CPSD vs PMDE: Cap, Buffer & Days Left
As of Oct 13, 2026 PMDE can fall 5.7% before its buffer engages and CPSD 5.5%. Net assets on Oct 13, 2026: $46m for Calamos S&P 500 ® Structured Alt Protection ETF - December and $9m for PGIM S&P 500 Max Buffer ETF - December.
PMDE costs 0.19 points a year less; CPSD is 5.0 times larger.
Points (pts) are percentage points.
| CPSD | PMDE | |
|---|---|---|
| Expense ratio | 0.69% | 0.50% |
| Net assets | $46m | $9m |
| Total return, 1 year | +6.8% | not published |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 12.6% | 12.2% |
CPSD: reference +14.4% since period start, fund +5.2%; buffer Floor; cap +6.7%; At its cap. Figures to Oct 13, 2026.
Figures to Oct 13, 2026.
PMDE: reference +13.8% since period start, fund +5.5%; buffer Floor; cap +7.0%; At its cap. Figures to Oct 13, 2026.
Figures to Oct 13, 2026.
Both are already at their cap, so neither gains from more rise in the index before the period ends.
Where each one stands today
CPSD resets first, on Nov 30, 2026, 48 days from now; PMDE runs to Nov 30, 2026, 48 days. A fall from here reaches CPSD’s buffer after 5.5% and PMDE’s after 5.7%. Both track SPY, 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 | CPSD | PMDE | CPSD | PMDE |
| 3 months | +1.7% | +1.8% | −1.8 pts | −1.7 pts |
| 6 months | +3.8% | +4.0% | −8.3 pts | −8.1 pts |
| 1 year | +6.8% | not published | −10.6 pts | not published |
| Since launch Not the same days: CPSD Dec 2024 · PMDE Dec 2025 | +12.8% | +5.5% | −16.1 pts | −8.9 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →
On the same fields
As of Oct 13, 2026. Source: ETFIQ.
About CPSD
SPY had already risen past this fund's cap of +6.7% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's price can fall 5.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.6% 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 SPY level. 48 days remained on Oct 13, 2026. On Nov 30, 2026 the period ends and a new cap is set.
About PMDE
SPY had already risen past this fund's cap of +7.0% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.9% as the period runs out. The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.2% from today's level to the point where the buffer begins.
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, CPSD against PMDE, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/cpsd-vs-pmde
ETFIQ. (Oct 13, 2026). CPSD against PMDE. Retrieved from https://etfiq.com/compare/buffer/cpsd-vs-pmde
[CPSD against PMDE (ETFIQ, Oct 13, 2026)](https://etfiq.com/compare/buffer/cpsd-vs-pmde)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.