CPSF vs DDTF: Cap, Buffer & Days Left
As of Oct 9, 2026 DDTF can fall 8.6% before its buffer engages and CPSF 4.1%, and CPSF resets 2 days sooner. Net assets on Oct 9, 2026: $35m for Calamos S&P 500 ® Structured Alt Protection ETF - February and $18m for Innovator Equity Dual Directional 10 Buffer ETF - Feb.
CPSF costs 0.10 points a year less; CPSF is 1.9 times larger.
| CPSF | DDTF | |
|---|---|---|
| Expense ratio | 0.69% | 0.79% |
| Net assets | $35m | $18m |
| Total return, 1 year | +6.1% | not published |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 10.7% | 11.1% |
CPSF: reference +12.0% since period start, fund +3.8%; buffer Floor; cap +6.3%; At its cap. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
DDTF: reference +12.5% since period start, fund +8.8%; buffer 0 to −10; cap +13.2%; Between buffer and cap. Figures to Oct 9, 2026.
DDTF: reference +12.5% since period start, fund +8.8%; buffer 0 to −10; cap +13.2%; Between buffer and cap. Figures to Oct 9, 2026.
These are two different products. CPSF is a floor fund, which caps how far a holder can fall. DDTF is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
CPSF is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
CPSF resets first, on Jan 29, 2027, 112 days from now; DDTF runs to Jan 31, 2027, 114 days. A fall from here reaches CPSF’s buffer after 4.1% and DDTF’s after 8.6%. 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 | CPSF | DDTF | CPSF | DDTF |
| 3 months | +1.6% | +2.8% | −1.5 pts | −0.4 pts |
| 6 months | +3.8% | +9.1% | −10.8 pts | −5.5 pts |
| 1 year | +6.1% | not published | −9.9 pts | not published |
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.
CPSF in plain words
SPY had already risen past this fund's cap of +6.3% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's price can fall 4.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.7% 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. 112 days remained on Oct 9, 2026. On Jan 29, 2027 the period ends and a new cap is set.
DDTF in plain words
From its price on Oct 9, 2026, the fund can gain about 3.5% more before it reaches its cap. The fund's price can fall 8.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.1% 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. 114 days remained on Oct 9, 2026. On Jan 31, 2027 the period ends and a new cap is set.
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, CPSF against DDTF, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cpsf-vs-ddtf
ETFIQ. (Oct 9, 2026). CPSF against DDTF. Retrieved from https://etfiq.com/compare/buffer/cpsf-vs-ddtf
[CPSF against DDTF (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/cpsf-vs-ddtf)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.