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CPSL vs MMAX

Calamos Laddered S&P 500 Structured Alt Protection ETF

CPSLACboe

iShares Large Cap Max Buffer Mar ETF

MMAXACboe

Overlap

Expense ratio

CPSL −0.43pt a year

CPSL0.10%MMAX0.53%

Avg volume · 30D

CPSL 9.1×the volume

CPSL37.4KMMAX4.12K

CPSL vs MMAX Performance

Oct 31, 2025 – Oct 30, 2026

+5.3%CPSL+6.5%MMAX

Oct 31, 2025 to Oct 30, 2026. CPSL +5.3%. MMAX +6.5%. Use the arrow keys to read each point.0%1%2%3%4%Oct 2025Apr 2026Oct 2026
Expense ratio
CPSL 0.10%, better
MMAX 0.53%
Fund size
CPSL $163M
MMAX $74M
1Y total return
CPSL +5.3%
MMAX +6.5%, better
Holdings
CPSL 13
MMAX 4
Avg volume (30D)
CPSL 37.4K sh, better
MMAX 4.12K sh
NAV per share
CPSL $28.38
MMAX $27.58
52W range

ETF.net Grade

CPSL: Cost 99, Risk 52, Mission not scored, Tradability 75, Holdings 93, Durability 69. MMAX: Cost 83, Risk 81, Mission not scored, Tradability 64, Holdings 50, Durability 62.
Pillar letters and Scores for CPSL, MMAX, with each pillar’s weight
PillarCPSLMMAX
Cost30% weightA99HigherA83
Mission25% weightNot scoredNot scored
Risk15% weightC52A81Higher
Tradability15% weightA75HigherB64
Holdings10% weightA93HigherC50
Durability5% weightB69HigherB62

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. CPSL 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 ›

CPSL ranks 1st and MMAX 2nd of 27 funds in the S&P 500 Full Protection Category.

  1. Rank 1ACPSLCalamos Laddered S&P 500 Structured Alt Protection ETFScore 80
  2. Rank 2AMMAXiShares Large Cap Max Buffer Mar ETFScore 76
  3. Rank 3AMAXJiShares Large Cap Max Buffer Jun ETFScore 75

CPSL 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.

CPSL vs MMAX Cost

Overpaying MMAX vs CPSL

$8,430

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

  • CPSL 0.10%

    $2,106

  • MMAX 0.53%

    $10,536

$10,000
30 years

Cost over time

  • CPSL 0.10%
  • MMAX 0.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530MMAX $10,536CPSL $2,106

Year by year

YearCPSLMMAXOverpaying
10$183$953$770
20$717$3,658$2,941
30$2,106$10,536$8,430

Expense ratio

  • 0.10%CPSL, cheaper
  • 0.53%MMAX
  • Middle half of S&P 500 Full Protection funds
  • Median 0.69%

CPSL cheapest of 27 funds

MMAX 6th cheapest of 27 funds

CPSL vs MMAX Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
CPSL None
MMAX No data
Last payment
CPSL No data
MMAX $0.35
Ex-dividend
CPSL No data
MMAX Dec 23, 2025
Paid on
CPSL No data
MMAX Dec 29, 2025
Frequency
CPSL No data
MMAX Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

CPSLAll CPSL 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

CPSL vs MMAX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CPSL 2.3%since Oct 2024MMAX 1.0%since May 2025
Return per unit of riskSharpe ratio, 3 years
CPSL 0.65since Oct 2024MMAX 3.21since May 2025
Worst fallMax drawdown, 5 years
CPSL −3.7%since Sep 2024MMAX −1.9%since Apr 2025
Market sensitivityBeta, 5 years
CPSL 0.17MMAX 0.08

CPSL and MMAX in the news

All news⁠

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