CPNS vs QBQV: which one stands where?
As of Oct 1, 2026 CPNS can fall 0.7% before its buffer engages and QBQV 0.2%, and QBQV resets 243 days sooner. Calamos Nasdaq-100 ® Structured Alt Protection ETF - September and AllianzIM Growth-100 Buffer5 ETF - Jan.
CPNS: reference +4.5% since period start, fund +0.6%; buffer −0 to floor; cap +8.7%; Full floor.
QBQV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +7.6%; Between buffer and cap.
These are two different products. CPNS is a floor fund, which caps how far a holder can fall. QBQV is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
They do not reset together. QBQV has 92 days of its period left and CPNS has 335, so the two are not the same bet on the same months.
Where each one stands today
QBQV resets first, on Dec 31, 2026, 92 days from now; CPNS runs to Sep 1, 2027, 335 days. A fall from here reaches CPNS’s buffer after 0.7% and QBQV’s after 0.2%. 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 | CPNS | QBQV | CPNS | QBQV |
| 3 months | +1.6% | +1.4% | −0.6 pts | −0.7 pts |
| 6 months | +4.9% | +7.8% | −22.0 pts | −19.1 pts |
| 1 year | +6.0% | not published | −17.8 pts | not published |
CPNS and QBQV over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
CPNS and QBQV on the same fields, as of Oct 1, 2026. Source: ETFIQ.
CPNS in plain words
The fund's price can fall 0.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 4.4% 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. 335 days remained on Oct 1, 2026. On Sep 1, 2027 the period ends and a new cap is set.
QBQV in plain words
From its price on Oct 1, 2026, the fund can gain about 7.4% more before it reaches its cap. The fund's price can fall 0.2% 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: 5.0% of the 5.0% 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, CPNS against QBQV, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpns-vs-qbqv
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, CPNS against QBQV, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpns-vs-qbqv Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, CPNS against QBQV, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpns-vs-qbqv
- APA
- ETFIQ. (Oct 1, 2026). CPNS against QBQV. Retrieved from https://etfiq.com/compare/buffer/cpns-vs-qbqv
- Markdown
- [CPNS against QBQV (ETFIQ, Oct 1, 2026)](https://etfiq.com/compare/buffer/cpns-vs-qbqv)