# Calamos S&P 500 Structured Alt Protection ETF – August (CPSA): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/cpsa for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Calamos · Asset class: Equity - Strategy: Buffered · Inception: 2024-07-31 Calamos Structured Protected ETFs are structured to capture the positive price appreciation of the S&P 500, up to a specified maximum, while simultaneously providing full downside protection against any losses within a one-year investment horizon (excluding fees and expenses). ## Key Facts | Metric | Value | |---|---| | Price | $28.23 | | Expense Ratio | 0.69% | | Assets Under Management | $49.5M | | NAV | $28.27 | | Holdings Count | 5 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $26.48 – $28.27 | | Beta | 0.21 | ## Frequently Asked Questions ### What does CPSA invest in? Calamos Structured Protected ETFs are structured to capture the positive price appreciation of the S&P 500, up to a specified maximum, while simultaneously providing full downside protection against any losses within a one-year investment horizon (excluding fees and expenses). ### What is the expense ratio of CPSA? Calamos S&P 500 Structured Alt Protection ETF – August (CPSA) charges an expense ratio of 0.69%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is CPSA? Calamos S&P 500 Structured Alt Protection ETF – August (CPSA) manages $49.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is CPSA actively managed or an index fund? CPSA's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was CPSA launched? Calamos S&P 500 Structured Alt Protection ETF – August (CPSA) launched in July 2024 and is managed by Calamos. ### How has CPSA performed? CPSA's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does CPSA pay a dividend? Calamos S&P 500 Structured Alt Protection ETF – August (CPSA) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does CPSA pay dividends? Calamos S&P 500 Structured Alt Protection ETF – August pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is CPSA's dividend yield? CPSA's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is CPSA's next ex-dividend date? CPSA hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page. ### How much will CPSA's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.69% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does CPSA charge its expense ratio? The expense ratio is deducted in tiny daily slices from CPSA's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does CPSA cost more than a fund like VOO? CPSA's strategy (current expense ratio 0.69%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where CPSA sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to CPSA? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as CPSA (0.69%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/cpsa - Distribution history: https://www.dividenddata.com/funds/cpsa/dividend - Holdings & diversification: https://www.dividenddata.com/funds/cpsa/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/cpsa/expenses - Peer comparison: https://www.dividenddata.com/funds/cpsa/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.