CPSJ vs JULU: Cap, Buffer & Days Left
As of Oct 9, 2026 JULU can fall 3.2% before its buffer engages and CPSJ 1.6%. Net assets: $50m on Oct 9, 2026 for Calamos S&P 500 ® Structured Alt Protection ETF - July, and $81m on Oct 8, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jul.
CPSJ costs 0.05 points a year less; their one-year returns differ by 6.3 points; JULU is 1.6 times larger.
| CPSJ | JULU | |
|---|---|---|
| Expense ratio | 0.69% | 0.74% |
| Net assets, as of Oct 8, 2026 | $50m | $81m |
| Total return, 1 year | +5.5% | +11.8% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 4.2% | 4.1% |
CPSJ: reference +4.4% since period start, fund +1.5%; buffer Floor; cap +7.7%; Full floor. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
JULU: reference +4.3% since period start, fund +2.6%; buffer 0 to −15; no cap; No cap. Figures to Oct 9, 2026.
JULU: reference +4.3% since period start, fund +2.6%; buffer 0 to −15; no cap; No cap. Figures to Oct 9, 2026.
These are two different products. CPSJ is a floor fund, which caps how far a holder can fall. JULU 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, 264 days from now; JULU runs to Jun 30, 2027, 264 days. A fall from here reaches CPSJ’s buffer after 1.6% and JULU’s after 3.2%. 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 | CPSJ | JULU | CPSJ | JULU |
| 3 months | +1.2% | +1.8% | −1.9 pts | −1.3 pts |
| 6 months | +3.3% | +11.9% | −11.3 pts | −2.6 pts |
| 1 year | +5.5% | +11.8% | −10.5 pts | −4.2 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.
CPSJ in plain words
The fund's price can fall 1.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 4.2% 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. 264 days remained on Oct 9, 2026. On Jun 30, 2027 the period ends and a new cap is set.
JULU in plain words
This fund has no cap. It takes a share of any further rise in SPY. 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 4.1% 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. On Jun 30, 2027 the period ends and new terms are 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, CPSJ against JULU, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cpsj-vs-julu
ETFIQ. (Oct 9, 2026). CPSJ against JULU. Retrieved from https://etfiq.com/compare/buffer/cpsj-vs-julu
[CPSJ against JULU (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/cpsj-vs-julu)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.