Which resets first, CPSM or MAYM?

CPSM ends its outcome period on May 1, 2027 and MAYM on May 21, 2027. A new cap is set the day after each.

Which is cheaper, CPSM or MAYM?

CPSM charges 0.69% a year and MAYM charges 0.85%, so CPSM is cheaper. Fees come from each fund's prospectus.

CPSM vs MAYM: which one stands where?

As of Oct 1, 2026 MAYM can fall 2.2% before its buffer engages and CPSM 2.1%, and CPSM resets 21 days sooner. Calamos S&P 500 ® Structured Alt Protection ETF - May and FT Vest U.S. Equity Max Buffer ETF - May.

CPSMFull floor

CPSM: reference +5.8% since period start, fund +1.9%; buffer −0 to floor; cap +6.5%; Full floor.

MAYMFull floor

MAYM: reference +3.1% since period start, fund +1.3%; buffer Floor; cap +7.0%; Full floor.

Where each one stands today

CPSM resets first, on May 1, 2027, 212 days from now; MAYM runs to May 21, 2027, 233 days. A fall from here reaches CPSM’s buffer after 2.1% and MAYM’s after 2.2%. 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	CPSM	MAYM	CPSM	MAYM
3 months	+1.2%	+1.1%	−1.4 pts	−1.4 pts
6 months	+2.4%	+2.9%	−14.6 pts	−14.1 pts
1 year	+4.6%	+4.7%	−11.1 pts	−11.1 pts

CPSM and MAYM over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CPSM

Calamos S&P 500 ® Structured Alt Protection ETF - May · Absorbs losses from 0.2% to 100.0% on SPY and caps the gain at 6.5%, over a period ending May 1, 2027

MAYM

FT Vest U.S. Equity Max Buffer ETF - May · Absorbs the whole loss on SPY and caps the gain at 7.0%, over a period ending May 21, 2027

Issuer Calamos First Trust

Reference index SPY SPY

Buffer 0% to 100% 100%

Outcome period May 1, 2026 to May 1, 2027 May 18, 2026 to May 21, 2027

Days left 212 233

Starting cap +6.5% +7.0%

Can still gain not published 4.8%

Fall before buffer 2.1% 2.2%

Protection left, index points 99.8% of 99.8% 100.0% of 100.0%

Index return this period +5.8% +3.1%

Fund return this period +1.9% +1.3%

State today Open Open

Expense ratio 0.69% 0.85%

Net assets $59m $39m

CPSM and MAYM on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CPSM in plain words

The fund's price can fall 2.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.7% from today's level to the point where the buffer begins. Protection left, in index points: 99.8% of the 99.8% buffer still sits below today's SPY level. 212 days remained on Oct 1, 2026. On May 1, 2027 the period ends and a new cap is set.

MAYM in plain words

From its price on Oct 1, 2026, the fund can gain about 4.8% more before it reaches its cap. The fund's price can fall 2.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.1% 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. 233 days remained on Oct 1, 2026. On May 21, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPSM or MAYM?: CPSM ends its outcome period on May 1, 2027 and MAYM on May 21, 2027. A new cap is set the day after each.
Which is cheaper, CPSM or MAYM?: CPSM charges 0.69% a year and MAYM charges 0.85%, so CPSM is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSM vs FAPR CPSM vs FMAY CPSM vs GAPR CPSM vs GMAY MAYM vs PBJN MAYM vs PMJN MAYM vs UJUN MAYM vs XMAY

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

Where these figures came from

CPSM filings on SEC EDGAR ↗Calamos website ↗MAYM filings on SEC EDGAR ↗First Trust page for MAYM ↗

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, CPSM against MAYM, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpsm-vs-maym

Open data

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