CPNSCalamos Nasdaq-100 Structured Alt Protection ETF - September
Seeks to match positive returns of the Invesco QQQ Trust up to 7.01% while protecting against 100% of negative returns.
By Calamos · Launched 2024
0.69%
#3,463 of 5,562 · average
$25M
#4,189 of 5,562 · small
0.00%
1 year
#3,768 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 = 99.4% 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 7.01% while protecting against 100% of negative returns.
- Strategy
- The Fund files prospectus supplements prior to the end of each Outcome Period to inform shareholders of the upcoming Cap range. After each period, it discloses the Cap for the next period. The Cap is not guaranteed to be within the anticipated range.
- Inception date
- September 3, 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