CPSD vs ZDEK: Cap, Buffer & Days Left
As of Oct 9, 2026 ZDEK can fall 5.6% before its buffer engages and CPSD 5.4%. Net assets on Oct 9, 2026: $46m for Calamos S&P 500 ® Structured Alt Protection ETF - December and $108m for Innovator Equity Defined Protection ETF - 1 Yr December.
CPSD costs 0.10 points a year less; their one-year returns differ by 0.1 points; ZDEK is 2.3 times larger.
| CPSD | ZDEK | |
|---|---|---|
| Expense ratio | 0.69% | 0.79% |
| Net assets | $46m | $108m |
| Total return, 1 year | +6.5% | +6.4% |
| 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 +5.1%; buffer Floor; cap +6.7%; At its cap. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
ZDEK: reference +13.9% since period start, fund +5.2%; buffer Floor; cap +6.8%; At its cap. Figures to Oct 9, 2026.
Figures to Oct 9, 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, 52 days from now; ZDEK runs to Nov 30, 2026, 52 days. A fall from here reaches CPSD’s buffer after 5.4% and ZDEK’s after 5.6%. 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 | ZDEK | CPSD | ZDEK |
| 3 months | +1.7% | +1.6% | −1.4 pts | −1.5 pts |
| 6 months | +4.1% | +4.2% | −10.5 pts | −10.4 pts |
| 1 year | +6.5% | +6.4% | −9.6 pts | −9.6 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
CPSD in plain words
SPY had already risen past this fund's cap of +6.7% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's price can fall 5.4% 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. 52 days remained on Oct 9, 2026. On Nov 30, 2026 the period ends and a new cap is set.
ZDEK in plain words
SPY had already risen past this fund's cap of +6.8% for the period on Oct 9, 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 5.6% 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.
ETFIQ, CPSD against ZDEK, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cpsd-vs-zdek
ETFIQ. (Oct 9, 2026). CPSD against ZDEK. Retrieved from https://etfiq.com/compare/buffer/cpsd-vs-zdek
[CPSD against ZDEK (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/cpsd-vs-zdek)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.