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CPSD vs MMAX

Calamos S&P 500 Structured Alt Protection ETF - December

CPSDCNYSE Arca

iShares Large Cap Max Buffer Mar ETF

MMAXACboe

Overlap

Expense ratio

MMAX −0.16pt a year

CPSD0.69%MMAX0.53%

Avg volume · 30D

MMAX 3.0×the volume

CPSD1.4KMMAX4.16K

CPSD vs MMAX Performance

Nov 7, 2025 – Nov 9, 2026

+6.2%CPSD+6.6%MMAX

Nov 7, 2025 to Nov 9, 2026. CPSD +6.2%. MMAX +6.6%. Use the arrow keys to read each point.0%2%4%Nov 2025May 2026Nov 2026
Expense ratio
CPSD 0.69%
MMAX 0.53%, better
Fund size
CPSD $46M
MMAX $74M
1Y total return
CPSD +6.2%
MMAX +6.6%, better
Holdings
CPSD 3
MMAX 4
Avg volume (30D)
CPSD 1.4K sh
MMAX 4.16K sh, better
NAV per share
CPSD $27.12
MMAX $27.52
52W range

ETF.net Grade

CPSD: Cost 62, Risk 59, Mission not scored, Tradability 30, Holdings not scored, Durability 47. MMAX: Cost 83, Risk 82, Mission not scored, Tradability 64, Holdings 50, Durability 62.
Pillar letters and Scores for CPSD, MMAX, with each pillar’s weight
PillarCPSDMMAX
Cost30% weightB62A83Higher
Mission25% weightNot scoredNot scored
Risk15% weightB59A82Higher
Tradability15% weightD30B64Higher
Holdings10% weightNot scoredC50
Durability5% weightC47B62Higher

Rank among S&P 500 Full Protection funds

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

Same Category. CPSD and MMAX are both graded against the same 27 S&P 500 Full Protection funds, so their Grades compare head to head.

S&P 500 Full Protection⁠

Category · 27 funds
See all 27 ›

MMAX ranks 2nd and CPSD 10th of 27 funds in the S&P 500 Full Protection Category.

  1. Rank 1ACPSLCalamos Laddered S&P 500 Structured Alt Protection ETFScore 79
  2. Rank 2AMMAXiShares Large Cap Max Buffer Mar ETFScore 76
  3. Rank 3AMAXJiShares Large Cap Max Buffer Jun ETFScore 75
  4. Rank 10CCPNQCalamos Nasdaq-100 Structured Alt Protection ETF - DecemberScore 52
  5. Rank 10CCPSDCalamos S&P 500 Structured Alt Protection ETF - DecemberScore 52
  6. Rank 12CCPSMCalamos S&P 500 Structured Alt Protection ETF – MayScore 51

CPSD vs MMAX 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.

CPSD vs MMAX Cost

Overpaying CPSD vs MMAX

$2,893

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

  • CPSD 0.69%

    $13,429

  • MMAX 0.53%

    $10,536

$10,000
30 years

Cost over time

  • CPSD 0.69%
  • MMAX 0.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530CPSD $13,429MMAX $10,536

Year by year

YearCPSDMMAXOverpaying
10$1,232$953$279
20$4,697$3,658$1,039
30$13,429$10,536$2,893

Expense ratio

  • 0.69%CPSD
  • 0.53%MMAX, cheaper
  • Middle half of S&P 500 Full Protection funds
  • Median 0.69%

MMAX 6th cheapest of 27 funds

CPSD 8th cheapest of 27 funds

CPSD vs MMAX Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
CPSD None
MMAX No data
Last payment
CPSD No data
MMAX $0.35
Ex-dividend
CPSD No data
MMAX Dec 23, 2025
Paid on
CPSD No data
MMAX Dec 29, 2025
Frequency
CPSD No data
MMAX Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

CPSDAll CPSD payments⁠

No distribution history available.

MMAXIrregular · 1 paymentAll MMAX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.35. Use the arrow keys to read each point.$0$0.252026YTD

CPSD vs MMAX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CPSD 2.7%since Jan 2025MMAX 1.0%since May 2025
Return per unit of riskSharpe ratio, 3 years
CPSD 0.95since Jan 2025MMAX 3.21since May 2025
Worst fallMax drawdown, 5 years
CPSD −3.5%since Dec 2024MMAX −1.9%since Apr 2025
Market sensitivityBeta, 5 years
CPSD 0.19MMAX 0.08

CPSD and MMAX in the news

All news⁠

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