---
ticker: "CPSA"
name: "Calamos S&P 500 Structured Alt Protection ETF – August"
url: "https://etf.net/etf/CPSA"
grade: "C"
score: 54
graded_at: "2026-10-12"
category: "S&P 500 Full Protection"
category_rank: "8 of 39"
methodology: "https://etf.net/methodology"
---

# CPSA: Calamos S&P 500 Structured Alt Protection ETF – August

Grade **C**, Score 54 of 100. Rank 8 of 39 in S&P 500 Full Protection.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 62 | 9 of 39 |
| Mission | 87 | 2 of 3 |
| Risk | 55 | 11 of 38 |
| Tradability | 38 | 26 of 39 |
| Holdings | Not scored | — |
| Durability | 62 | 15 of 39 |

## Top holdings

The fund holds 2 positions. These are the largest 2, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | State Street SPDR S&P 500 ETF Trust | 99.28% |
| 2 | — | Us Dollar | 0.85% |

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