CPSJ: Calamos S&P 500 Structured Alt Protection ETF - July
Calamos · Buffer / Defined Outcome · Tracks S&P 500
$27.87
Price (November 6, 2026)
0.0%
12-month yield
Forward rate –
+4.7%
1-year total return
Price +4.7%
–
Earned % (1 year)
–
DT Score
–
Momentum
Growth of $100
Green is what an investor who reinvested every payout would have; red is the price alone. The gap between them is the income. If the red line keeps falling, the payouts are partly your own money coming back.
Total return (payouts reinvested)Price onlySPY total return
Risk
| Sortino ratio (1Y) | 0.23 |
| Sharpe ratio (1Y) | 0.17 |
| Steadiness vs S&P 500 | 500%+ |
| Beta to S&P 500 | 0.15 |
| Correlation to S&P 500 | 0.83 |
| Max drop (1Y) | -1.4% |
| Max drop (up to 5 yrs) | -5.4% |
| Trend | Mixed |
| History | 2.3 yrs |
Vs. SPY (what it's built on)
| Upside capture | 17% |
| Downside capture | 13% |
| Capture ratio | 1.27 |
| Beta | 0.15 |
| Correlation | 0.83 |
| Tracking | Loosely |
On days SPY rose, CPSJ caught 17% of the gain; on days it fell, CPSJ took 13% of the loss.
Funds that track the same thing
Other S&P 500 income funds, ranked by DT Score. See them all · Compare CPSJ with the top 3
| Fund | Category | Fwd rate | 12m yield | 1Y total ret. | Earned % 1Y | Upside capt. | Downside capt. | Tracking | DT Score | Momentum | Trend |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XYLD Global X S&P 500 Covered Call ETF | Index Covered Call / Option Income | 10.2% | 10.6% | +11.7% | 107% | 52% | 43% | Loosely | 76 | 58 | Downtrend |
| PBP Invesco S&P 500 BuyWrite ETF | Index Covered Call / Option Income | 9.6% | 12.5% | +12.7% | 99% | 52% | 42% | Loosely | 75 | 58 | Downtrend |
| GPIX Goldman Sachs S&P 500 Premium Income ETF | Index Covered Call / Option Income | 8.9% | 7.9% | +10.9% | 123% | 87% | 85% | Closely | 75 | 46 | Downtrend |
| SPHD Invesco S&P 500 High Dividend Low Volatility ETF | Equity Income / Dividend Growth | 5.0% | 4.8% | +16.1% | 304% | 15% | -4% | Weakly | 74 | 78 | Mixed |
| APRH Innovator Premium Income 20 Barrier ETF - April | Buffer / Defined Outcome | 8.4% | 7.5% | +7.1% | 97% | 13% | 5% | Weakly | 73 | 69 | Downtrend |
| SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF | Equity Income / Dividend Growth | 4.2% | 4.2% | +21.9% | 444% | 31% | 8% | Weakly | 73 | 83 | Uptrend |
| BALI iShares U.S. Large Cap Premium Income Active ETF | Index Covered Call / Option Income | 6.5% | 7.5% | +12.6% | 150% | 82% | 77% | Closely | 73 | 41 | Downtrend |
| JANH Innovator U.S. Equity Premium Income 20 Barrier ETF - January | Buffer / Defined Outcome | 6.3% | 6.2% | +5.9% | 95% | 22% | 17% | Loosely | 72 | 72 | Downtrend |
| ADX Adams Diversified Equity Fund | CEF - Equity | 8.2% | 7.8% | +15.5% | 161% | 103% | 99% | Loosely | 72 | 35 | Downtrend |
| JEPI JPMorgan Equity Premium Income ETF | Index Covered Call / Option Income | 7.2% | 7.5% | +7.8% | 99% | 42% | 37% | Loosely | 72 | 60 | Downtrend |
About CPSJ
| Issuer | Calamos |
| Structure | ETF |
| Category | Buffer / Defined Outcome |
| Strategy | Structured alt protection using FLEX options; downside protection over outcome period |
| Underlying | S&P 500 |
| Exposure | S&P 500 / US Large Cap |
| Index linkage | Partial - options/overlay on index |
| Pays | None |
| Expense ratio | 0.69% |
| Launched | 2021 |
| Uses leverage | No |
| Upside capped | Yes |
| Rate sensitivity | Low |
| Return of capital common | No |
| Tax notes | Mostly capital gains; limited distributions |
Research notes: Representative of Calamos monthly structured protection series; verify ticker details.
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