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CPSLCalamos Laddered S&P 500 Structured Alt Protection ETF

Stay safeGrow my money1y track recordRanked #166 of 340 in this goal

Seeks to provide investors with capital appreciation.

By Calamos · Launched 2024

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$109M

#2,841 of 5,562 · mid-size

Dividend YieldGoal

0.00%

Track Record

1 year

#3,793 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$10,713+7.1%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 83.3% of fundconcentrated

Calamos S&P 500 Str Alt Prt ETF-AprCPSP
8.4%
Calamos S&P 500 Str Alt Prt ETF-MarCPSR
8.3%
Calamos S&P 500 Str Alt Prt ETF-JulCPSJ
8.3%
Calamos S&P 500 Str Alt Prt ETF-AugCPSA
8.3%
Calamos S&P 500 Str Alt Prt ETF-FebCPSF
8.3%
Calamos S&P 500 Str Alt Prt ETF-JunCPSU
8.3%
Calamos S&P 500 Str Alt Prt ETF-OctCPSO
8.3%
Calamos S&P 500 Str Alt Prt ETF-SepCPST
8.3%
Calamos S&P 500 Str Alt Prt ETF-NovCPSN
8.3%
Calamos S&P 500 Str Alt Prt ETF-DecCPSD
8.3%

Asset allocation

Stocks
90.6%
Bonds
8.3%
Cash
1.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
2.2%Low

Year-on-year price swings

Max drawdown
-3.7%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide investors with capital appreciation.
Strategy
Invests primarily in Underlying ETFs that aim to match the price return of SPY with an upside cap while providing downside protection against SPY losses. Focuses on a defined one-year outcome period and acquires shares in the secondary market.
Inception date
September 9, 2024
Fund family
Calamos

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

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