Data as of Nov 4, 2026.
CPSU vs XMAY: Cap, Buffer & Days Left
As of Nov 4, 2026 XMAY can fall 4.6% before its buffer engages and CPSU 1.6%, and XMAY resets 7 days sooner.
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Net assets: $30m on Nov 4, 2026 for Calamos S&P 500 Structured Alt Protection ETF - June, and $19m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May.
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.XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.
XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
CPSU costs 0.16 points a year less; their one-year returns differ by 3.3 points; CPSU is 1.5 times larger.
Points (pts) are percentage points.
| Measure | CPSU | XMAY |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.7% | +8.0% |
| Drawdown | ||
| Index fall to the buffer | 1.1% | 3.6% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.69% | 0.85% |
| Net assets, as of Nov 3, 2026 | $29m | $19m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CPSU | XMAY | CPSU | XMAY |
| 3 months | +0.6% | +1.3% | +1.0 pts | +1.7 pts |
| 6 months | +1.7% | +3.9% | −2.8 pts | −0.6 pts |
| 1 year | +4.7% | +8.0% | −8.9 pts | −5.5 pts |
| Since launchNot the same days: CPSU Jun 2025 · XMAY May 2024 | +7.9% | +25.1% | −21.4 pts | −19.6 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. XMAY 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
XMAY resets first, on May 21, 2027, 198 days from now; CPSU runs to May 28, 2027, 205 days. A fall from here reaches CPSU’s buffer after 1.6% and XMAY’s after 4.6%. 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.
XMAY
From its price on Nov 4, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 4.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% 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. 198 days remained on Nov 4, 2026. On May 21, 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, CPSU against XMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/cpsu-vs-xmay
ETFIQ. (Nov 4, 2026). CPSU against XMAY. Retrieved from https://etfiq.com/compare/buffer/cpsu-vs-xmay
[CPSU against XMAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/cpsu-vs-xmay)
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