{"url":"https://etfiq.com/compare/buffer/cpsy-vs-zfeb","section":"compare","title":"CPSY vs ZFEB: which one stands where? | ETFIQ","description":"As of Oct 1, 2026 ZFEB can gain 2.4% before its cap and CPSY publishes no remaining cap. Each can fall 4.5% and 3.7% before its buffer engages, on SPY.","as_of":"Oct 1, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which resets first, CPSY or ZFEB?","acceptedAnswer":{"@type":"Answer","text":"CPSY ends its outcome period on Jan 1, 2027 and ZFEB on Jan 31, 2027. A new cap is set the day after each."}},{"@type":"Question","name":"Which is cheaper, CPSY or ZFEB?","acceptedAnswer":{"@type":"Answer","text":"CPSY charges 0.69% a year and ZFEB charges 0.79%, 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 ZFEB","item":"https://etfiq.com/compare/buffer/cpsy-vs-zfeb"}]},{"@type":"WebPage","name":"CPSY vs ZFEB: which one stands where?","description":"As of Oct 1, 2026 ZFEB can gain 2.4% before its cap and CPSY publishes no remaining cap. Each can fall 4.5% and 3.7% before its buffer engages, on SPY.","url":"https://etfiq.com/compare/buffer/cpsy-vs-zfeb","dateModified":"2026-10-01","abstract":"As of Oct 1, 2026 CPSY can fall 4.5% before its buffer engages and ZFEB 3.7%, and CPSY resets 31 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 ZFEB","description":"As of Oct 1, 2026 ZFEB can gain 2.4% before its cap and CPSY publishes no remaining cap. Each can fall 4.5% and 3.7% 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-zfeb","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":5481,"truncated":true,"content":"ETFIQ / Buffer ETFs / Head to head / CPSY vs ZFEB \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 1, 2026 .\n\n CPSY vs ZFEB: which one stands where?\n\n As of Oct 1, 2026 CPSY can fall 4.5% before its buffer engages and ZFEB 3.7%, and CPSY resets 31 days sooner.\n Copy this for sharing \n \n Calamos S&P 500 \u00ae Structured Alt Protection ETF - January and Innovator Equity Defined Protection ETF - 1 Yr February.\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 peri","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-zfeb","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":"ZFEB","name":"Innovator Equity Defined Protection ETF - 1 Yr February","issuer":"Innovator","desk":"buffer","as_of":"2026-10-01","verdict":"As of Oct 1, 2026, ZFEB has reached its cap.","url":"https://etfiq.com/funds/zfeb","key_facts":[{"label":"Past the cap, price drift left","value":"2.4%","as_of":"2026-10-01","source":null},{"label":"Fall before the buffer","value":"3.7%","as_of":"2026-10-01","source":null},{"label":"Protection left, index points","value":"100.0%","as_of":"2026-10-01","source":null},{"label":"Days to reset","value":"123","as_of":"2026-10-01","source":null},{"label":"Net assets","value":"$151m","as_of":"2026-10-01","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.79%","as_of":"2026-10-01","source":"issuer page, Oct 1, 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-zfeb"}