Which resets first, CPSO or PMOC?

CPSO ends its outcome period on Sep 30, 2027 and PMOC on Sep 30, 2027. A new cap is set the day after each.

Which is cheaper, CPSO or PMOC?

CPSO charges 0.69% a year and PMOC charges 0.50%, so PMOC is cheaper. Fees come from each fund's prospectus.

CPSO vs PMOC: which one stands where?

As of Oct 2, 2026 PMOC can fall 0.8% before its buffer engages and CPSO 0.3%. Calamos S&P 500 ® Structured Alt Protection ETF - October and PGIM S&P 500 Max Buffer ETF - October.

PMOC costs 0.19 points a year less; their one-year returns differ by 0.3 points; CPSO is 5.9 times larger.

	CPSO	PMOC
Expense ratio	0.69%	0.50%
Net assets	$28m	$5m
Total return, 1 year	+5.9%	+6.2%
What it tracks	SPY	SPY
Holdings in common	not published

CPSOFull floor

CPSO: reference +0.7% since period start, fund +0.3%; buffer Floor; cap +8.8%; Full floor.

PMOCFull floor

PMOC: reference +0.9% since period start, fund +0.3%; buffer Floor; cap +8.7%; Full floor.

Where each one stands today

CPSO resets first, on Sep 30, 2027, 363 days from now; PMOC runs to Sep 30, 2027, 363 days. A fall from here reaches CPSO’s buffer after 0.3% and PMOC’s after 0.8%. 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	CPSO	PMOC	CPSO	PMOC
3 months	+2.0%	+2.1%	−1.6 pts	−1.5 pts
6 months	+5.0%	+5.2%	−12.9 pts	−12.7 pts
1 year	+5.9%	+6.2%	−10.4 pts	−10.0 pts

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

On the same fields

CPSO

Calamos S&P 500 ® Structured Alt Protection ETF - October · Absorbs the whole loss on SPY and caps the gain at 8.8%, over a period ending Sep 30, 2027

PMOC

PGIM S&P 500 Max Buffer ETF - October · Absorbs the whole loss on SPY and caps the gain at 8.7%, over a period ending Sep 30, 2027

Issuer Calamos PGIM

Reference index SPY SPY

Buffer 0% to 100% 100%

Outcome period Oct 1, 2026 to Sep 30, 2027 Oct 1, 2026 to Sep 30, 2027

Days left 363 363

Starting cap +8.8% +8.7%

Can still gain not published 7.8%

Fall before buffer 0.3% 0.8%

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

Index return this period +0.7% +0.9%

Fund return this period +0.3% +0.3%

State today Open Open

Expense ratio 0.69% 0.50%

Net assets $28m $5m

CPSO and PMOC on the same fields, as of Oct 2, 2026. Source: ETFIQ.

CPSO in plain words

The fund's price can fall 0.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.7% 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. 363 days remained on Oct 2, 2026. On Sep 30, 2027 the period ends and a new cap is set.

PMOC in plain words

From its price on Oct 2, 2026, the fund can gain about 7.8% more before it reaches its cap. The fund's price can fall 0.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.9% from today's level to the point where the buffer begins.

Questions people ask

Which resets first, CPSO or PMOC?: CPSO ends its outcome period on Sep 30, 2027 and PMOC on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, CPSO or PMOC?: CPSO charges 0.69% a year and PMOC charges 0.50%, so PMOC is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPSO vs FOCT CPSO vs FSEP CPSO vs GOCT CPSO vs GSEP PMOC vs DDSQ PMOC vs DSEP PMOC vs EALT PMOC vs POCT

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

Where these figures came from

CPSO filings on SEC EDGAR ↗Calamos website ↗PMOC filings on SEC EDGAR ↗PGIM website ↗

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, CPSO against PMOC, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/cpso-vs-pmoc

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.