Which resets first, CPSJ or JULP?

CPSJ ends its outcome period on Jun 30, 2027 and JULP on Jun 30, 2027. A new cap is set the day after each.

Which is cheaper, CPSJ or JULP?

CPSJ charges 0.69% a year and JULP charges 0.50%, so JULP is cheaper. Fees come from each fund's prospectus.

Open in the app Compare their flows Ask IQ about these two funds

CPSJ vs JULP: Cap, Buffer & Days Left

As of Oct 13, 2026 JULP can fall 3.8% before its buffer engages and CPSJ 1.7%. Net assets on Oct 13, 2026: $50m for Calamos S&P 500 ® Structured Alt Protection ETF - July and $39m for PGIM S&P 500 Buffer 12 ETF - July.

JULP costs 0.19 points a year less; their one-year returns differ by 6.7 points; CPSJ is 1.3 times larger.

Points (pts) are percentage points.

CPSJ vs JULP: Cap, Buffer & Days Left
	CPSJ	JULP
Expense ratio	0.69%	0.50%
Net assets	$50m	$39m
Total return, 1 year	+5.6%	+12.3%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	4.1%	4.0%

CPSJFull floor

CPSJ: reference +4.3% since period start, fund +1.6%; buffer Floor; cap +7.7%; Full floor. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

JULPBetween buffer and cap

JULP: reference +4.2% since period start, fund +3.5%; buffer 0 to −12; cap +16.2%; Between buffer and cap. Figures to Oct 13, 2026.

These are two different products. CPSJ is a floor fund, which caps how far a holder can fall. JULP 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 Jun 30, 2027, 260 days from now; JULP runs to Jun 30, 2027, 260 days. A fall from here reaches CPSJ’s buffer after 1.7% and JULP’s after 3.8%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: CPSJ vs JULP: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	CPSJ	JULP	CPSJ	JULP
3 months	+1.2%	+3.0%	−2.3 pts	−0.5 pts
6 months	+3.2%	+7.1%	−8.9 pts	−4.9 pts
1 year	+5.6%	+12.3%	−11.7 pts	−5.1 pts
Since launch Not the same days: CPSJ Jul 2024 · JULP May 2024	+17.0%	+34.9%	−25.7 pts	−15.5 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

CPSJ

Calamos S&P 500 ® Structured Alt Protection ETF - July · Absorbs the whole loss on SPY and caps the gain at 7.7%, over a period ending Jun 30, 2027

JULP

PGIM S&P 500 Buffer 12 ETF - July · Absorbs the first 12% of loss on SPY and caps the gain at 16.2%, over a period ending Jun 30, 2027

Issuer Calamos PGIM

Reference index SPY SPY

Buffer 100% 12%

Outcome period Jul 1, 2026 to Jun 30, 2027 Jul 1, 2026 to Jun 30, 2027

Days left 260 260

Starting cap +7.7% +16.2%

Can still gain not published 11.8%

Fall before buffer 1.7% 3.8%

Protection left, index points 100.0% of 100.0% 12.0% of 12.0%

Index return this period +4.3% +4.2%

Fund return this period +1.6% +3.5%

State today Open Open

Expense ratio 0.69% 0.50%

Net assets $50m $39m

As of Oct 13, 2026. Source: ETFIQ.

About CPSJ

The fund's price can fall 1.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 4.1% 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. 260 days remained on Oct 13, 2026. On Jun 30, 2027 the period ends and a new cap is set.

About JULP

From its price on Oct 13, 2026, the fund can gain about 11.8% more before it reaches its cap. The fund's price can fall 3.8% 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: 12.0% of the 12.0% buffer still sits below today's SPY level.

Questions people ask

Which resets first, CPSJ or JULP?: CPSJ ends its outcome period on Jun 30, 2027 and JULP on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, CPSJ or JULP?: CPSJ charges 0.69% a year and JULP charges 0.50%, so JULP is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSJ vs PBJL CPSJ vs XBJL CPSJ vs JULU CPSJ vs DDTL JULP vs JULT JULP vs JULU JULP vs JULW JULP vs JUNM

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

Where these figures came from

CPSJ filings on SEC EDGAR ↗CPSJ prospectus with the expense ratio (SEC) ↗Calamos website ↗JULP filings on SEC EDGAR ↗PGIM website ↗

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, CPSJ against JULP, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/cpsj-vs-julp

Open data

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