Which resets first, AUGU or CPSJ?

AUGU ends its outcome period on Jul 31, 2027 and CPSJ on Jul 1, 2027. A new cap is set the day after each.

Which is cheaper, AUGU or CPSJ?

AUGU charges 0.74% a year and CPSJ charges 0.69%, so CPSJ is cheaper. Fees come from each fund's prospectus.

AUGU vs CPSJ: which one stands where?

As of Oct 1, 2026 AUGU can fall 2.1% before its buffer engages and CPSJ 1.1%, and CPSJ resets 30 days sooner. AllianzIM U.S. Equity Buffer15 Uncapped ETF - Aug and Calamos S&P 500 ® Structured Alt Protection ETF - July.

AUGUNo cap

AUGU: reference +2.1% since period start, fund +1.4%; buffer 0 to −15; no cap; No cap.

CPSJFull floor

CPSJ: reference +2.3% since period start, fund +1.0%; buffer −0 to floor; cap +7.6%; Full floor.

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

They do not reset together. CPSJ has 273 days of its period left and AUGU has 303, so the two are not the same bet on the same months.

Where each one stands today

CPSJ resets first, on Jul 1, 2027, 273 days from now; AUGU runs to Jul 31, 2027, 303 days. A fall from here reaches AUGU’s buffer after 2.1% and CPSJ’s after 1.1%. 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	AUGU	CPSJ	AUGU	CPSJ
3 months	+1.4%	+1.0%	−1.1 pts	−1.5 pts
6 months	+12.7%	+3.7%	−4.3 pts	−13.3 pts
1 year	+10.7%	+5.2%	−5.0 pts	−10.5 pts

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

On the same fields

AUGU

AllianzIM U.S. Equity Buffer15 Uncapped ETF - Aug · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Jul 31, 2027

CPSJ

Calamos S&P 500 ® Structured Alt Protection ETF - July · Absorbs losses from 0.1% to 100.0% on SPY and caps the gain at 7.6%, over a period ending Jul 1, 2027

Issuer AllianzIM Calamos

Reference index SPY SPY

Buffer 15% 0% to 100%

Outcome period Aug 1, 2026 to Jul 31, 2027 Jul 1, 2026 to Jul 1, 2027

Days left 303 273

Starting cap uncapped +7.6%

Can still gain uncapped not published

Fall before buffer 2.1% 1.1%

Protection left, index points 15.0% of 15.0% 99.9% of 99.9%

Index return this period +2.1% +2.3%

Fund return this period +1.4% +1.0%

State today Uncapped Open

Expense ratio 0.74% 0.69%

Net assets $41m $50m

AUGU and CPSJ on the same fields, as of Oct 1, 2026. Source: ETFIQ.

AUGU in plain words

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 2.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.0% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 303 days remained on Oct 1, 2026. On Jul 31, 2027 the period ends and a new cap is set.

CPSJ in plain words

The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.3% from today's level to the point where the buffer begins. Protection left, in index points: 99.9% of the 99.9% buffer still sits below today's SPY level. 273 days remained on Oct 1, 2026. On Jul 1, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, AUGU or CPSJ?: AUGU ends its outcome period on Jul 31, 2027 and CPSJ on Jul 1, 2027. A new cap is set the day after each.
Which is cheaper, AUGU or CPSJ?: AUGU charges 0.74% a year and CPSJ charges 0.69%, so CPSJ is cheaper. Fees come from each fund's prospectus.

Other comparisons

AUGU vs UAUG AUGU vs XJUL AUGU vs ZAUG AUGU vs AUGW CPSJ vs HJLY CPSJ vs JULC CPSJ vs JULP CPSJ vs JULT

SPDR® S&P 500® ETF Trust →AUGU on its own →CPSJ on its own →How every figure is computed →Standards and sources →

Where these figures came from

AUGU filings on SEC EDGAR ↗AllianzIM page for AUGU ↗CPSJ 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, AUGU against CPSJ, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/augu-vs-cpsj

Open data

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