CPSP vs MAYC: which one stands where?

As of Oct 1, 2026 MAYC can fall 5.8% before its buffer engages and CPSP 3.5%, and CPSP resets 30 days sooner. Calamos S&P 500 ® Structured Alt Protection ETF - April and Corgi U.S. Equities 10% Structured Buffer ETF - May Series.

CPSPAt its cap
At its capCPSP: reference +16.4% since period start, fund +3.3%; buffer −0 to floor; cap +6.4%; At its cap.full floor beneathfull floor−0.3% buffer start0% period start+6.4% capTODAY · SPY +16.4%At its capCPSP: reference +16.4% since period start, fund +3.3%; buffer −0 to floor; cap +6.4%; At its cap.full floor beneathfull floor−0.3% buffer start0% start+6.4% capTODAY · SPY +16.4%

CPSP: reference +16.4% since period start, fund +3.3%; buffer −0 to floor; cap +6.4%; At its cap.

MAYCBetween buffer and cap
Between buffer and capMAYC: reference +6.1% since period start, fund +5.1%; buffer 0 to −10; cap +13.5%; Between buffer and cap.10 pts−10.0% floor0% period start+13.5% capTODAY · SPY +6.1%Between buffer and capMAYC: reference +6.1% since period start, fund +5.1%; buffer 0 to −10; cap +13.5%; Between buffer and cap.−10.0% floor0% start+13.5% capTODAY · SPY +6.1%

MAYC: reference +6.1% since period start, fund +5.1%; buffer 0 to −10; cap +13.5%; Between buffer and cap.

These are two different products. CPSP is a floor fund, which caps how far a holder can fall. MAYC is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

CPSP is already at its cap, so more rise in the index adds nothing to it before the period ends.

They do not reset together. CPSP has 182 days of its period left and MAYC has 212, so the two are not the same bet on the same months.

Where each one stands today

CPSP resets first, on Apr 1, 2027, 182 days from now; MAYC runs to Apr 30, 2027, 212 days. A fall from here reaches CPSP’s buffer after 3.5% and MAYC’s after 5.8%. 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 returnGap to the reference
WindowCPSPMAYCCPSPMAYC
3 months+1.3%+1.8%−1.2 pts−0.7 pts
6 months+3.0%not published−13.9 ptsnot published
1 year+5.9%not published−9.8 ptsnot published

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

On the same fields

CPSP
Calamos S&P 500 ® Structured Alt Protection ETF - April · Absorbs losses from 0.3% to 100.0% on SPY and caps the gain at 6.4%, over a period ending Apr 1, 2027
MAYC
Corgi U.S. Equities 10% Structured Buffer ETF - May Series · Absorbs the first 10% of loss on SPY and caps the gain at 13.5%, over a period ending Apr 30, 2027
Issuer Calamos Corgi
Reference index SPY SPY
Buffer 0% to 100% 10%
Outcome period Apr 1, 2026 to Apr 1, 2027 May 1, 2026 to Apr 30, 2027
Days left 182 212
Starting cap +6.4% +13.5%
Can still gain not published not published
Fall before buffer 3.5% 5.8%
Protection left, index points 99.7% of 99.7% 10.0% of 10.0%
Index return this period +16.4% +6.1%
Fund return this period +3.3% +5.1%
State today At cap Open
Expense ratio 0.69% 0.30%
Net assets $24m $2m

CPSP and MAYC on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CPSP in plain words

SPY had already risen past this fund's cap of +6.4% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's price can fall 3.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 14.3% from today's level to the point where the buffer begins. Protection left, in index points: 99.7% of the 99.7% buffer still sits below today's SPY level. 182 days remained on Oct 1, 2026. On Apr 1, 2027 the period ends and a new cap is set.

MAYC in plain words

The fund's price can fall 5.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.8% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 212 days remained on Oct 1, 2026. On Apr 30, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPSP or MAYC?
CPSP ends its outcome period on Apr 1, 2027 and MAYC on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, CPSP or MAYC?
CPSP charges 0.69% a year and MAYC charges 0.30%, so MAYC 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. A comparison is not a recommendation.

Cite this page

ETFIQ, CPSP against MAYC, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpsp-vs-mayc

Open data

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