Data as of .
CPSY vs DDTF: which one stands where?
As of Sep 19, 2026 DDTF can fall 7.5% before its buffer engages and CPSY 4.1%, and CPSY resets 31 days sooner.
These are two different products. CPSY is a floor fund, which caps how far a holder can fall. DDTF 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. CPSY has 104 days of its period left and DDTF has 135, so the two are not the same bet on the same months.
Where each one stands today
CPSY resets first, on Jan 1, 2027, 104 days from now; DDTF runs to Jan 31, 2027, 135 days. A fall from here reaches CPSY’s buffer after 4.1% and DDTF’s after 7.5%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| CPSY | DDTF | CPSY | DDTF | |
| 3 months | +1.4% | +2.3% | −0.8 pts | 0.0 pts |
| 6 months | +4.2% | +11.2% | −13.8 pts | −6.8 pts |
| 1 year | +5.7% | not published | −10.8 pts | not published |
| CPSY Calamos S&P 500 ® Structured Alt Protection ETF - January Absorbs losses from 0.5% to 100.0% on SPY and caps the gain at 5.9%, over a period ending Jan 1, 2027 | DDTF Innovator Equity Dual Directional 10 Buffer ETF - Feb Absorbs the first 10% of loss on SPY and caps the gain at 13.2%, over a period ending Jan 31, 2027 | |
|---|---|---|
| Issuer | Calamos | Innovator |
| Reference index | SPY | SPY |
| Buffer | 0% to 100% | 10% |
| Outcome period | Jan 2, 2026 to Jan 1, 2027 | Jan 31, 2026 to Jan 31, 2027 |
| Days left | 104 | 135 |
| Starting cap | +5.9% | +13.2% |
| Can still gain | not published | 4.8% |
| Fall before buffer | 4.1% | 7.5% |
| Protection left, index points | 99.5% of 99.5% | 10.0% of 10.0% |
| Index return this period | +11.5% | +10.1% |
| Fund return this period | +3.8% | +7.6% |
| State today | At cap | Open |
| Expense ratio | 0.69% | 0.79% |
| Net assets | $29m | $18m |
CPSY in plain words
SPY had already risen past this fund's cap of +5.9% for the period on Sep 19, 2026, so in index terms there is no more upside to collect. The fund's price can fall 4.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.7% from today's level to the point where the buffer begins. Protection left, in index points: 99.5% of the 99.5% buffer still sits below today's SPY level. 104 days remained on Sep 19, 2026. On Jan 1, 2027 the period ends and a new cap is set.
DDTF in plain words
From its price on Sep 19, 2026, the fund can gain about 4.8% more before it reaches its cap. The fund's price can fall 7.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 9.1% 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. 135 days remained on Sep 19, 2026. On Jan 31, 2027 the period ends and a new cap is set.
Questions people ask
- Which resets first, CPSY or DDTF?
- CPSY ends its outcome period on Jan 1, 2027 and DDTF on Jan 31, 2027. A new cap is set the day after each.
- Which is cheaper, CPSY or DDTF?
- CPSY charges 0.69% a year and DDTF charges 0.79%, so CPSY is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CPSY against DDTF, data as of Sep 19, 2026. https://etfiq.com/compare/buffer/cpsy-vs-ddtf Free to use with attribution; the underlying files are at Open data.