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CPRO vs KPRO

Calamos Russell 2000 Structured Alt Protection ETF – October

CPROANYSE Arca

KraneShares 100% KWEB Defined Outcome January 2027 ETF

KPROFNYSE Arca

Overlap

Expense ratio

CPRO −0.31pt a year

CPRO0.69%KPRO1.00%

Avg volume · 30D

CPRO 10.8×the volume

CPRO5.02KKPRO466

CPRO vs KPRO Performance

Oct 31, 2025 – Oct 30, 2026

+7.3%CPRO−7.0%KPRO

Oct 31, 2025 to Oct 30, 2026. CPRO +7.3%. KPRO −7.0%. Use the arrow keys to read each point.−5%−2.5%0%2.5%5%Oct 2025Apr 2026Oct 2026
Expense ratio
CPRO 0.69%, better
KPRO 1.00%
Fund size
CPRO $27M
KPRO $3M
1Y total return
CPRO +7.3%, better
KPRO −7.0%
Yield (12M)
CPRO No data
KPRO 9.73%
Holdings
CPRO 3
KPRO 3
Avg volume (30D)
CPRO 5.02K sh, better
KPRO 466 sh
NAV per share
CPRO $28.89
KPRO $26.24
52W range

ETF.net Grade

CPRO: Cost 78, Risk 86, Mission 88, Tradability 70, Holdings not scored, Durability 63. KPRO: Cost 4, Risk 38, Mission not scored, Tradability 19, Holdings 36, Durability 58.
Pillar letters and Scores for CPRO, KPRO, with each pillar’s weight
PillarCPROKPRO
Cost30% weightA78HigherF4
Mission25% weightA88Not scored
Risk15% weightA86HigherD38
Tradability15% weightA70HigherF19
Holdings10% weightNot scoredD36
Durability5% weightB63HigherB58

Rank among Other Floor Protected funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CPRO and KPRO are both graded against the same 18 Other Floor Protected funds, so their Grades compare head to head.

Other Floor Protected⁠

Category · 18 funds
See all 18 ›

CPRO ranks 2nd and KPRO 17th of 18 funds in the Other Floor Protected Category.

  1. Rank 1ACPRYCalamos Russell 2000 Structured Alt Protection ETF – JanuaryScore 78
  2. Rank 2ACPROCalamos Russell 2000 Structured Alt Protection ETF – OctoberScore 76
  3. Rank 3AISWNAmplify BlackSwan ISWN ETF (International)Score 74
  4. Rank 16FBFJAFT Vest Bitcoin Strategy Floor15 ETF - JanuaryScore 20
  5. Rank 17FKPROKraneShares 100% KWEB Defined Outcome January 2027 ETFScore 19
  6. Rank 18FARKEARK DIET Q3 Buffer ETFScore 14

Our read on each fund

ETF.net Research

CPROACalamos Russell 2000 Structured Alt Protection ETF – October

KPROFKraneShares 100% KWEB Defined Outcome January 2027 ETF

In short

CPRO Small-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.

KPRO Buffered ETFs almost always wrap the S&P 500. KPRO points the same machinery at China internet stocks, tracking that basket's price move to a January 2027 finish line with a 100% downside buffer and a capped upside.

Stated mandate

CPRO 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.

KPRO KPRO seeks to match the price return of KWEB during its defined outcome period, subject to a 20.01% cap and a 100% downside buffer.

Why people hold it

  • CPRO 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
  • KPRO The buffer is the full 100%, not a 9% or 15% slice. Held from the start of the outcome period to its January 2027 end, the structure is built to absorb reference-price losses, before fees.kraneshares.com
  • Defined-outcome wrappers cluster around US large caps and small caps. A stated cap and floor bolted onto a China internet basket is a genuinely unusual thing to find in this corner of the market.
  • One decision, one date. The cap and buffer are fixed for the outcome period, so there is no monthly reset or option roll to babysit.kraneshares.com

Worth knowing

  • CPRO 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.
  • KPRO It charges 1.00% a year, above the typical fee among protected-outcome funds, and that comes out of a return that is capped on the upside by design.
  • The mandate follows KWEB's price return, so dividends and distributions from the underlying basket are not part of the payoff.kraneshares.com
  • Small and thinly traded, so spreads can widen. Sell mid-period and you get whatever the options package is worth that day, not the stated outcome.

Full CPRO profile⁠

Full KPRO profile⁠

CPRO vs KPRO Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CPRO vs KPRO Cost

Overpaying KPRO vs CPRO

$5,259

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CPRO 0.69%

    $13,429

  • KPRO 1.00%

    $18,688

$10,000
30 years

Cost over time

  • CPRO 0.69%
  • KPRO 1.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KPRO $18,688CPRO $13,429

Year by year

YearCPROKPROOverpaying
10$1,232$1,763$531
20$4,697$6,625$1,928
30$13,429$18,688$5,259

Expense ratio

  • 0.69%CPRO, cheaper
  • 1.00%KPRO
  • Middle half of Other Floor Protected funds
  • Median 0.79%

CPRO 2nd cheapest of 18 funds

KPRO 17th cheapest of 18 funds

CPRO vs KPRO Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CPRO No data
KPRO 9.73%
Payout (12M)
CPRO None
KPRO $2.55
Last payment
CPRO No data
KPRO $2.55
Ex-dividend
CPRO No data
KPRO Dec 30, 2025
Paid on
CPRO No data
KPRO Dec 31, 2025
Frequency
CPRO No data
KPRO Irregular

Distribution history

Per share, 2024 to 2026, same scale for both

CPROAll CPRO payments⁠

No distribution history available.

KPROIrregular · 2 paymentsAll KPRO payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 30, 2024 $1.00; Dec 30, 2025 $2.55. Use the arrow keys to read each point.$0$2.502026YTD

CPRO vs KPRO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CPRO 3.8%since Nov 2024KPRO 6.6%since Mar 2024
Return per unit of riskSharpe ratio, 3 years
CPRO 0.94since Nov 2024KPRO 0.34since Mar 2024
Worst fallMax drawdown, 5 years
CPRO −3.3%since Oct 2024KPRO −9.2%since Feb 2024
Market sensitivityBeta, 5 years
CPRO 0.21KPRO 0.13

Popular comparisons

  • CPROAvsCPRYA

    Calamos Russell 2000 Structured Alt Protection ETF – October · Calamos Russell 2000 Structured Alt Protection ETF – January

    Expense ratio
    0.69% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • KPROFvsCPRYA

    KraneShares 100% KWEB Defined Outcome January 2027 ETF · Calamos Russell 2000 Structured Alt Protection ETF – January

    Expense ratio
    1.00% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CPROAvsISWNA

    Calamos Russell 2000 Structured Alt Protection ETF – October · Amplify BlackSwan ISWN ETF (International)

    Expense ratio
    0.69% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • KPROFvsISWNA

    KraneShares 100% KWEB Defined Outcome January 2027 ETF · Amplify BlackSwan ISWN ETF (International)

    Expense ratio
    1.00% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CPROAvsCPNSA

    Calamos Russell 2000 Structured Alt Protection ETF – October · Calamos Nasdaq-100 Structured Alt Protection ETF – September

    Expense ratio
    0.69% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • KPROFvsCPNSA

    KraneShares 100% KWEB Defined Outcome January 2027 ETF · Calamos Nasdaq-100 Structured Alt Protection ETF – September

    Expense ratio
    1.00% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.