CPNJ vs QMMY: which one stands where?
As of Oct 1, 2026 QMMY can fall 4.5% before its buffer engages and CPNJ 0.8%, and QMMY resets 7 days sooner. Calamos Nasdaq-100 ® Structured Alt Protection ETF - June and FT Vest Nasdaq-100® Moderate Buffer ETF - May.
CPNJ: reference −0.4% since period start, fund +0.7%; buffer −0 to floor; cap +7.8%; Buffer working.
QMMY: reference +4.4% since period start, fund +3.7%; buffer 0 to −15; cap +17.7%; Between buffer and cap.
These are two different products. CPNJ is a floor fund, which caps how far a holder can fall. QMMY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
CPNJ has fallen through its protection. The index is 0.2% below where the buffer stops, and that part of the loss is the holder’s.
Where each one stands today
QMMY resets first, on May 21, 2027, 233 days from now; CPNJ runs to May 29, 2027, 240 days. A fall from here reaches CPNJ’s buffer after 0.8% and QMMY’s after 4.5%. Both track QQQ, 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 | CPNJ | QMMY | CPNJ | QMMY |
| 3 months | +0.9% | +2.6% | −1.3 pts | +0.5 pts |
| 6 months | +2.6% | +8.1% | −24.3 pts | −18.8 pts |
| 1 year | +4.4% | +10.3% | −19.4 pts | −13.5 pts |
CPNJ and QMMY over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
CPNJ and QMMY on the same fields, as of Oct 1, 2026. Source: ETFIQ.
CPNJ in plain words
The fund's price can fall 0.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 99.6% of the 99.8% buffer still sits below today's QQQ level. 240 days remained on Oct 1, 2026. On May 29, 2027 the period ends and a new cap is set.
QMMY in plain words
From its price on Oct 1, 2026, the fund can gain about 12.6% more before it reaches its cap. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 4.2% 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 QQQ level. 233 days remained on Oct 1, 2026. On May 21, 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, CPNJ against QMMY, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpnj-vs-qmmy
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, CPNJ against QMMY, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpnj-vs-qmmy Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, CPNJ against QMMY, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpnj-vs-qmmy
- APA
- ETFIQ. (Oct 1, 2026). CPNJ against QMMY. Retrieved from https://etfiq.com/compare/buffer/cpnj-vs-qmmy
- Markdown
- [CPNJ against QMMY (ETFIQ, Oct 1, 2026)](https://etfiq.com/compare/buffer/cpnj-vs-qmmy)