
Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL)
ETF overview
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.
Fund facts
- Expense ratio
- 0.10%
- Fund assets
- 160.7M USD (all share classes)
- Issuer
- Calamos
- Inception date
- Sep 9, 2024
- Number of holdings
- 12
Breakdown
Holdings (12)
| Name | Ticker | Weight |
|---|---|---|
| Calamos S&P 500 Structured Alt Protection ETF - October | CPSO | 8.37% |
| Calamos S&P 500 Structured Alt Protection ETF - November | CPSN | 8.37% |
| Calamos S&P 500 Structured Alt Protection ETF - December | CPSD | 8.35% |
| Calamos S&P 500 Structured Alt Protection ETF - January | CPSY | 8.34% |
| Calamos S&P 500 Structured Alt Protection ETF - February | CPSF | 8.33% |
| Calamos S&P 500 Structured Alt Protection ETF - August | CPSA | 8.33% |
| Calamos S&P 500 Structured Alt Protection ETF - March | CPSR | 8.32% |
| Calamos S&P 500 Structured Alt Protection ETF - July | CPSJ | 8.32% |
| Calamos S&P 500 Structured Alt Protection ETF - April | CPSP | 8.31% |
| Calamos S&P 500 Structured Alt Protection ETF - September | CPST | 8.31% |
Historical returns do not guarantee future returns. This is not investment advice.

Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL)
- Expense ratio
- 0.10%
- Fund assets
- 160.7M USD (all share classes)
- Issuer
- Calamos
- Inception date
- Sep 9, 2024
- Number of holdings
- 12
| Name | Ticker | Weight |
|---|---|---|
| Calamos S&P 500 Structured Alt Protection ETF - October | CPSO | 8.37% |
| Calamos S&P 500 Structured Alt Protection ETF - November | CPSN | 8.37% |
| Calamos S&P 500 Structured Alt Protection ETF - December | CPSD | 8.35% |
| Calamos S&P 500 Structured Alt Protection ETF - January | CPSY | 8.34% |
| Calamos S&P 500 Structured Alt Protection ETF - February | CPSF | 8.33% |
| Calamos S&P 500 Structured Alt Protection ETF - August | CPSA | 8.33% |
| Calamos S&P 500 Structured Alt Protection ETF - March | CPSR | 8.32% |
| Calamos S&P 500 Structured Alt Protection ETF - July | CPSJ | 8.32% |
| Calamos S&P 500 Structured Alt Protection ETF - April | CPSP | 8.31% |
| Calamos S&P 500 Structured Alt Protection ETF - September | CPST | 8.31% |
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.
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