Data as of Nov 4, 2026.

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Buffer ETFs

AUGT vs CPSA: Cap, Buffer & Days Left

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As of Nov 4, 2026 AUGT can fall 3.1% before its buffer engages and CPSA 1.3%, and CPSA resets 1 day sooner.

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Net assets: $35m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Aug, and $50m on Nov 4, 2026 for Calamos S&P 500 Structured Alt Protection ETF - August.

At a glance
AUGT Between buffer and cap
Between buffer and capAUGT: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.10 pts+14.5% more to the cap−10.0% floor0% period start+17.1% cap+2.6% gain capturedTODAY · SPY +2.6%Between buffer and capAUGT: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.−10.0% floor0% start+17.1% cap10 pts of buffer+2.6% gain captured+14.5% more to the capTODAY · SPY +2.6%

AUGT: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.

AUGT: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.
CPSA Full floor
Full floorCPSA: reference +1.2% since period start, fund +1.2%; buffer Floor; cap +7.8%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% period start+7.8% cap+1.2% gain captured+6.6% more to the capTODAY · SPY +1.2%Full floorCPSA: reference +1.2% since period start, fund +1.2%; buffer Floor; cap +7.8%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% start+7.8% cap+1.2% gain captured+6.6% more to the capTODAY · SPY +1.2%

CPSA: reference +1.2% since period start, fund +1.2%; buffer Floor; cap +7.8%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

CPSA costs 0.05 points a year less; their one-year returns differ by 6.7 points; CPSA is 1.4 times larger.

Points (pts) are percentage points.

AUGT vs CPSA: Cap, Buffer & Days Left
MeasureAUGTCPSA
Return
Total return, 1 year+12.5%+5.8%
Drawdown
Index fall to the buffer2.6%1.2%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.74%0.69%
Net assets, as of Nov 3, 2026$35m$49m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: AUGT vs CPSA: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowAUGTCPSAAUGTCPSA
3 months+0.5%+0.6%+0.9 pts+1.0 pts
6 months+5.6%+2.6%+1.1 pts−1.9 pts
1 year+12.5%+5.8%−1.0 pts−7.8 pts
3 years+62.8%–−13.6 pts–
Since launchNot the same days: AUGT Aug 2023 · CPSA Aug 2024+57.8%+16.6%−10.2 pts−24.6 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

AUGT AllianzIM U.S. Equity Buffer10 ETF - Aug · Absorbs the first 10% of loss on SPY and caps the gain at 17.1%, over a period ending Jul 31, 2027 CPSA Calamos S&P 500 Structured Alt Protection ETF - August · Absorbs the whole loss on SPY and caps the gain at 7.8%, over a period ending Jul 30, 2027
Reference index SPY SPY
Buffer 10% 100%
Outcome period Aug 1, 2026 to Jul 31, 2027 Aug 3, 2026 to Jul 30, 2027
Days left 269 268
Starting cap +17.1% +7.8%
Can still gain 13.6% not published
Fall before buffer 3.1% 1.3%
Protection left, index points 10.0% of 10.0% 100.0% of 100.0%
Index return this period +2.6% +1.2%
Fund return this period +2.4% +1.2%
State today Open Open
Expense ratio 0.74% 0.69%
Net assets, AUGT as of Nov 3, 2026 and CPSA as of Nov 4, 2026 $35m $50m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. CPSA is a floor fund, which caps how far a holder can fall. AUGT is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Where each one stands today

CPSA resets first, on Jul 30, 2027, 268 days from now; AUGT runs to Jul 31, 2027, 269 days. A fall from here reaches AUGT’s buffer after 3.1% and CPSA’s after 1.3%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
AUGT

From its price on Nov 4, 2026, the fund can gain about 13.6% more before it reaches its cap. The fund's price can fall 3.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 269 days remained on Nov 4, 2026. On Jul 31, 2027 the period ends and a new cap is set.

CPSA

The fund's price can fall 1.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.2% 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. 268 days remained on Nov 4, 2026. On Jul 30, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, AUGT or CPSA?
AUGT ends its outcome period on Jul 31, 2027 and CPSA on Jul 30, 2027. A new cap is set the day after each.
Which is cheaper, AUGT or CPSA?
AUGT charges 0.74% a year and CPSA charges 0.69%, so CPSA is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, AUGT against CPSA, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/augt-vs-cpsa

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