Data as of Nov 4, 2026.
CPST vs PBOC: Cap, Buffer & Days Left
As of Nov 4, 2026 PBOC can fall 1.2% before its buffer engages and CPST 0.6%, and CPST resets 30 days sooner.
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Net assets on Nov 4, 2026: $41m for Calamos S&P 500 Structured Alt Protection ETF - September and $64m for PGIM S&P 500 Buffer 20 ETF - October .
CPST: reference +0.7% since period start, fund +0.5%; buffer Floor; cap +8.1%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.PBOC: reference +0.6% since period start, fund +0.7%; buffer 0 to −20; cap +12.8%; Between buffer and cap. Data to Nov 4, 2026.
PBOC: reference +0.6% since period start, fund +0.7%; buffer 0 to −20; cap +12.8%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
PBOC costs 0.19 points a year less; their one-year returns differ by 4.8 points; PBOC is 1.6 times larger.
Points (pts) are percentage points.
| Measure | CPST | PBOC |
|---|---|---|
| Return | ||
| Total return, 1 year | +5.2% | +10.0% |
| Drawdown | ||
| Index fall to the buffer | 0.7% | 0.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.69% | 0.50% |
| Net assets | $41m | $64m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CPST | PBOC | CPST | PBOC |
| 3 months | +0.8% | +1.9% | +1.2 pts | +2.3 pts |
| 6 months | +2.3% | +4.7% | −2.1 pts | +0.2 pts |
| 1 year | +5.2% | +10.0% | −8.4 pts | −3.5 pts |
| Since launchNot the same days: CPST Sep 2024 · PBOC May 2024 | +14.1% | +26.4% | −24.8 pts | −18.4 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. CPST is a floor fund, which caps how far a holder can fall. PBOC is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
They do not reset together. CPST has 300 days of its period left and PBOC has 330, so the two are not the same bet on the same months.
Where each one stands today
CPST resets first, on Aug 31, 2027, 300 days from now; PBOC runs to Sep 30, 2027, 330 days. A fall from here reaches CPST’s buffer after 0.6% and PBOC’s after 1.2%. Both track SPY, so what separates them is where each is in its own period.
CPST
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 0.7% 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. 300 days remained on Nov 4, 2026. On Aug 31, 2027 the period ends and a new cap is set.
PBOC
From its price on Nov 4, 2026, the fund can gain about 11.6% more before it reaches its cap. The fund's price can fall 1.2% 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: 20.0% of the 20.0% 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.
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.
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ETFIQ, CPST against PBOC, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/cpst-vs-pboc
ETFIQ. (Nov 4, 2026). CPST against PBOC. Retrieved from https://etfiq.com/compare/buffer/cpst-vs-pboc
[CPST against PBOC (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/cpst-vs-pboc)
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