# Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL): ETF Facts & Distributions

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- Issuer: Calamos · Asset class: Equity
- Strategy: Buffered · Inception: 2024-09-09

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...

## Key Facts

| Metric | Value |
|---|---|
| Price | $28.49 |
| Expense Ratio | 0.10% |
| Assets Under Management | $163.6M |
| NAV | $28.45 |
| Holdings Count | 0 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | — |
| 52-Week Range | $26.86 – $28.50 |
| Beta | 0.17 |

## Frequently Asked Questions

### 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 $163.6M 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's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

### 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.

### Does CPSL pay a dividend?

Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL) 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 CPSL pay dividends?

Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF 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 CPSL's dividend yield?

CPSL's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is CPSL's next ex-dividend date?

CPSL 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 CPSL's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.10% 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 CPSL charge its expense ratio?

The expense ratio is deducted in tiny daily slices from CPSL'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 CPSL cost more than a fund like VOO?

CPSL's strategy (current expense ratio 0.10%) 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 CPSL sits within its own category, which is the comparison that actually matters.

### Are there cheaper alternatives to CPSL?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as CPSL (0.10%) 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/cpsl
- Distribution history: https://www.dividenddata.com/funds/cpsl/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/cpsl/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/cpsl/expenses
- Peer comparison: https://www.dividenddata.com/funds/cpsl/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.