CPSR ETF — Calamos S&P 500 Structured Alt Protection ETF - March

Calamos S&P 500 Structured Alt Protection ETF - March (CPSR)

Updated October 16, 2026.

CPSR is an ETF. its expense ratio is 0.69%. Total return is 10.6% over the past 1.6 years, 22.7 points behind SPY at 33.3%.

Calamos S&P 500 Structured Alt Protection ETF - March is an ETF that invests substantially all its assets in FLEX Options referencing the S&P 500, employing a structured options strategy designed to provide downside protection. The fund does not currently distribute income and carries an expense ratio of 0.69%. It may appeal to equity investors seeking S&P 500 exposure with built-in protection strategies, though its options-based approach and non-diversified structure make it suitable primarily for investors comfortable with alternative strategies.

CPSR performance versus SPY

Price and return data through 2026-10-16.

Total return is 10.6% over the past 1.6 years, 22.7 points behind SPY at 33.3%. Over the past year its total return — price change plus distributions reinvested — is 6.0%. Its deepest 1-year drawdown was 1.1%.

CPSR key facts

Issuer

Calamos Investments

Asset type

ETF

Asset class

Equity

Inception date

03/03/2025

Expense ratio

0.69%

Distribution frequency

None

Last close

$26.25 (as of 2026-10-16)

AUM

$34,157,439

Average volume

39.0

Beta

0.1271

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Calamos Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

CPSR risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 1.1%.

Who may consider CPSR — and who may not

It is a weaker fit for investors who need monthly cash flow (CPSR does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on CPSR

• All tickers starting with C

Tagged: Downside Protection, Options, Target, S&P500.

Frequently asked questions

More securities from Calamos Investments.