Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF

Frequently Asked Questions About CPSL

What does CPSL invest in?

CPSL holds a laddered portfolio of defined outcome buffer ETFs. At the time of launch, the fund consisted of four underlying ETFs, each of which has exposure to SPYs capped gains with a 100% downside hedge over a one-year outcome period. During the ramp-up period, the fund will rebalance monthly to add newly launched underlying ETFs until June 2025, wherein the portfolio eventually will hold 12 equally weighted Calamos S&P 500 Structured Alt Protection ETFs. Each underlying ETF uses FLEX options exclusively and resets every year at the beginning of each month. This means that approximately every 30 days, one of the underlying ETFs will reset its cap and refresh its downside protection. This creates a continuous hedge regardless of each underlying ETFs outcome period. The approach reduces the timing risks associated with a monthly buffer strategy. Information on CPSLs exposure to the underlying ETFs, remaining cap, and buffer are provided daily on the issuers website.

What is the expense ratio of CPSL?

Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL) charges an expense ratio of 0.10%. This is the annual fee deducted from fund assets to cover management and operations.

How big is CPSL?

Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL) manages $151.1M 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 CPSL actively managed or an index fund?

CPSL is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (CPSL's is 0.10%) because there's no security selection cost.

When was CPSL launched?

Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL) launched in September 2024 and is managed by Calamos.

How has CPSL performed?

CPSL'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.