Which resets first, CPSJ or ZJUL?

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

Which is cheaper, CPSJ or ZJUL?

CPSJ charges 0.69% a year and ZJUL charges 0.79%, so CPSJ is cheaper. Fees come from each fund's prospectus.

CPSJ vs ZJUL: which one stands where?

As of Oct 2, 2026 ZJUL can fall 1.6% before its buffer engages and CPSJ 1.4%. Calamos S&P 500 ® Structured Alt Protection ETF - July and Innovator Equity Defined Protection ETF - 1 Yr July.

CPSJ costs 0.10 points a year less; their one-year returns differ by 0.2 points; ZJUL is 3.9 times larger.

	CPSJ	ZJUL
Expense ratio	0.69%	0.79%
Net assets	$50m	$195m
Total return, 1 year	+5.3%	+5.1%
What it tracks	SPY	SPY
Holdings in common	not published

CPSJFull floor

CPSJ: reference +3.2% since period start, fund +1.2%; buffer −0 to floor; cap +7.6%; Full floor.

ZJULFull floor

ZJUL: reference +3.1% since period start, fund +1.4%; buffer Floor; cap +8.4%; Full floor.

Where each one stands today

CPSJ resets first, on Jun 30, 2027, 271 days from now; ZJUL runs to Jun 30, 2027, 271 days. A fall from here reaches CPSJ’s buffer after 1.4% and ZJUL’s after 1.6%. 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	ZJUL	CPSJ	ZJUL
3 months	+1.2%	+1.1%	−2.4 pts	−2.5 pts
6 months	+4.0%	+3.9%	−14.0 pts	−14.0 pts
1 year	+5.3%	+5.1%	−11.0 pts	−11.1 pts

CPSJ and ZJUL 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 Jun 30, 2027

ZJUL

Innovator Equity Defined Protection ETF - 1 Yr July · Absorbs the whole loss on SPY and caps the gain at 8.4%, over a period ending Jun 30, 2027

Issuer Calamos Innovator

Reference index SPY SPY

Buffer 0% to 100% 100%

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

Days left 271 271

Starting cap +7.6% +8.4%

Can still gain not published 6.8%

Fall before buffer 1.4% 1.6%

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

Index return this period +3.2% +3.1%

Fund return this period +1.2% +1.4%

State today Open Open

Expense ratio 0.69% 0.79%

Net assets $50m $195m

CPSJ and ZJUL on the same fields, as of Oct 2, 2026. Source: ETFIQ.

CPSJ in plain words

The fund's price can fall 1.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.2% 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. 271 days remained on Oct 2, 2026. On Jun 30, 2027 the period ends and a new cap is set.

ZJUL in plain words

From its price on Oct 2, 2026, the fund can gain about 6.8% more before it reaches its cap. 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 3.0% 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.

Questions people ask

Which resets first, CPSJ or ZJUL?: CPSJ ends its outcome period on Jun 30, 2027 and ZJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, CPSJ or ZJUL?: CPSJ charges 0.69% a year and ZJUL charges 0.79%, so CPSJ is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSJ vs GJUL CPSJ vs GJUN CPSJ vs HAUG CPSJ vs HJLY ZJUL vs CTJL ZJUL vs DDFL ZJUL vs DDTL ZJUL vs DJUN

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

Where these figures came from

CPSJ filings on SEC EDGAR ↗Calamos website ↗ZJUL filings on SEC EDGAR ↗Innovator page for ZJUL ↗

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 ZJUL, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/cpsj-vs-zjul

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.