CPRY vs KJAN: which one stands where?
As of Oct 1, 2026 KJAN can fall 9.7% before its buffer engages and CPRY 4.8%. Calamos Russell 2000 ® Structured Alt Protection ETF - January and Innovator U.S. Small Cap Power Buffer ETF - Jan.
CPRY: reference +11.7% since period start, fund +4.6%; buffer −1 to floor; cap +7.0%; At its cap.
KJAN: reference +12.9% since period start, fund +10.0%; buffer 0 to −15; cap +17.3%; Between buffer and cap.
These are two different products. CPRY is a floor fund, which caps how far a holder can fall. KJAN is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
CPRY is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
CPRY resets first, on Jan 1, 2027, 92 days from now; KJAN runs to Dec 31, 2026, 92 days. A fall from here reaches CPRY’s buffer after 4.8% and KJAN’s after 9.7%. 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 return | Gap to the reference | |||
|---|---|---|---|---|
| Window | CPRY | KJAN | CPRY | KJAN |
| 3 months | +0.9% | −0.2% | +7.9 pts | +6.8 pts |
| 6 months | +3.9% | +8.8% | −8.0 pts | −3.1 pts |
| 1 year | +8.3% | +12.9% | −7.7 pts | −3.2 pts |
| 3 years | not published | +48.3% | not published | −14.3 pts |
CPRY and KJAN over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
CPRY and KJAN on the same fields, as of Oct 1, 2026. Source: ETFIQ.
CPRY in plain words
IWM had already risen past this fund's cap of +7.0% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's price can fall 4.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, IWM can fall 10.9% 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 IWM level. 92 days remained on Oct 1, 2026. On Jan 1, 2027 the period ends and a new cap is set.
KJAN in plain words
From its price on Oct 1, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 9.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, IWM can fall 11.4% 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 IWM level. 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, CPRY against KJAN, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpry-vs-kjan
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, CPRY against KJAN, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpry-vs-kjan Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, CPRY against KJAN, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpry-vs-kjan
- APA
- ETFIQ. (Oct 1, 2026). CPRY against KJAN. Retrieved from https://etfiq.com/compare/buffer/cpry-vs-kjan
- Markdown
- [CPRY against KJAN (ETFIQ, Oct 1, 2026)](https://etfiq.com/compare/buffer/cpry-vs-kjan)