CPRA vs SCMY: which one stands where?

As of Oct 1, 2026 CPRA can fall 3.5% before its buffer engages and SCMY 0.0%, and CPRA resets 30 days sooner. Calamos Russell 2000 ® Structured Alt Protection ETF - April and Corgi U.S. Small-Cap 15% Structured Buffer ETF - May Series.

CPRAAt its cap
At its capCPRA: reference +11.3% since period start, fund +3.3%; buffer −0 to floor; cap +7.6%; At its cap.full floor beneath+7.6%full floor−0.3% buffer start0% period start+7.6% capTODAY · IWM +11.3%At its capCPRA: reference +11.3% since period start, fund +3.3%; buffer −0 to floor; cap +7.6%; At its cap.full floor beneathfull floor−0.3% buffer start0% start+7.6% capTODAY · IWM +11.3%

CPRA: reference +11.3% since period start, fund +3.3%; buffer −0 to floor; cap +7.6%; At its cap.

SCMYBuffer working
Buffer workingSCMY: reference −1.7% since period start, fund +0.1%; buffer 0 to −15; cap +18.0%; Buffer working.13.3 pts+18% to cap−15.0% floor0% period start+18.0% capTODAY · IWM −1.7%Buffer workingSCMY: reference −1.7% since period start, fund +0.1%; buffer 0 to −15; cap +18.0%; Buffer working.−15.0% floor0% start+18.0% capTODAY · IWM −1.7%

SCMY: reference −1.7% since period start, fund +0.1%; buffer 0 to −15; cap +18.0%; Buffer working.

These are two different products. CPRA is a floor fund, which caps how far a holder can fall. SCMY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

CPRA is already at its cap, so more rise in the index adds nothing to it before the period ends.

They do not reset together. CPRA has 182 days of its period left and SCMY has 212, so the two are not the same bet on the same months.

Where each one stands today

CPRA resets first, on Apr 1, 2027, 182 days from now; SCMY runs to Apr 30, 2027, 212 days. A fall from here reaches CPRA’s buffer after 3.5% and SCMY’s after 0.0%. Both track IWM, 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 returnGap to the reference
WindowCPRASCMYCPRASCMY
3 months+0.5%−3.6%+7.5 pts+3.4 pts
6 months+3.2%not published−8.7 ptsnot published
1 year+6.5%not published−9.5 ptsnot published

CPRA and SCMY over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CPRA
Calamos Russell 2000 ® Structured Alt Protection ETF - April · Absorbs losses from 0.3% to 100.0% on IWM and caps the gain at 7.6%, over a period ending Apr 1, 2027
SCMY
Corgi U.S. Small-Cap 15% Structured Buffer ETF - May Series · Absorbs the first 15% of loss on IWM and caps the gain at 18.0%, over a period ending Apr 30, 2027
Issuer Calamos Corgi
Reference index IWM IWM
Buffer 0% to 100% 15%
Outcome period Apr 1, 2026 to Apr 1, 2027 May 1, 2026 to Apr 30, 2027
Days left 182 212
Starting cap +7.6% +18.0%
Can still gain not published not published
Fall before buffer 3.5% 0.0%
Protection left, index points 99.7% of 99.7% 13.3% of 15.0%
Index return this period +11.3% −1.7%
Fund return this period +3.3% +0.1%
State today At cap Buffer working
Expense ratio 0.69% 0.30%
Net assets $13m $2m

CPRA and SCMY on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CPRA in plain words

IWM had already risen past this fund's cap of +7.6% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's price can fall 3.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, IWM can fall 10.5% 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 IWM level. 182 days remained on Oct 1, 2026. On Apr 1, 2027 the period ends and a new cap is set.

SCMY in plain words

Protection left, in index points: 13.3% of the 15.0% buffer still sits below today's IWM level. 212 days remained on Oct 1, 2026. On Apr 30, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPRA or SCMY?
CPRA ends its outcome period on Apr 1, 2027 and SCMY on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, CPRA or SCMY?
CPRA charges 0.69% a year and SCMY charges 0.30%, so SCMY is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from

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.

Cite this page

ETFIQ, CPRA against SCMY, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpra-vs-scmy

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.