CPSYCalamos S&P 500 Structured Alt Protection ETF - January
Seeks to provide investment results that correspond to the performance of the Underlying ETF with downside protection.
By Calamos · Launched 2024
0.69%
#3,604 of 5,854 · average
$26M
#4,262 of 5,854 · small
+6.3%
1 year
#3,971 of 5,854 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightAsset 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
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks to provide investment results that correspond to the performance of the Underlying ETF with downside protection.
- Strategy
- Actively managed ETF that invests primarily in FLEX Options referencing the Underlying ETF's price. Aims to capture upside potential up to a cap while protecting against losses during the one-year Outcome Period.
- Inception date
- December 31, 2024
- Fund family
- Calamos
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
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 2026-08-03