Data as of .
CPSN vs DHDG: which one stands where?
As of Sep 21, 2026 CPSN can fall 5.7% before its buffer engages and DHDG 5.3%, and DHDG resets 14 days sooner.
These are two different products. CPSN is a floor fund, which caps how far a holder can fall. DHDG is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
DHDG resets first, on Oct 16, 2026, 25 days from now; CPSN runs to Oct 30, 2026, 39 days. A fall from here reaches CPSN’s buffer after 5.7% and DHDG’s after 5.3%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| CPSN | DHDG | CPSN | DHDG | |
| 3 months | +1.8% | +3.3% | −0.4 pts | +1.1 pts |
| 6 months | +5.2% | +11.9% | −12.9 pts | −6.1 pts |
| 1 year | +6.1% | +14.5% | −10.5 pts | −2.0 pts |
| 3 years | +5533.2% | not published | +5412.4 pts | not published |
| CPSN Calamos S&P 500 ® Structured Alt Protection ETF - November Absorbs losses from 0.6% to 100.0% on SPY and caps the gain at 6.2%, over a period ending Oct 30, 2026 | DHDG FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF Absorbs losses from 2.5% to 15.0% on SPY and caps the gain at 4.3%, over a period ending Oct 16, 2026 | |
|---|---|---|
| Issuer | Calamos | First Trust |
| Reference index | SPY | SPY |
| Buffer | 1% to 100% | 2% to 15% |
| Outcome period | Nov 3, 2025 to Oct 30, 2026 | Jul 20, 2026 to Oct 16, 2026 |
| Days left | 39 | 25 |
| Starting cap | +6.2% | +4.3% |
| Can still gain | not published | 1.3% |
| Fall before buffer | 5.7% | 5.3% |
| Protection left, index points | 99.4% of 99.4% | 12.5% of 12.5% |
| Index return this period | +11.5% | +4.1% |
| Fund return this period | +5.5% | +2.8% |
| State today | At cap | Open |
| Expense ratio | 0.69% | 0.85% |
| Net assets | $34m | $76m |
CPSN in plain words
SPY had already risen past this fund's cap of +6.2% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.8% from today's level to the point where the buffer begins. Protection left, in index points: 99.4% of the 99.4% buffer still sits below today's SPY level. 39 days remained on Sep 21, 2026. On Oct 30, 2026 the period ends and a new cap is set.
DHDG in plain words
From its price on Sep 21, 2026, the fund can gain about 1.3% more before it reaches its cap. The fund's price can fall 5.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 6.3% from today's level to the point where the buffer begins. Protection left, in index points: 12.5% of the 12.5% buffer still sits below today's SPY level. 25 days remained on Sep 21, 2026. On Oct 16, 2026 the period ends and a new cap is set.
Questions people ask
- Which resets first, CPSN or DHDG?
- CPSN ends its outcome period on Oct 30, 2026 and DHDG on Oct 16, 2026. A new cap is set the day after each.
- Which is cheaper, CPSN or DHDG?
- CPSN charges 0.69% a year and DHDG charges 0.85%, so CPSN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CPSN against DHDG, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/cpsn-vs-dhdg Free to use with attribution; the underlying files are at Open data.