Data as of Nov 4, 2026.
CPSU vs JNEU: Cap, Buffer & Days Left
As of Nov 4, 2026 CPSU can fall 1.6% before its buffer engages and JNEU 0.9%, and CPSU resets 3 days sooner.
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Net assets: $30m on Nov 4, 2026 for Calamos S&P 500 Structured Alt Protection ETF - June, and $42m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jun.
CPSU: reference +1.1% since period start, fund +1.4%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.JNEU: reference +1.4% since period start, fund +0.2%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
JNEU: reference +1.4% since period start, fund +0.2%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.Pair scorecard
CPSU costs 0.05 points a year less; their one-year returns differ by 6.2 points; JNEU is 1.4 times larger.
Points (pts) are percentage points.
| Measure | CPSU | JNEU |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.7% | +10.9% |
| Drawdown | ||
| Index fall to the buffer | 1.1% | 1.3% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.69% | 0.74% |
| Net assets, as of Nov 3, 2026 | $29m | $42m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CPSU | JNEU | CPSU | JNEU |
| 3 months | +0.6% | −0.9% | +1.0 pts | −0.5 pts |
| 6 months | +1.7% | +3.2% | −2.8 pts | −1.3 pts |
| 1 year | +4.7% | +10.9% | −8.9 pts | −2.7 pts |
| Since launchNot the same days: CPSU Jun 2025 · JNEU Jun 2024 | +7.9% | +34.1% | −21.4 pts | −11.2 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. CPSU is a floor fund, which caps how far a holder can fall. JNEU is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
CPSU resets first, on May 28, 2027, 205 days from now; JNEU runs to May 31, 2027, 208 days. A fall from here reaches CPSU’s buffer after 1.6% and JNEU’s after 0.9%. Both track SPY, so what separates them is where each is in its own period.
CPSU
The fund's price can fall 1.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.1% 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. 205 days remained on Nov 4, 2026. On May 28, 2027 the period ends and a new cap is set.
JNEU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 0.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.3% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and new terms are 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, CPSU against JNEU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/cpsu-vs-jneu
ETFIQ. (Nov 4, 2026). CPSU against JNEU. Retrieved from https://etfiq.com/compare/buffer/cpsu-vs-jneu
[CPSU against JNEU (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/cpsu-vs-jneu)
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