Data as of Nov 4, 2026.
CPSO vs OCTU: Cap, Buffer & Days Left
As of Nov 4, 2026 OCTU can fall 1.0% before its buffer engages and CPSO 0.6%.
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Net assets: $34m on Nov 4, 2026 for Calamos S&P 500 Structured Alt Protection ETF - October, and $60m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Oct.
CPSO: reference +0.4% since period start, fund +0.6%; buffer Floor; cap +8.8%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.OCTU: reference +0.5% since period start, fund +0.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
OCTU: reference +0.5% since period start, fund +0.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.Pair scorecard
CPSO costs 0.05 points a year less; their one-year returns differ by 3.0 points; OCTU is 1.8 times larger.
Points (pts) are percentage points.
| Measure | CPSO | OCTU |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.1% | +9.1% |
| Drawdown | ||
| Index fall to the buffer | 0.4% | 0.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.69% | 0.74% |
| Net assets, as of Nov 3, 2026 | $34m | $60m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CPSO | OCTU | CPSO | OCTU |
| 3 months | +1.4% | −1.1% | +1.8 pts | −0.7 pts |
| 6 months | +3.1% | +2.8% | −1.3 pts | −1.7 pts |
| 1 year | +6.1% | +9.1% | −7.5 pts | −4.5 pts |
| Since launchCPSO Oct 2024 · OCTU Oct 2024 | +12.7% | +24.2% | −22.1 pts | −10.7 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. CPSO is a floor fund, which caps how far a holder can fall. OCTU 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
CPSO resets first, on Sep 30, 2027, 330 days from now; OCTU runs to Sep 30, 2027, 330 days. A fall from here reaches CPSO’s buffer after 0.6% and OCTU’s after 1.0%. Both track SPY, so what separates them is where each is in its own period.
CPSO
The fund's price can fall 0.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.4% 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. 330 days remained on Nov 4, 2026. On Sep 30, 2027 the period ends and a new cap is set.
OCTU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 1.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. On Sep 30, 2027 the period ends and new terms are set.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, CPSO against OCTU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/cpso-vs-octu
ETFIQ. (Nov 4, 2026). CPSO against OCTU. Retrieved from https://etfiq.com/compare/buffer/cpso-vs-octu
[CPSO against OCTU (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/cpso-vs-octu)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.