---
ticker: "CPRA"
name: "Calamos Russell 2000 Structured Alt Protection ETF – April"
url: "https://etf.net/etf/CPRA"
grade: "C"
score: 52
graded_at: "2026-10-12"
category: "Russell 2000 Option Income"
category_rank: "6 of 9"
methodology: "https://etf.net/methodology"
---

# CPRA: Calamos Russell 2000 Structured Alt Protection ETF – April

Grade **C**, Score 52 of 100. Rank 6 of 9 in Russell 2000 Option Income.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 62 | 4 of 9 |
| Mission | Not scored | — |
| Risk | 91 | 1 of 9 |
| Tradability | 7 | 9 of 9 |
| Holdings | Not scored | — |
| Durability | 16 | 9 of 9 |

## Top holdings

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

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | iShares Russell 2000 ETF (IWM) Long Call Option | 107.23% |
| 2 | — | iShares Russell 2000 ETF (IWM) Long Put Option | 1.84% |
| 3 | — | Us Dollar | 0.43% |

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