Which resets first, CPST or POCT?

CPST ends its outcome period on Sep 1, 2027 and POCT on Sep 30, 2027. A new cap is set the day after each.

Which is cheaper, CPST or POCT?

CPST charges 0.69% a year and POCT charges 0.79%, so CPST is cheaper. Fees come from each fund's prospectus.

CPST vs POCT: which one stands where?

As of Oct 1, 2026 CPST can fall 0.1% before its buffer engages and POCT 0.0%, and CPST resets 30 days sooner. Calamos S&P 500 ® Structured Alt Protection ETF - September and Innovator U.S. Equity Power Buffer ETF - Oct.

CPSTFull floor

CPST: reference +0.1% since period start, fund 0.0%; buffer −0 to floor; cap +8.0%; Full floor.

POCTBetween buffer and cap

POCT: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +15.6%; Between buffer and cap.

These are two different products. CPST is a floor fund, which caps how far a holder can fall. POCT 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 335 days of its period left and POCT has 365, so the two are not the same bet on the same months.

Where each one stands today

CPST resets first, on Sep 1, 2027, 335 days from now; POCT runs to Sep 30, 2027, 365 days. A fall from here reaches CPST’s buffer after 0.1% and POCT’s after 0.0%. 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	CPST	POCT	CPST	POCT
3 months	+1.0%	+3.2%	−1.5 pts	+0.7 pts
6 months	+3.9%	+10.6%	−13.0 pts	−6.4 pts
1 year	+5.2%	+11.1%	−10.5 pts	−4.6 pts
3 years	not published	+41.0%	not published	−44.0 pts

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

On the same fields

CPST

Calamos S&P 500 ® Structured Alt Protection ETF - September · Absorbs losses from 0.0% to 100.0% on SPY and caps the gain at 8.0%, over a period ending Sep 1, 2027

POCT

Innovator U.S. Equity Power Buffer ETF - Oct · Absorbs the first 15% of loss on SPY and caps the gain at 15.6%, over a period ending Sep 30, 2027

Issuer Calamos Innovator

Reference index SPY SPY

Buffer 0% to 100% 15%

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

Days left 335 365

Starting cap +8.0% +15.6%

Can still gain not published 15.6%

Fall before buffer 0.1% 0.0%

Protection left, index points 100.0% of 100.0% 15.0% of 15.0%

Index return this period +0.1% 0.0%

Fund return this period 0.0% 0.0%

State today Open Open

Expense ratio 0.69% 0.79%

Net assets $37m $952m

CPST and POCT on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CPST in plain words

The fund's price can fall 0.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.1% 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. 335 days remained on Oct 1, 2026. On Sep 1, 2027 the period ends and a new cap is set.

POCT in plain words

From its price on Oct 1, 2026, the fund can gain about 15.6% more before it reaches its cap. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 365 days remained on Oct 1, 2026. On Sep 30, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CPST or POCT?: CPST ends its outcome period on Sep 1, 2027 and POCT on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, CPST or POCT?: CPST charges 0.69% a year and POCT charges 0.79%, so CPST is cheaper. Fees come from each fund's prospectus.

Other comparisons

CPST vs XBOC CPST vs XSEP CPST vs ZALT CPST vs ZOCT POCT vs PQV POCT vs PQX POCT vs PQXV POCT vs PQXX

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

Where these figures came from

CPST filings on SEC EDGAR ↗Calamos website ↗POCT filings on SEC EDGAR ↗Innovator page for POCT ↗

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, CPST against POCT, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpst-vs-poct

Open data

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