CPSP vs SIXO: Cap, Buffer & Days Left
As of Oct 9, 2026 CPSP can fall 3.8% before its buffer engages and SIXO 1.5%. Net assets on Oct 9, 2026: $24m for Calamos S&P 500 ® Structured Alt Protection ETF - April and $120m for AllianzIM U.S. Equity Buffer10 ETF - Apr.
CPSP costs 0.05 points a year less; their one-year returns differ by 2.5 points; SIXO is 5.0 times larger.
Points (pts) are percentage points.
| CPSP | SIXO | |
|---|---|---|
| Expense ratio | 0.69% | 0.74% |
| Net assets | $24m | $120m |
| Total return, 1 year | +6.1% | +8.6% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 15.8% | 2.0% |
CPSP: reference +18.8% since period start, fund +3.6%; buffer Floor; cap +6.7%; At its cap. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
SIXO: reference +2.1% since period start, fund +1.1%; buffer 0 to −10; cap +7.7%; Between buffer and cap. Figures to Oct 9, 2026.
SIXO: reference +2.1% since period start, fund +1.1%; buffer 0 to −10; cap +7.7%; Between buffer and cap. Figures to Oct 9, 2026.
These are two different products. CPSP is a floor fund, which caps how far a holder can fall. SIXO 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.
Where each one stands today
CPSP resets first, on Mar 31, 2027, 173 days from now; SIXO runs to Mar 31, 2027, 173 days. A fall from here reaches CPSP’s buffer after 3.8% and SIXO’s after 1.5%. Both track SPY, so what separates them is where each is in its own period.
Performance, window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CPSP | SIXO | CPSP | SIXO |
| 3 months | +1.4% | +2.6% | −1.8 pts | −0.5 pts |
| 6 months | +2.8% | +7.0% | −11.8 pts | −7.6 pts |
| 1 year | +6.1% | +8.6% | −9.9 pts | −7.4 pts |
| 3 years | not published | +34.4% | not published | −44.8 pts |
| Since launch Not the same days: CPSP Apr 2025 · SIXO Oct 2021 | +10.6% | +47.1% | −28.2 pts | −32.2 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
About CPSP
SPY had already risen past this fund's cap of +6.7% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's price can fall 3.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.8% 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. 173 days remained on Oct 9, 2026. On Mar 31, 2027 the period ends and a new cap is set.
About SIXO
From its price on Oct 9, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 1.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.0% 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.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every figure 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 figure is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, CPSP against SIXO, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cpsp-vs-sixo
ETFIQ. (Oct 9, 2026). CPSP against SIXO. Retrieved from https://etfiq.com/compare/buffer/cpsp-vs-sixo
[CPSP against SIXO (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/cpsp-vs-sixo)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.