CPRY vs QBKV: Cap, Buffer & Days Left
As of Oct 21, 2026 CPRY can fall 5.1% before its buffer engages and QBKV 0.3%. Net assets on Oct 21, 2026: $35m for Calamos Russell 2000 Structured Alt Protection ETF - January and $7m for AllianzIM U.S. Small Cap Buffer5 ETF - Jan.
CPRY costs 0.05 points a year less; CPRY is 4.8 times larger.
Points (pts) are percentage points.
| CPRY | QBKV | |
|---|---|---|
| Expense ratio | 0.69% | 0.74% |
| Net assets | $35m | $7m |
| Total return, 1 year | +7.7% | not published |
| What it tracks | IWM | IWM |
| Holdings in common | not published | |
| Index fall to the buffer | 10.0% | 0.0% |
CPRY: reference +11.1% since period start, fund +4.8%; buffer Floor; cap +7.5%; At its cap. Figures to Oct 21, 2026.
Figures to Oct 21, 2026.
QBKV: reference −0.5% since period start, fund +0.1%; buffer 0 to −5; cap +7.8%; Buffer working. Figures to Oct 21, 2026.
QBKV: reference −0.5% since period start, fund +0.1%; buffer 0 to −5; cap +7.8%; Buffer working. Figures to Oct 21, 2026.
These are two different products. CPRY is a floor fund, which caps how far a holder can fall. QBKV 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 Dec 31, 2026, 71 days from now; QBKV runs to Dec 31, 2026, 71 days. A fall from here reaches CPRY’s buffer after 5.1% and QBKV’s after 0.3%. Both track IWM, 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 | CPRY | QBKV | CPRY | QBKV |
| 3 months | +1.0% | −1.8% | +6.8 pts | +4.1 pts |
| 6 months | +2.5% | +0.9% | +2.5 pts | +0.9 pts |
| 1 year | +7.7% | – | −4.2 pts | – |
| Since launch Not the same days: CPRY Jan 2025 · QBKV Apr 2026 | +13.9% | +6.6% | −11.1 pts | −4.2 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. – means no data for this window, usually because the fund is younger than it. Open this comparison in the app →
On the same fields
As of Oct 21, 2026. Source: ETFIQ.
About CPRY
IWM had already risen past this fund's cap of +7.5% for the period on Oct 21, 2026, so in index terms there is no more upside to collect. The fund's price can fall 5.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, IWM can fall 10.0% 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 IWM level. 71 days remained on Oct 21, 2026. On Dec 31, 2026 the period ends and a new cap is set.
About QBKV
From its price on Oct 21, 2026, the fund can gain about 7.4% more before it reaches its cap. The fund's price can fall 0.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, IWM can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 4.5% of the 5.0% buffer still sits below today's IWM 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.
Cite this pageCitation, APA and Markdown
ETFIQ, CPRY against QBKV, data as of Oct 21, 2026. https://etfiq.com/compare/buffer/cpry-vs-qbkv
ETFIQ. (Oct 21, 2026). CPRY against QBKV. Retrieved from https://etfiq.com/compare/buffer/cpry-vs-qbkv
[CPRY against QBKV (ETFIQ, Oct 21, 2026)](https://etfiq.com/compare/buffer/cpry-vs-qbkv)
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