# CPSY (Calamos S&P 500 ® Structured Alt Protection ETF - January)

Calamos · Buffer ETFs · data as of Sep 12, 2026

As of Sep 12, 2026, CPSY has reached its cap.

## Key facts

- CPSY, fall before the buffer: 4.1%, as of Sep 12, 2026.
- CPSY, protection left, index points: 99.5%, as of Sep 12, 2026.
- CPSY, days to reset: 111, as of Sep 12, 2026.
- CPSY, net assets: $26m (source, as filed for Apr 30, 2026).
- CPSY, expense ratio: 0.69% (issuer page, Sep 12, 2026).
- CPSY, reference index: SPY, as of Sep 12, 2026.

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 0% to 100% | ETFIQ |
| Outcome period | Jan 2, 2026 to Jan 1, 2027 | ETFIQ |
| Starting cap | +5.9% | ETFIQ |
| SPY return since period start | +11.9% | ETFIQ |
| Fund return since period start | +3.8% | ETFIQ |
| Net assets | $26m | source, as filed for Apr 30, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | not published | issuer, fund price |
| Fall before buffer | 4.1% | issuer, fund price |
| Fall to the buffer in index terms | 11.0% | ETFIQ |
| Protection left in index points | 99.5% of 99.5% | ETFIQ |
| Days left in period | 111 | ETFIQ |
| Expense ratio | 0.69% | issuer page, Sep 12, 2026 |

## Questions

### How much can CPSY still gain?

Nothing more in index terms on Sep 12, 2026. SPY has already passed the cap of +5.9% for this period, which runs from Jan 2, 2026 to Jan 1, 2027.

### How far can CPSY fall before the buffer helps?

4.1% in fund-price terms on Sep 12, 2026, by the issuer's figure. In index terms SPY can fall 11.0% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the CPSY buffer is left?

99.5% of the 99.5% buffer sat below the SPY level on Sep 12, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does CPSY reset?

The outcome period ends on Jan 1, 2027, 111 days from the data on Sep 12, 2026. A new cap is set the next day and the buffer starts again.

### What does CPSY cost?

The prospectus expense ratio is 0.69% a year.


## Cite this page

ETFIQ, CPSY, data as of Sep 12, 2026. https://etfiq.com/funds/CPSY
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/CPSY  ·  JSON: https://etfiq.com/funds/CPSY.json