CPNQCalamos Nasdaq-100 Structured Alt Protection ETF - December
Seeks to match positive returns of the Invesco QQQ Trust up to 7.10% while protecting against 100% of negative returns.
By Calamos · Launched 2024
0.69%
#3,463 of 5,562 · average
$32M
#3,980 of 5,562 · small
0.00%
1 year
#3,966 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 3 holdings = 99.2% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks to match positive returns of the Invesco QQQ Trust up to 7.10% while protecting against 100% of negative returns.
- Strategy
- Invests in strategies designed to provide capped upside exposure to the Invesco QQQ Trust while fully protecting against downside losses. The Fund will disclose anticipated Cap ranges and outcomes prior to each Outcome Period.
- Inception date
- December 2, 2024
- Fund family
- Calamos
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Buffer ETF — downside protection at a cost
Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.
Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)
Why we flagged this: strategy=structured_outcome + structured_outcome_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-19