CPNQ vs NDEC: Cap, Buffer & Days Left
As of Oct 9, 2026 NDEC can fall 12.1% before its buffer engages and CPNQ 5.8%. Net assets on Oct 9, 2026: $20m for Calamos Nasdaq-100 ® Structured Alt Protection ETF - December and $62m for Innovator Growth-100 Power Buffer ETF - Dec.
CPNQ costs 0.10 points a year less; their one-year returns differ by 8.2 points; NDEC is 3.0 times larger.
| CPNQ | NDEC | |
|---|---|---|
| Expense ratio | 0.69% | 0.79% |
| Net assets | $20m | $62m |
| Total return, 1 year | +6.6% | +14.8% |
| What it tracks | QQQ | QQQ |
| Holdings in common | not published | |
| Index fall to the buffer | 17.9% | 17.6% |
CPNQ: reference +21.7% since period start, fund +5.6%; buffer Floor; cap +7.1%; At its cap. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
NDEC: reference +21.3% since period start, fund +12.9%; buffer 0 to −15; cap +15.4%; At its cap. Figures to Oct 9, 2026.
NDEC: reference +21.3% since period start, fund +12.9%; buffer 0 to −15; cap +15.4%; At its cap. Figures to Oct 9, 2026.
These are two different products. CPNQ is a floor fund, which caps how far a holder can fall. NDEC is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are already at their cap, so neither gains from more rise in the index before the period ends.
Where each one stands today
CPNQ resets first, on Nov 30, 2026, 52 days from now; NDEC runs to Nov 30, 2026, 52 days. A fall from here reaches CPNQ’s buffer after 5.8% and NDEC’s after 12.1%. Both track QQQ, so what separates them is where each is in its own period.
Performance, window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CPNQ | NDEC | CPNQ | NDEC |
| 3 months | +1.9% | +3.7% | −1.6 pts | +0.2 pts |
| 6 months | +4.7% | +11.9% | −18.3 pts | −11.0 pts |
| 1 year | +6.6% | +14.8% | −16.4 pts | −8.3 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
CPNQ in plain words
QQQ had already risen past this fund's cap of +7.1% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's price can fall 5.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 17.9% 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 QQQ level. 52 days remained on Oct 9, 2026. On Nov 30, 2026 the period ends and a new cap is set.
NDEC in plain words
QQQ had already risen past this fund's cap of +15.4% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.6% as the period runs out. The fund's price can fall 12.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 17.6% 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.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every figure 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 figure is an ETFIQ calculation with distributions reinvested.
ETFIQ, CPNQ against NDEC, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cpnq-vs-ndec
ETFIQ. (Oct 9, 2026). CPNQ against NDEC. Retrieved from https://etfiq.com/compare/buffer/cpnq-vs-ndec
[CPNQ against NDEC (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/cpnq-vs-ndec)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.