Which resets first, CPSJ or GJUL?

CPSJ ends its outcome period on Jul 1, 2027 and GJUL on Jul 16, 2027. A new cap is set the day after each.

Which is cheaper, CPSJ or GJUL?

CPSJ charges 0.69% a year and GJUL charges 0.85%, so CPSJ is cheaper. Fees come from each fund's prospectus.

CPSJ vs GJUL: which one stands where?

As of Oct 1, 2026 GJUL can fall 2.8% before its buffer engages and CPSJ 1.1%, and CPSJ resets 16 days sooner. Calamos S&P 500 ® Structured Alt Protection ETF - July and FT Vest U.S. Equity Moderate Buffer ETF - July.

CPSJFull floor

CPSJ: reference +2.3% since period start, fund +1.0%; buffer −0 to floor; cap +7.6%; Full floor.

GJULBetween buffer and cap

GJUL: reference +2.6% since period start, fund +2.0%; buffer 0 to −15; cap +13.8%; Between buffer and cap.

These are two different products. CPSJ is a floor fund, which caps how far a holder can fall. GJUL is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Where each one stands today

CPSJ resets first, on Jul 1, 2027, 273 days from now; GJUL runs to Jul 16, 2027, 289 days. A fall from here reaches CPSJ’s buffer after 1.1% and GJUL’s after 2.8%. 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

	Total return		Gap to the reference
Window	CPSJ	GJUL	CPSJ	GJUL
3 months	+1.0%	+2.4%	−1.5 pts	−0.1 pts
6 months	+3.7%	+8.8%	−13.3 pts	−8.1 pts
1 year	+5.2%	+9.9%	−10.5 pts	−5.8 pts
3 years	not published	+48.9%	not published	−36.1 pts

CPSJ and GJUL over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CPSJ

Calamos S&P 500 ® Structured Alt Protection ETF - July · Absorbs losses from 0.1% to 100.0% on SPY and caps the gain at 7.6%, over a period ending Jul 1, 2027

GJUL

FT Vest U.S. Equity Moderate Buffer ETF - July · Absorbs the first 15% of loss on SPY and caps the gain at 13.8%, over a period ending Jul 16, 2027

Issuer Calamos First Trust

Reference index SPY SPY

Buffer 0% to 100% 15%

Outcome period Jul 1, 2026 to Jul 1, 2027 Jul 20, 2026 to Jul 16, 2027

Days left 273 289

Starting cap +7.6% +13.8%

Can still gain not published 10.8%

Fall before buffer 1.1% 2.8%

Protection left, index points 99.9% of 99.9% 15.0% of 15.0%

Index return this period +2.3% +2.6%

Fund return this period +1.0% +2.0%

State today Open Open

Expense ratio 0.69% 0.85%

Net assets $50m $411m

CPSJ and GJUL on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CPSJ in plain words

The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.3% from today's level to the point where the buffer begins. Protection left, in index points: 99.9% of the 99.9% buffer still sits below today's SPY level. 273 days remained on Oct 1, 2026. On Jul 1, 2027 the period ends and a new cap is set.

GJUL in plain words

From its price on Oct 1, 2026, the fund can gain about 10.8% more before it reaches its cap. The fund's price can fall 2.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.5% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 289 days remained on Oct 1, 2026. On Jul 16, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPSJ or GJUL?: CPSJ ends its outcome period on Jul 1, 2027 and GJUL on Jul 16, 2027. A new cap is set the day after each.
Which is cheaper, CPSJ or GJUL?: CPSJ charges 0.69% a year and GJUL charges 0.85%, so CPSJ is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSJ vs DDFL CPSJ vs DDTL CPSJ vs DJUL CPSJ vs DJUN GJUL vs UAUG GJUL vs XJUL GJUL vs DJUL GJUL vs FJUL

S&P 500 (SPY) →CPSJ on its own →GJUL on its own →How every figure is computed →Standards and sources →

Where these figures came from

CPSJ filings on SEC EDGAR ↗Calamos website ↗GJUL filings on SEC EDGAR ↗First Trust page for GJUL ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, CPSJ against GJUL, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpsj-vs-gjul

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.