Data as of Nov 4, 2026.
BNOV vs CPSN: Cap, Buffer & Days Left
As of Nov 4, 2026 BNOV can fall 1.1% before its buffer engages and CPSN 0.3%, and CPSN resets 2 days sooner.
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Net assets on Nov 4, 2026: $198m for Innovator U.S. Equity Buffer ETF - Nov and $36m for Calamos S&P 500 Structured Alt Protection ETF - November.
BNOV: reference +1.4% since period start, fund +1.1%; buffer 0 to −9; cap +20.3%; Between buffer and cap. Data to Nov 4, 2026.
BNOV: reference +1.4% since period start, fund +1.1%; buffer 0 to −9; cap +20.3%; Between buffer and cap. Data to Nov 4, 2026.CPSN: reference +2.0% since period start, fund +0.3%; buffer Floor; cap +8.2%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
CPSN costs 0.10 points a year less; their one-year returns differ by 5.6 points; BNOV is 5.5 times larger.
Points (pts) are percentage points.
| Measure | BNOV | CPSN |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.0% | +6.4% |
| Drawdown | ||
| Index fall to the buffer | 1.4% | 1.9% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.69% |
| Net assets | $198m | $36m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BNOV | CPSN | BNOV | CPSN |
| 3 months | +0.2% | +1.8% | +0.6 pts | +2.2 pts |
| 6 months | +4.5% | +3.5% | 0.0 pts | −1.0 pts |
| 1 year | +12.0% | +6.4% | −1.6 pts | −7.1 pts |
| 3 years | +49.2% | – | −27.2 pts | – |
| Since launchNot the same days: BNOV Nov 2019 · CPSN Nov 2024 | +91.2% | +13.4% | −59.3 pts | −20.8 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. CPSN is a floor fund, which caps how far a holder can fall. BNOV 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
CPSN resets first, on Oct 29, 2027, 359 days from now; BNOV runs to Oct 31, 2027, 361 days. A fall from here reaches BNOV’s buffer after 1.1% and CPSN’s after 0.3%. Both track SPY, so what separates them is where each is in its own period.
BNOV
From its price on Nov 4, 2026, the fund can gain about 18.9% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and a new cap is set.
CPSN
The fund's price can fall 0.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.9% 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. 359 days remained on Nov 4, 2026. On Oct 29, 2027 the period ends and a new cap is set.
Questions people ask
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, BNOV against CPSN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bnov-vs-cpsn
ETFIQ. (Nov 4, 2026). BNOV against CPSN. Retrieved from https://etfiq.com/compare/buffer/bnov-vs-cpsn
[BNOV against CPSN (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bnov-vs-cpsn)
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