{"url":"https://etfiq.com/compare/buffer/cpsy-vs-febt","section":"compare","title":"CPSY vs FEBT: which one stands where? | ETFIQ","description":"As of Oct 1, 2026 FEBT can gain 5.9% before its cap and CPSY publishes no remaining cap. Each can fall 4.5% and 8.5% before its buffer engages, on SPY.","as_of":"Oct 1, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which resets first, CPSY or FEBT?","acceptedAnswer":{"@type":"Answer","text":"CPSY ends its outcome period on Jan 1, 2027 and FEBT on Jan 31, 2027. A new cap is set the day after each."}},{"@type":"Question","name":"Which is cheaper, CPSY or FEBT?","acceptedAnswer":{"@type":"Answer","text":"CPSY charges 0.69% a year and FEBT charges 0.74%, so CPSY is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Buffer ETFs","item":"https://etfiq.com/buffer/"},{"@type":"ListItem","position":3,"name":"CPSY vs FEBT","item":"https://etfiq.com/compare/buffer/cpsy-vs-febt"}]},{"@type":"WebPage","name":"CPSY vs FEBT: which one stands where?","description":"As of Oct 1, 2026 FEBT can gain 5.9% before its cap and CPSY publishes no remaining cap. Each can fall 4.5% and 8.5% before its buffer engages, on SPY.","url":"https://etfiq.com/compare/buffer/cpsy-vs-febt","dateModified":"2026-10-01","abstract":"As of Oct 1, 2026 FEBT can fall 8.5% before its buffer engages and CPSY 4.5%, and CPSY resets 29 days sooner.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of CPSY and FEBT","description":"As of Oct 1, 2026 FEBT can gain 5.9% before its cap and CPSY publishes no remaining cap. Each can fall 4.5% and 8.5% before its buffer engages, on SPY.","dateModified":"2026-10-01","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/buffer/cpsy-vs-febt","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/funds.json"}],"variableMeasured":["Remaining cap","Fall before the buffer engages","Protection left in index points","Starting buffer","Outcome period","Reference index return","Fund return","Days remaining","Expense ratio"],"keywords":["exchange-traded funds","ETF","Buffer ETFs","fund data","SEC filings"]}],"characters":5519,"truncated":true,"content":"ETFIQ / Buffer ETFs / Head to head / CPSY vs FEBT \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 1, 2026 .\n\n CPSY vs FEBT: which one stands where?\n\n As of Oct 1, 2026 FEBT can fall 8.5% before its buffer engages and CPSY 4.5%, and CPSY resets 29 days sooner.\n Copy this for sharing \n \n Calamos S&P 500 \u00ae Structured Alt Protection ETF - January and AllianzIM U.S. Equity Buffer10 ETF - Feb.\n\n Download as PDF \n\n CPSY At its cap [CPSY: reference +11.6% since period start, fund +4.2%; buffer \u22121 to floor; cap +5.9%; At its cap.. At its cap] [CPSY: reference +11.6% since period start, fund ","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Oct 1, 2026. https://etfiq.com/compare/buffer/cpsy-vs-febt","a":{"ticker":"CPSY","name":"Calamos S&P 500 \u00ae Structured Alt Protection ETF - January","issuer":"Calamos","desk":"buffer","as_of":"2026-10-01","verdict":"As of Oct 1, 2026, CPSY has reached its cap.","url":"https://etfiq.com/funds/cpsy","key_facts":[{"label":"Fall before the buffer","value":"4.5%","as_of":"2026-10-01","source":null},{"label":"Protection left, index points","value":"99.5%","as_of":"2026-10-01","source":null},{"label":"Days to reset","value":"92","as_of":"2026-10-01","source":null},{"label":"Net assets","value":"$29m","as_of":"2026-10-01","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.69%","as_of":"2026-10-01","source":"issuer page, Oct 1, 2026"},{"label":"Reference index","value":"SPY","as_of":"2026-10-01","source":null}]},"b":{"ticker":"FEBT","name":"AllianzIM U.S. Equity Buffer10 ETF - Feb","issuer":"AllianzIM","desk":"buffer","as_of":"2026-09-30","verdict":"As of Sep 30, 2026, FEBT is between its buffer and cap, with SPY up 10.2% since the period began.","url":"https://etfiq.com/funds/febt","key_facts":[{"label":"Can still gain","value":"5.9%","as_of":"2026-09-30","source":null},{"label":"Fall before the buffer","value":"8.5%","as_of":"2026-09-30","source":null},{"label":"Protection left, index points","value":"10.0%","as_of":"2026-09-30","source":null},{"label":"Days to reset","value":"121","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$161m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.74%","as_of":"2026-09-30","source":"issuer page, Sep 30, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/buffer/cpsy-vs-febt"}