Which resets first, CPSJ or PMAU?

CPSJ ends its outcome period on Jul 1, 2027 and PMAU on Jul 31, 2027. A new cap is set the day after each.

Which is cheaper, CPSJ or PMAU?

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

CPSJ vs PMAU: which one stands where?

As of Oct 1, 2026 PMAU can fall 1.2% before its buffer engages and CPSJ 1.1%, and CPSJ resets 31 days sooner. Calamos S&P 500 ® Structured Alt Protection ETF - July and PGIM S&P 500 Max Buffer ETF - August.

CPSJFull floor

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

PMAUFull floor

PMAU: reference +2.1% since period start, fund +0.8%; buffer Floor; cap +7.9%; Full floor.

They do not reset together. CPSJ has 273 days of its period left and PMAU has 304, so the two are not the same bet on the same months.

Where each one stands today

CPSJ resets first, on Jul 1, 2027, 273 days from now; PMAU runs to Jul 31, 2027, 304 days. A fall from here reaches CPSJ’s buffer after 1.1% and PMAU’s after 1.2%. 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	PMAU	CPSJ	PMAU
3 months	+1.0%	+1.2%	−1.5 pts	−1.3 pts
6 months	+3.7%	+4.7%	−13.3 pts	−12.3 pts
1 year	+5.2%	+5.9%	−10.5 pts	−9.8 pts

CPSJ and PMAU 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

PMAU

PGIM S&P 500 Max Buffer ETF - August · Absorbs the whole loss on SPY and caps the gain at 7.9%, over a period ending Jul 31, 2027

Issuer Calamos PGIM

Reference index SPY SPY

Buffer 0% to 100% 100%

Outcome period Jul 1, 2026 to Jul 1, 2027 Aug 1, 2026 to Jul 31, 2027

Days left 273 304

Starting cap +7.6% +7.9%

Can still gain not published 6.6%

Fall before buffer 1.1% 1.2%

Protection left, index points 99.9% of 99.9% 100.0% of 100.0%

Index return this period +2.3% +2.1%

Fund return this period +1.0% +0.8%

State today Open Open

Expense ratio 0.69% 0.50%

Net assets $50m $6m

CPSJ and PMAU 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.

PMAU in plain words

From its price on Oct 1, 2026, the fund can gain about 6.6% more before it reaches its cap. The fund's price can fall 1.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.0% 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. 304 days remained on Oct 1, 2026. On Jul 31, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPSJ or PMAU?: CPSJ ends its outcome period on Jul 1, 2027 and PMAU on Jul 31, 2027. A new cap is set the day after each.
Which is cheaper, CPSJ or PMAU?: CPSJ charges 0.69% a year and PMAU charges 0.50%, so PMAU is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSJ vs JULT CPSJ vs JULU CPSJ vs JULW CPSJ vs JUNM PMAU vs DJUL PMAU vs FJUL PMAU vs PAUG PMAU vs UAUG

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

Where these figures came from

CPSJ filings on SEC EDGAR ↗Calamos website ↗PMAU filings on SEC EDGAR ↗PGIM website ↗

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 PMAU, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpsj-vs-pmau

Open data

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