CMAY vs CPSP: which one stands where?
As of Oct 1, 2026 CMAY can fall 5.8% before its buffer engages and CPSP 3.5%, and CPSP resets 30 days sooner. Corgi U.S. Equities 15% Structured Buffer ETF - May Series and Calamos S&P 500 ® Structured Alt Protection ETF - April.
CMAY: reference +6.1% since period start, fund +4.3%; buffer 0 to −15; cap +11.0%; Between buffer and 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. CMAY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
CPSP is already at its cap, so more rise in the index adds nothing to it before the period ends.
They do not reset together. CPSP has 182 days of its period left and CMAY has 212, so the two are not the same bet on the same months.
Where each one stands today
CPSP resets first, on Apr 1, 2027, 182 days from now; CMAY runs to Apr 30, 2027, 212 days. A fall from here reaches CMAY’s buffer after 5.8% 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 | CMAY | CPSP | CMAY | CPSP |
| 3 months | +1.4% | +1.3% | −1.2 pts | −1.2 pts |
| 6 months | not published | +3.0% | not published | −13.9 pts |
| 1 year | not published | +5.9% | not published | −9.8 pts |
CMAY 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
CMAY and CPSP on the same fields, as of Oct 1, 2026. Source: ETFIQ.
CMAY in plain words
The fund's price can fall 5.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.8% 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. 212 days remained on Oct 1, 2026. On Apr 30, 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, CMAY against CPSP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cmay-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, CMAY against CPSP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cmay-vs-cpsp Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, CMAY against CPSP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cmay-vs-cpsp
- APA
- ETFIQ. (Oct 1, 2026). CMAY against CPSP. Retrieved from https://etfiq.com/compare/buffer/cmay-vs-cpsp
- Markdown
- [CMAY against CPSP (ETFIQ, Oct 1, 2026)](https://etfiq.com/compare/buffer/cmay-vs-cpsp)