Which resets first, CPSA or CPSJ?

CPSA ends its outcome period on Jul 31, 2027 and CPSJ on Jul 1, 2027. A new cap is set the day after each.

Which is cheaper, CPSA or CPSJ?

CPSA charges 0.69% a year and CPSJ charges 0.69%, so CPSA is cheaper. Fees come from each fund's prospectus.

CPSA vs CPSJ: which one stands where?

As of Oct 1, 2026 CPSJ can fall 1.1% before its buffer engages and CPSA 0.7%, and CPSJ resets 30 days sooner. Calamos S&P 500 ® Structured Alt Protection ETF - August and Calamos S&P 500 ® Structured Alt Protection ETF - July.

CPSAFull floor

CPSA: reference +0.7% since period start, fund +0.7%; buffer −0 to floor; cap +7.7%; Full floor.

CPSJFull floor

CPSJ: reference +2.3% since period start, fund +1.0%; buffer −0 to floor; cap +7.6%; Full floor.

They do not reset together. CPSJ has 273 days of its period left and CPSA has 303, so the two are not the same bet on the same months.

Both are Calamos funds, so the difference between them is the terms rather than the house.

Where each one stands today

CPSJ resets first, on Jul 1, 2027, 273 days from now; CPSA runs to Jul 31, 2027, 303 days. A fall from here reaches CPSA’s buffer after 0.7% and CPSJ’s after 1.1%. Both track SPY, 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	CPSA	CPSJ	CPSA	CPSJ
3 months	+1.2%	+1.0%	−1.3 pts	−1.5 pts
6 months	+4.2%	+3.7%	−12.8 pts	−13.3 pts
1 year	+5.5%	+5.2%	−10.2 pts	−10.5 pts

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

On the same fields

CPSA

Calamos S&P 500 ® Structured Alt Protection ETF - August · Absorbs losses from 0.1% to 100.0% on SPY and caps the gain at 7.7%, over a period ending Jul 31, 2027

CPSJ

Calamos S&P 500 ® Structured Alt Protection ETF - July · Absorbs losses from 0.1% to 100.0% on SPY and caps the gain at 7.6%, over a period ending Jul 1, 2027

Issuer Calamos Calamos

Reference index SPY SPY

Buffer 0% to 100% 0% to 100%

Outcome period Aug 3, 2026 to Jul 31, 2027 Jul 1, 2026 to Jul 1, 2027

Days left 303 273

Starting cap +7.7% +7.6%

Can still gain not published not published

Fall before buffer 0.7% 1.1%

Protection left, index points 99.9% of 99.9% 99.9% of 99.9%

Index return this period +0.7% +2.3%

Fund return this period +0.7% +1.0%

State today Open Open

Expense ratio 0.69% 0.69%

Net assets $49m $50m

CPSA and CPSJ on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CPSA 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, SPY can fall 0.7% from today's level to the point where the buffer begins. Protection left, in index points: 99.9% of the 99.9% buffer still sits below today's SPY level. 303 days remained on Oct 1, 2026. On Jul 31, 2027 the period ends and a new cap is set.

CPSJ in plain words

The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.3% from today's level to the point where the buffer begins. 273 days remained on Oct 1, 2026. On Jul 1, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPSA or CPSJ?: CPSA ends its outcome period on Jul 31, 2027 and CPSJ on Jul 1, 2027. A new cap is set the day after each.
Which is cheaper, CPSA or CPSJ?: CPSA charges 0.69% a year and CPSJ charges 0.69%, so CPSA is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSA vs DAUG CPSA vs DDFS CPSA vs DDTS CPSA vs DLAG CPSJ vs PJUL CPSJ vs UJUL CPSJ vs CTJL CPSJ vs DDFL

S&P 500 (SPY) →CPSA on its own →CPSJ on its own →How every figure is computed →Standards and sources →

Where these figures came from

CPSA and CPSJ filings on SEC EDGAR ↗Calamos website ↗

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, CPSA against CPSJ, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpsa-vs-cpsj

Open data

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