | +1.3% | −1.1 pts | −1.2 pts |
| 6 months | +2.6% | +3.0% | −14.4 pts | −13.9 pts |
| 1 year | +4.9% | +5.9% | −10.8 pts | −9.8 pts |
APXM and CPSP over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
APXM and CPSP on the same fields, as of Oct 1, 2026. Source: ETFIQ.
APXM in plain words
SPY had already risen past this fund's cap of +7.0% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.6% as the period runs out. The fund's price can fall 3.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 6.9% from today's level to the point where the buffer begins. Protection left, in index points: 50.1% of the 50.1% buffer still sits below today's SPY level. 198 days remained on Oct 1, 2026. On Apr 16, 2027 the period ends and a new cap is set.
CPSP in plain words
SPY had already risen past this fund's cap of +6.4% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's price can fall 3.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 14.3% from today's level to the point where the buffer begins. Protection left, in index points: 99.7% of the 99.7% buffer still sits below today's SPY level. 182 days remained on Oct 1, 2026. On Apr 1, 2027 the period ends and a new cap is set.
Questions people ask
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.
ETFIQ, APXM against CPSP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/apxm-vs-cpsp
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, APXM against CPSP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/apxm-vs-cpsp Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, APXM against CPSP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/apxm-vs-cpsp
- APA
- ETFIQ. (Oct 1, 2026). APXM against CPSP. Retrieved from https://etfiq.com/compare/buffer/apxm-vs-cpsp
- Markdown
- [APXM against CPSP (ETFIQ, Oct 1, 2026)](https://etfiq.com/compare/buffer/apxm-vs-cpsp)