Calamos Russell 2000 Structured Alt Protection ETF – October
$28.58+0.01 (+0.02%)
- Expense ratio
- 0.69%
- Fund size
- $26M
- 1Y return
- +7.6%
- Yield · Last 12 months
- —
- Holdings
- 5
- Volume · 30D
- 0M sh
- NAV per share
- $28.57
- 52W range
The ETF.net CPRO Grade
Score 75 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 78Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 87Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 62Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 63Category rank
Our read on CPRO
ASmall-cap exposure without small-cap drawdowns: CPRO tracks the Russell 2000 and aims to shield 100% of capital across each one-year outcome period, trading away upside above a preset cap.
The ETF seeks to provide Russell 2000 exposure with defined upside participation while protecting 100% of capital from losses over the one-year outcome period.
Why people hold it
- Full armor, not a partial buffer: the design targets 100% downside protection over the one-year outcome period, versus the 9% or 15% slices typical of buffer funds.calamos.com
- At 0.69%, it undercuts the typical fee in its downside-protection peer group, including RFLR, the other fund built on the same Russell 2000 floor idea.
- Calamos brought the first 100% one-year protected Russell 2000 ETF to market, and CPRO is the October vintage; CPRY and CPRJ start their years in January and July.calamos.comprnewswire.com
- A plain 1940 Act ETF you trade in a brokerage account, not a structured note bought through a bank.calamos.com
Worth knowing
- The cap is the price of the floor. It resets each October, applies before the 0.69% fee, and a big small-cap year gets trimmed to that ceiling.calamos.com
- The math is built around holding the full October-to-September period. Buy mid-period and you inherit whatever cap and protection level remain.calamos.com
- Small and thinly traded, so use limit orders. The options structure also isn't designed to produce an income stream.
CPRO Holdings
- Stocks
- 5
- 110%
- iShares Russell 2000 ETF (IWM) Long Call Option
CPRO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CPRO |
|---|---|
| Year to date | +6.0% |
| 1 month | +0.5% |
| 3 months | +1.6% |
| 1 year | +7.6% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CPRO |
|---|---|---|
| 2026 YTD | +6.0% | |
| 2025 | +8.4% | |
| 2024 | +0.6% |
CPRO in the news
ETF.net Research hasn’t filed on CPRO yet — coverage lands here as it’s written.
CPRO Dividends
No distributions in the last 12 months.
CPRO Risk
- 3.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.95
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −3.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.21
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CPRO Cost
- The middle half of Other Floor Protected funds
- Median 0.79%
1 of the 18 Other Floor Protected funds charge less.