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CPSJ vs JUNM: Cap, Buffer & Days Left

As of Oct 9, 2026 JUNM can fall 2.3% before its buffer engages and CPSJ 1.6%, and JUNM resets 13 days sooner. Net assets on Oct 9, 2026: $50m for Calamos S&P 500 ® Structured Alt Protection ETF - July and $68m for FT Vest U.S. Equity Max Buffer ETF - June.

CPSJ costs 0.16 points a year less; their one-year returns differ by 0.5 points; JUNM is 1.4 times larger.

CPSJJUNM
Expense ratio0.69%0.85%
Net assets$50m$68m
Total return, 1 year+5.5%+5.0%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer4.2%4.1%
CPSJFull floor
Full floorCPSJ: reference +4.4% since period start, fund +1.5%; buffer Floor; cap +7.7%; Full floor. Figures to Oct 9, 2026.full floor beneath+4.4%full floor0% period start+7.7% cap+3.3% more to the capTODAY · SPY +4.4%Full floorCPSJ: reference +4.4% since period start, fund +1.5%; buffer Floor; cap +7.7%; Full floor. Figures to Oct 9, 2026.full floor beneathfull floor0% start+7.7% cap+4.4% gain captured+3.3% more to the capTODAY · SPY +4.4%

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.

JUNMFull floor
Full floorJUNM: reference +4.3% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Figures to Oct 9, 2026.full floor beneath+4.3%full floor0% period start+7.3% cap+3.1% more to the capTODAY · SPY +4.3%Full floorJUNM: reference +4.3% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Figures to Oct 9, 2026.full floor beneathfull floor0% start+7.3% cap+4.3% gain captured+3.1% more to the capTODAY · SPY +4.3%

JUNM: reference +4.3% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

Where each one stands today

JUNM resets first, on Jun 17, 2027, 251 days from now; CPSJ runs to Jun 30, 2027, 264 days. A fall from here reaches CPSJ’s buffer after 1.6% and JUNM’s after 2.3%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Total returnGap to the reference's price return
WindowCPSJJUNMCPSJJUNM
3 months+1.2%+1.3%−1.9 pts−1.9 pts
6 months+3.3%+2.7%−11.3 pts−11.9 pts
1 year+5.5%+5.0%−10.5 pts−11.0 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

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
JUNM
FT Vest U.S. Equity Max Buffer ETF - June · Absorbs the whole loss on SPY and caps the gain at 7.3%, over a period ending Jun 17, 2027
Issuer Calamos First Trust
Reference index SPY SPY
Buffer 100% 100%
Outcome period Jul 1, 2026 to Jun 30, 2027 Jun 22, 2026 to Jun 17, 2027
Days left 264 251
Starting cap +7.7% +7.3%
Can still gain not published 4.9%
Fall before buffer 1.6% 2.3%
Protection left, index points 100.0% of 100.0% 100.0% of 100.0%
Index return this period +4.4% +4.3%
Fund return this period +1.5% +1.5%
State today Open Open
Expense ratio 0.69% 0.85%
Net assets $50m $68m

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.

JUNM in plain words

From its price on Oct 9, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 2.3% 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. 251 days remained on Oct 9, 2026. On Jun 17, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPSJ or JUNM?
CPSJ ends its outcome period on Jun 30, 2027 and JUNM on Jun 17, 2027. A new cap is set the day after each.
Which is cheaper, CPSJ or JUNM?
CPSJ charges 0.69% a year and JUNM charges 0.85%, so CPSJ is cheaper. Fees come from each fund's prospectus.
Other comparisons
CPSJ vs JULUCPSJ vs TJULCPSJ vs JULPCPSJ vs DDTGJUNM vs PBJLJUNM vs XBJLJUNM vs TJULJUNM vs XJUN
S&P 500 (SPY) →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →CPSJ on its own →JUNM on its own →How every figure is computed →Standards and sources →
Where these figures came from
CPSJ filings on SEC EDGAR ↗Calamos website ↗JUNM filings on SEC EDGAR ↗First Trust page for JUNM ↗

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 page

ETFIQ, CPSJ against JUNM, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cpsj-vs-junm

Open data

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