Data as of .
CPSD vs DDTJ: which one stands where?
As of Sep 19, 2026 DDTJ can fall 8.3% before its buffer engages and CPSD 4.9%, and CPSD resets 31 days sooner.
These are two different products. CPSD is a floor fund, which caps how far a holder can fall. DDTJ 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. CPSD has 73 days of its period left and DDTJ has 104, so the two are not the same bet on the same months.
Where each one stands today
CPSD resets first, on Dec 1, 2026, 73 days from now; DDTJ runs to Dec 31, 2026, 104 days. A fall from here reaches CPSD’s buffer after 4.9% and DDTJ’s after 8.3%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| CPSD | DDTJ | CPSD | DDTJ | |
| 3 months | +1.5% | +2.3% | −0.7 pts | +0.1 pts |
| 6 months | +4.8% | +11.2% | −13.3 pts | −6.8 pts |
| 1 year | +6.4% | not published | −10.2 pts | not published |
| CPSD Calamos S&P 500 ® Structured Alt Protection ETF - December Absorbs losses from 0.5% to 100.0% on SPY and caps the gain at 6.1%, over a period ending Dec 1, 2026 | DDTJ Innovator Equity Dual Directional 10 Buffer ETF - Jan Absorbs the first 10% of loss on SPY and caps the gain at 12.8%, over a period ending Dec 31, 2026 | |
|---|---|---|
| Issuer | Calamos | Innovator |
| Reference index | SPY | SPY |
| Buffer | 1% to 100% | 10% |
| Outcome period | Dec 1, 2025 to Dec 1, 2026 | Dec 31, 2025 to Dec 31, 2026 |
| Days left | 73 | 104 |
| Starting cap | +6.1% | +12.8% |
| Can still gain | not published | 3.5% |
| Fall before buffer | 4.9% | 8.3% |
| Protection left, index points | 99.5% of 99.5% | 10.0% of 10.0% |
| Index return this period | +12.0% | +11.7% |
| Fund return this period | +4.5% | +8.4% |
| State today | At cap | Open |
| Expense ratio | 0.69% | 0.79% |
| Net assets | $46m | $18m |
CPSD in plain words
SPY had already risen past this fund's cap of +6.1% for the period on Sep 19, 2026, so in index terms there is no more upside to collect. The fund's price can fall 4.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.2% 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 SPY level. 73 days remained on Sep 19, 2026. On Dec 1, 2026 the period ends and a new cap is set.
DDTJ in plain words
From its price on Sep 19, 2026, the fund can gain about 3.5% more before it reaches its cap. The fund's price can fall 8.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.5% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 104 days remained on Sep 19, 2026. On Dec 31, 2026 the period ends and a new cap is set.
Questions people ask
- Which resets first, CPSD or DDTJ?
- CPSD ends its outcome period on Dec 1, 2026 and DDTJ on Dec 31, 2026. A new cap is set the day after each.
- Which is cheaper, CPSD or DDTJ?
- CPSD charges 0.69% a year and DDTJ charges 0.79%, so CPSD 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.
Cite this page. ETFIQ, CPSD against DDTJ, data as of Sep 19, 2026. https://etfiq.com/compare/buffer/cpsd-vs-ddtj Free to use with attribution; the underlying files are at Open data.