Which resets first, CPSF or SIXF?

CPSF ends its outcome period on Jan 29, 2027 and SIXF on Jan 31, 2027. A new cap is set the day after each.

Which is cheaper, CPSF or SIXF?

CPSF charges 0.69% a year and SIXF charges 0.74%, so CPSF is cheaper. Fees come from each fund's prospectus.

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CPSF vs SIXF: Cap, Buffer & Days Left

As of Oct 9, 2026 CPSF can fall 4.1% before its buffer engages and SIXF 3.2%, and CPSF resets 2 days sooner. Net assets on Oct 9, 2026: $35m for Calamos S&P 500 ® Structured Alt Protection ETF - February and $52m for AllianzIM U.S. Equity Buffer10 ETF - Feb.

CPSF costs 0.05 points a year less; their one-year returns differ by 8.1 points; SIXF is 1.5 times larger.

Points (pts) are percentage points.

CPSF vs SIXF: Cap, Buffer & Days Left
	CPSF	SIXF
Expense ratio	0.69%	0.74%
Net assets	$35m	$52m
Total return, 1 year	+6.1%	+14.2%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	10.7%	4.0%

CPSFAt its cap

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.

SIXFBetween buffer and cap

SIXF: reference +4.2% since period start, fund +2.9%; buffer 0 to −10; cap +7.8%; 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. SIXF 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; SIXF runs to Jan 31, 2027, 114 days. A fall from here reaches CPSF’s buffer after 4.1% and SIXF’s after 3.2%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: CPSF vs SIXF: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	CPSF	SIXF	CPSF	SIXF
3 months	+1.6%	+3.7%	−1.5 pts	+0.5 pts
6 months	+3.8%	+10.4%	−10.8 pts	−4.2 pts
1 year	+6.1%	+14.2%	−9.9 pts	−1.8 pts
Since launch Not the same days: CPSF Feb 2025 · SIXF Feb 2024	+10.9%	+41.4%	−19.4 pts	−17.8 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

CPSF

Calamos S&P 500 ® Structured Alt Protection ETF - February · Absorbs the whole loss on SPY and caps the gain at 6.3%, over a period ending Jan 29, 2027

SIXF

AllianzIM U.S. Equity Buffer10 ETF - Feb · Absorbs the first 10% of loss on SPY and caps the gain at 7.8%, over a period ending Jan 31, 2027

Issuer Calamos AllianzIM

Reference index SPY SPY

Buffer 100% 10%

Outcome period Feb 2, 2026 to Jan 29, 2027 Aug 1, 2026 to Jan 31, 2027

Days left 112 114

Starting cap +6.3% +7.8%

Can still gain not published 4.4%

Fall before buffer 4.1% 3.2%

Protection left, index points 100.0% of 100.0% 10.0% of 10.0%

Index return this period +12.0% +4.2%

Fund return this period +3.8% +2.9%

State today At cap Open

Expense ratio 0.69% 0.74%

Net assets $35m $52m

As of Oct 9, 2026. Source: ETFIQ.

About CPSF

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.

About SIXF

From its price on Oct 9, 2026, the fund can gain about 4.4% more before it reaches its cap. The fund's price can fall 3.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 4.0% 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

Which resets first, CPSF or SIXF?: CPSF ends its outcome period on Jan 29, 2027 and SIXF on Jan 31, 2027. A new cap is set the day after each.
Which is cheaper, CPSF or SIXF?: CPSF charges 0.69% a year and SIXF charges 0.74%, so CPSF is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSF vs DDFF CPSF vs XJAN CPSF vs ZFEB CPSF vs FEBT SIXF vs CPSY SIXF vs DDTF SIXF vs XJAN SIXF vs UFEB

S&P 500 (SPY) →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →CPSF on its own →SIXF on its own →How every figure is computed →Standards and sources →

Where these figures came from

CPSF filings on SEC EDGAR ↗Calamos website ↗SIXF filings on SEC EDGAR ↗AllianzIM page for SIXF ↗

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, CPSF against SIXF, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cpsf-vs-sixf

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.