Calamos Russell 2000 Structured Alt Protection ETF – October
$28.64−0.01 (−0.04%)
- 0.69%
- $25M
- +7.3%
- 0M sh
- $28.77
- low $26.54high $28.79
The ETF.net CPRO Grade
A
Score 76 out of 100
- 1 of 24
Score 76 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A78 out of 100Rank 2 of 24Mission
Whether the fund did what it promised, tested against its stated mandate.A88 out of 100Rank 2 of 3Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A85 out of 100Rank 3 of 24Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A70 out of 100Rank 4 of 24Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B63 out of 100Rank 9 of 24
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
- 3
- 105%
- 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.
Not enough history yet.Not enough history yet.Not enough history yet.
CPRO$10,730
Returns run to the Oct 12, 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 | +6.3% |
| 1 month | +0.5% |
| 3 months | +1.6% |
| 1 year | +7.3% |
| 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 | +6.3% | |
| 2025 | +8.4% | |
| 2024 | +0.6% |
CPRO in the news
Category Review
Index option income was not one bet this year
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.
- 0.94
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
0.69%
CPRO0.69%
- The middle half of Other Floor Protected funds
- Median 0.79%
1 of the 18 Other Floor Protected funds charge less.
Other funds in Other Floor Protected
- ACPNSCalamos Nasdaq-100 Structured Alt Protection ETF – SeptemberExpense ratio 0.69%1 year return +6.2%
- AISWNAmplify BlackSwan ISWN ETF (International)Expense ratio 0.49%1 year return +2.0%
- ACPRYCalamos Russell 2000 Structured Alt Protection ETF – JanuaryExpense ratio 0.69%1 year return +8.9%
- ACPNJCalamos Nasdaq-100 Structured Alt Protection ETF – JuneExpense ratio 0.69%1 year return +4.8%
- ACPRJCalamos Russell 2000 Structured Alt Protection ETF – JulyExpense ratio 0.69%1 year return +3.6%