BUFX vs. CPSM
BUFX (FT Vest Laddered Enhance & Moderate Buffer ETF) and CPSM (Calamos S&P 500 Structured Alt Protection ETF - May) are both Defined Outcome funds. A 0.62 correlation means they provide meaningful diversification when combined. BUFX charges 0.96%/yr vs 0.69%/yr for CPSM.
Performance
BUFX vs. CPSM - Performance Comparison
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Returns By Period
In the year-to-date period, BUFX achieves a 4.10% return, which is significantly higher than CPSM's 2.27% return.
BUFX
- 1D
- -0.05%
- 1M
- 1.35%
- YTD
- 4.10%
- 6M
- 4.88%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPSM
- 1D
- -0.06%
- 1M
- 0.71%
- YTD
- 2.27%
- 6M
- 2.72%
- 1Y
- 5.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BUFX vs. CPSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF | 4.10% | 5.62% |
CPSM Calamos S&P 500 Structured Alt Protection ETF - May | 2.27% | 3.00% |
Correlation
The correlation between BUFX and CPSM is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.62 |
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Return for Risk
BUFX vs. CPSM — Risk / Return Rank
BUFX
CPSM
BUFX vs. CPSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX) and Calamos S&P 500 Structured Alt Protection ETF - May (CPSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BUFX | CPSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.68 | 1.54 | +1.14 |
Drawdowns
BUFX vs. CPSM - Drawdown Comparison
The maximum BUFX drawdown since its inception was -2.87%, smaller than the maximum CPSM drawdown of -5.19%. Use the drawdown chart below to compare losses from any high point for BUFX and CPSM.
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Drawdown Indicators
| BUFX | CPSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.87% | -5.19% | +2.32% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.06% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -0.20% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.10% | — |
Volatility
BUFX vs. CPSM - Volatility Comparison
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Volatility by Period
| BUFX | CPSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.35% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.14% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 1.57% | +2.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.98% | 5.10% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.98% | 5.10% | -1.12% |
BUFX vs. CPSM - Expense Ratio Comparison
BUFX has a 0.96% expense ratio, which is higher than CPSM's 0.69% expense ratio.
Dividends
BUFX vs. CPSM - Dividend Comparison
Neither BUFX nor CPSM has paid dividends to shareholders.
Frequently Asked Questions
BUFX and CPSM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CPSM is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CPSM is cheaper with a 0.69% expense ratio, compared with 0.96% for BUFX.
BUFX and CPSM have nearly identical dividend yields, around 0.00%.
They also come from different issuers: First Trust and Calamos. Their fees differ too: 0.96% for BUFX and 0.69% for CPSM.
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