CPNQ vs QBUF: which one stands where?
As of Oct 1, 2026 CPNQ can fall 5.6% before its buffer engages and QBUF 0.0%, and CPNQ resets 31 days sooner. Calamos Nasdaq-100 ® Structured Alt Protection ETF - December and Innovator Nasdaq-100® 10 Buffer ETF™ - Quarterly.
CPNQ: reference +19.9% since period start, fund +5.4%; buffer −0 to floor; cap +6.6%; At its cap.
QBUF: reference 0.0% since period start, fund 0.0%; buffer 0 to −10; cap +4.7%; Between buffer and cap.
These are two different products. CPNQ is a floor fund, which caps how far a holder can fall. QBUF is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
CPNQ is already at its cap, so more rise in the index adds nothing to it before the period ends.
They do not reset together. CPNQ has 61 days of its period left and QBUF has 92, so the two are not the same bet on the same months.
Where each one stands today
CPNQ resets first, on Dec 1, 2026, 61 days from now; QBUF runs to Dec 31, 2026, 92 days. A fall from here reaches CPNQ’s buffer after 5.6% and QBUF’s after 0.0%. 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 | CPNQ | QBUF | CPNQ | QBUF |
| 3 months | +1.8% | +0.8% | −0.3 pts | −1.3 pts |
| 6 months | +5.4% | +5.1% | −21.5 pts | −21.8 pts |
| 1 year | +6.7% | +7.5% | −17.1 pts | −16.3 pts |
CPNQ and QBUF over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
CPNQ and QBUF on the same fields, as of Oct 1, 2026. Source: ETFIQ.
CPNQ in plain words
QQQ had already risen past this fund's cap of +6.6% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's price can fall 5.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 17.0% from today's level to the point where the buffer begins. Protection left, in index points: 99.5% of the 99.5% buffer still sits below today's QQQ level. 61 days remained on Oct 1, 2026. On Dec 1, 2026 the period ends and a new cap is set.
QBUF in plain words
From its price on Oct 1, 2026, the fund can gain about 4.7% more before it reaches its cap. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's QQQ level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 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, CPNQ against QBUF, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpnq-vs-qbuf
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, CPNQ against QBUF, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpnq-vs-qbuf Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, CPNQ against QBUF, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpnq-vs-qbuf
- APA
- ETFIQ. (Oct 1, 2026). CPNQ against QBUF. Retrieved from https://etfiq.com/compare/buffer/cpnq-vs-qbuf
- Markdown
- [CPNQ against QBUF (ETFIQ, Oct 1, 2026)](https://etfiq.com/compare/buffer/cpnq-vs-qbuf)