Data as of Nov 4, 2026.

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Buffer ETFs

CPSJ vs JUNM: Cap, Buffer & Days Left

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As of Nov 4, 2026 JUNM can fall 2.3% before its buffer engages and CPSJ 1.7%, and JUNM resets 13 days sooner.

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Net assets: $51m on Nov 4, 2026 for Calamos S&P 500 Structured Alt Protection ETF - July, and $66m on Nov 3, 2026 for FT Vest U.S. Equity Max Buffer ETF - June.

At a glance
CPSJ Full floor
Full floorCPSJ: reference +2.8% since period start, fund +1.5%; buffer Floor; cap +7.7%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% period start+7.7% cap+2.8% gain captured+4.9% more to the capTODAY · SPY +2.8%Full floorCPSJ: reference +2.8% since period start, fund +1.5%; buffer Floor; cap +7.7%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% start+7.7% cap+2.8% gain captured+4.9% more to the capTODAY · SPY +2.8%

CPSJ: reference +2.8% since period start, fund +1.5%; buffer Floor; cap +7.7%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.
JUNM Full floor
Full floorJUNM: reference +2.7% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% period start+7.3% cap+2.7% gain captured+4.7% more to the capTODAY · SPY +2.7%Full floorJUNM: reference +2.7% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% start+7.3% cap+2.7% gain captured+4.7% more to the capTODAY · SPY +2.7%

JUNM: reference +2.7% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

CPSJ costs 0.16 points a year less; their one-year returns differ by 0.5 points; JUNM is 1.3 times larger.

Points (pts) are percentage points.

CPSJ vs JUNM: Cap, Buffer & Days Left
MeasureCPSJJUNM
Return
Total return, 1 year+5.3%+4.8%
Drawdown
Index fall to the buffer2.7%2.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.69%0.85%
Net assets, as of Nov 3, 2026$50m$66m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: CPSJ vs JUNM: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowCPSJJUNMCPSJJUNM
3 months+0.7%+0.7%+1.0 pts+1.0 pts
6 months+2.2%+2.0%−2.2 pts−2.5 pts
1 year+5.3%+4.8%−8.2 pts−8.7 pts
Since launchNot the same days: CPSJ Jul 2024 · JUNM Jun 2024+16.9%+16.6%−23.7 pts−24.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

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
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 238 225
Starting cap +7.7% +7.3%
Can still gain not published 4.9%
Fall before buffer 1.7% 2.3%
Protection left, index points 100.0% of 100.0% 100.0% of 100.0%
Index return this period +2.8% +2.7%
Fund return this period +1.5% +1.5%
State today Open Open
Expense ratio 0.69% 0.85%
Net assets, CPSJ as of Nov 4, 2026 and JUNM as of Nov 3, 2026 $51m $66m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

JUNM resets first, on Jun 17, 2027, 225 days from now; CPSJ runs to Jun 30, 2027, 238 days. A fall from here reaches CPSJ’s buffer after 1.7% and JUNM’s after 2.3%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
CPSJ

The fund's price can fall 1.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.7% 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. 238 days remained on Nov 4, 2026. On Jun 30, 2027 the period ends and a new cap is set.

JUNM

From its price on Nov 4, 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 number. In index terms, SPY can fall 2.6% from today's level to the point where the buffer begins. 225 days remained on Nov 4, 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.
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Sources and dates

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, CPSJ against JUNM, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/cpsj-vs-junm

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