{"url":"https://etfiq.com/compare/buffer/cpsm-vs-fapr","section":"compare","title":"CPSM vs FAPR: Cap, Buffer & Days Left | ETFIQ","description":"As of Oct 22, 2026 CPSM can fall 2.4% and FAPR 6.3% before its buffer engages, on SPY. CPSM ends on Apr 30, 2027 and FAPR on Apr 16, 2027.","as_of":"Oct 22, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which resets first, CPSM or FAPR?","acceptedAnswer":{"@type":"Answer","text":"CPSM ends its outcome period on Apr 30, 2027 and FAPR on Apr 16, 2027. A new cap is set the day after each."}},{"@type":"Question","name":"Which is cheaper, CPSM or FAPR?","acceptedAnswer":{"@type":"Answer","text":"CPSM charges 0.69% a year and FAPR charges 0.85%, so CPSM is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Buffer ETFs","item":"https://etfiq.com/buffer/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"CPSM vs FAPR","item":"https://etfiq.com/compare/buffer/cpsm-vs-fapr"}]},{"@type":"WebPage","name":"CPSM vs FAPR: Cap, Buffer & Days Left","description":"As of Oct 22, 2026 CPSM can fall 2.4% and FAPR 6.3% before its buffer engages, on SPY. CPSM ends on Apr 30, 2027 and FAPR on Apr 16, 2027.","url":"https://etfiq.com/compare/buffer/cpsm-vs-fapr","dateModified":"2026-10-22","abstract":"As of Oct 22, 2026 FAPR can fall 6.3% before its buffer engages and CPSM 2.4%, and FAPR resets 14 days sooner.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of CPSM and FAPR","description":"As of Oct 22, 2026 CPSM can fall 2.4% and FAPR 6.3% before its buffer engages, on SPY. CPSM ends on Apr 30, 2027 and FAPR on Apr 16, 2027.","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/buffer/cpsm-vs-fapr","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/funds.json"}],"variableMeasured":["Remaining cap","Fall before the buffer engages","Protection left in index points","Starting buffer","Outcome period","Reference index return","Fund return","Days remaining","Expense ratio"],"keywords":["exchange-traded funds","ETF","Buffer ETFs","fund data","SEC filings"]}],"characters":5964,"truncated":true,"content":"ETFIQ / Buffer ETFs / Compare ETFs / CPSM vs FAPR \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 22, 2026 .\n\n CPSM vs FAPR: Cap, Buffer & Days Left\n\n As of Oct 22, 2026 FAPR can fall 6.3% before its buffer engages and CPSM 2.4%, and FAPR resets 14 days sooner.\n Copy this for sharing \n \n CPSM costs 0.16 points a year less; their one-year returns differ by 5.3 points; FAPR is far larger, $1.3bn against $59m.\n CPSM and FAPR at a glance. As of Oct 22, 2026. Source: ETFIQ. CPSM FAPR \n Expense ratio 0.69% 0.85% \n Net assets $59m $1.3bn \n Total return, 1 year +4.7% +10.0% \n What it tracks","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, CPSM against FAPR, data as of Oct 22, 2026. https://etfiq.com/compare/buffer/cpsm-vs-fapr","a":{"ticker":"CPSM","name":"Calamos S&P 500 Structured Alt Protection ETF - May","issuer":"Calamos","desk":"buffer","as_of":"2026-10-22","verdict":"Since May 1, 2026, CPSM returned 2.2%, against 6.0% for SPY. It can fall 2.4% before its buffer.","url":"https://etfiq.com/funds/cpsm","key_facts":[{"label":"Fall before the buffer from today\u2019s fund price","value":"2.4%","as_of":"2026-10-22","source":null},{"label":"Protection left, index points","value":"100.0%","as_of":"2026-10-22","source":null},{"label":"Days to reset","value":"190","as_of":"2026-10-22","source":null},{"label":"Net assets","value":"$59m","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.69%","as_of":"2026-10-22","source":"issuer page, Oct 22, 2026"},{"label":"Reference index","value":"SPY","as_of":"2026-10-22","source":null}]},"b":{"ticker":"FAPR","name":"FT Vest U.S. Equity Buffer ETF - April","issuer":"First Trust","desk":"buffer","as_of":"2026-10-22","verdict":"Since Apr 20, 2026, FAPR returned 5.9%, against 7.6% for SPY. It can gain 8.0% more before its cap.","url":"https://etfiq.com/funds/fapr","key_facts":[{"label":"Can still gain from today\u2019s fund price","value":"8.0%","as_of":"2026-10-22","source":null},{"label":"Fall before the buffer from today\u2019s fund price","value":"6.3%","as_of":"2026-10-22","source":null},{"label":"Protection left, index points","value":"10.0%","as_of":"2026-10-22","source":null},{"label":"Days to reset","value":"176","as_of":"2026-10-22","source":null},{"label":"Net assets","value":"$1.3bn","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.85%","as_of":"2026-10-22","source":"issuer page, Oct 22, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/buffer/cpsm-vs-fapr"}