---
ticker: "CPNS"
name: "Calamos Nasdaq-100 Structured Alt Protection ETF – September"
url: "https://etf.net/etf/CPNS"
grade: "A"
score: 75
graded_at: "2026-10-12"
category: "Other Floor Protected"
category_rank: "2 of 24"
methodology: "https://etf.net/methodology"
---

# CPNS: Calamos Nasdaq-100 Structured Alt Protection ETF – September

Grade **A**, Score 75 of 100. Rank 2 of 24 in Other Floor Protected.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 78 | 2 of 24 |
| Mission | 91 | 1 of 3 |
| Risk | 79 | 5 of 24 |
| Tradability | 70 | 4 of 24 |
| Holdings | Not scored | — |
| Durability | 60 | 10 of 24 |

## Top holdings

The fund holds 3 positions. These are the largest 3, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | INVESCO QQQ TRUST SERIES 1 (QQQ) Long Call Option | 102.71% |
| 2 | — | INVESCO QQQ TRUST SERIES 1 (QQQ) Long Put Option | 5.16% |
| 3 | — | Us Dollar | 0.76% |

Source: etf.net, https://etf.net/etf/CPNS. Please cite the page URL.