Calamos S&P 500 Structured Alt Protection ETF – March
$26.280.00 (0.00%)
- 0.69%
- $34M
- +6.2%
- 0M sh
- $26.33
- low $24.77high $26.30
The ETF.net CPSR Grade
C
Score 48 out of 100
- 16 of 39
Score 48 of 100 falls in the C 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.B62 out of 100Rank 9 of 39Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B55 out of 100Rank 11 of 38Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F17 out of 100Rank 34 of 39Holdings
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.C48 out of 100Rank 26 of 39
Our read on CPSR
CCalamos's March gate into fully protected S&P 500 exposure: a one-year outcome period built to absorb every index loss, before fees, in exchange for a firm ceiling on the upside.
The fund seeks to provide the positive price return of the S&P 500 up to a defined cap while protecting against all losses during a one-year outcome period, before fees and expenses.
Why people hold it
- Protection is the whole point. Each one-year outcome period targets none of the S&P 500's losses, before fees and expenses, rather than a 10% or 15% buffer.calamos.com
- Part of a series with entry points every month, so a fresh outcome period opens regularly instead of once a year.calamos.com
- The 0.69% fee sits at the median of its fully protected peer group and matches siblings like CPSM and CPSJ, so month of entry, not cost, is the differentiator.
Worth knowing
- The upside cap is set at each period's start and resets. Buy mid-period and your personal cap and protection level differ from the headline terms.calamos.com
- Protection is stated before fees and expenses, so the 0.69% expense ratio comes out of whatever the structure delivers.
- Thinly traded with a small asset base, which can mean wider bid/ask spreads than the giants of the S&P 500 world.
CPSR Holdings
- Stocks
- 3
- 110%
- SPDR S&P 500 ETF Trust (SPY) Long Call Option
CPSR 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.
CPSR$10,622
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 | CPSR |
|---|---|
| Year to date | +4.4% |
| 1 month | +0.6% |
| 3 months | +1.5% |
| 1 year | +6.2% |
| 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 | CPSR |
|---|---|---|
| 2026 YTD | +4.4% | |
| 2025 | +6.2% |
CPSR in the news
CPSR Dividends
No distributions in the last 12 months.
CPSR Risk
- 1.7%
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.
- 1.85
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.
- −3.4%
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.
- 0.11
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CPSR Cost
0.69%
CPSR0.69%
- The middle half of S&P 500 Full Protection funds
- Median 0.69%
7 of the 27 S&P 500 Full Protection funds charge less.
Other funds in S&P 500 Full Protection
- CZJULInnovator ETFs Trust - Innovator Equity Defined Protection ETF - 1 Yr JulyExpense ratio 0.79%1 year return +6.0%
- CCPSFCalamos S&P 500 Structured Alt Protection ETF – FebruaryExpense ratio 0.69%1 year return +6.5%
- CCPSYCalamos S&P 500 Structured Alt Protection ETF – JanuaryExpense ratio 0.69%1 year return +6.4%
- CTJULInnovator Equity Defined Protection ETFExpense ratio 0.79%1 year return +5.1%
- CZFEBInnovator ETFs Trust - Innovator Equity Defined Protection ETF - 1 Yr FebruaryExpense ratio 0.79%1 year return +6.3%