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Calamos Alternative ETFs

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Alternative ETFs

Exposure to non-traditional opportunities

We’ve been at the forefront of alternative investing for over four decades, it’s in our DNA. Our Alternative ETFs capitalize on Calamos’ expertise and share a common goal: empowering investors to better manage risk and create long-term wealth.

Active Floor ETF
Closed-End Funds ETF
Convertible Bond ETF

Calamos Nasdaq Equity & Income ETF

CANQ

Seeks uncapped upside to the largest and most recognized Nasdaq-100® stocks, coupled with the income and diversification potential of bonds.

View CANQ

Calamos CEF Income & Arbitrage ETF

CCEF

Seeks to deliver high monthly income and capital appreciation by investing in income producing closed-end funds trading at attractive discounts.

View CCEF

Calamos Convertible Equity Alternative ETF

CVRT

Seeks to deliver total returns through capital appreciation and current income, by investing largely in a portfolio of US convertible securities exhibiting a high level of equity sensitivity.

View CVRT

Featured Resources

CCEF: A Potential Antidote to Falling Yields and Volatility Spikes

CANQ Hybrid Investment Strategy Shows Results

Calamos Financial Services LLC, Distributor

Check the background of the firm and its investment professionals on FINRA's BrokerCheck.

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-866-363-9219. Read it carefully before investing.

©2025 Calamos Investments LLC. All Rights Reserved. Calamos®, Calamos Investments® and Investment strategies for your serious money® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Financial Services LLC and Calamos Antetokounmpo Asset Management LLC.

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An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus.

Risks of investing in the Calamos Alternative Nasdaq & Bond ETF include risks associated with: Authorized Participant Concentration Risk: Only an Authorized Participant may engage in creation or redemption transactions directly with the Fund, and none of those Authorized Participants is obligated to engage in creation and/or redemption transactions; Debt Securities Risk: Debt securities are subject to various risks, including interest rate risk, credit risk and default risk; Equity Securities Risk: The securities markets are volatile, and the market prices of the Fund's securities may decline generally; FLEX Options Risk: The Fund may invest in FLEX Options issued and guaranteed for settlement by The Options Clearing Corporation ("OCC"). FLEX Options are customized option contracts that trade on an exchange but provide investors with the ability to customize key contract terms like strike price, style and expiration date while achieving price discovery in competitive, transparent auctions markets and avoiding the counterparty exposure of over-the-counter options positions; High Yield Risk: High yield securities and unrated securities of similar credit quality (commonly known as "junk bonds") are subject to greater levels of credit and liquidity risks; LEAPS® Options Risk: The Fund's investments in options contracts may include long-term equity anticipation securities known as LEAPS Options. LEAPS Options are long-term exchange-traded call options that allow holders the opportunity to participate in the underlying securities' appreciation in excess of a specified strike price without receiving payments equivalent to any cash dividends declared on the underlying securities; Liquidity Risk - FLEX Options: In the event that trading in the underlying FLEX Options is limited or absent, the value of the Fund's FLEX Options may decrease; Liquidity Risk - LEAPS Options: In the event that trading in the underlying LEAPS Options is limited or absent, the value of the Fund's LEAPS Options may decrease; Market Maker Risk: If the Fund has lower average daily trading volumes, it may rely on a small number of third-party market makers to provide a market for the purchase and sale of Fund Shares; Market Risk: The risk that the securities markets will increase or decrease in value is considered market risk and applies to any security; New Fund Risk: The Fund is a recently organized investment company with a limited operating history; Non-Diversification Risk: The Fund is classified as "non-diversified" under the 1940 Act; Options Risk: The Fund's ability to close out its position as a purchaser or seller of an over-the-counter or exchange-listed put or call option is dependent, in part, upon the liquidity of the option market; Other Investment Companies (including ETFs) Risk: The Fund may invest in the securities of other investment companies to the extent that such investments are consistent with the Fund's investment objective and the policies are permissible under the 1940 Act.

Risks of investing in the Calamos CEF Income & Arbitrage ETF include risks associated with (1) the Fund's investment in closed-end fund shares;(2) the closed-end funds' investments; and (3) any other investments of the Fund, including investments in ETFs, BDCs, and derivative instruments. The shares of closed-end funds may trade at a discount or premium to, or at, their NAV. The securities of closed-end funds may be leveraged. As a result, the Fund, may be exposed indirectly to leverage through an investment in such securities. An investment in securities of closed-end funds that use leverage may expose the Fund to higher volatility in the market value of such securities and the possibility that the Fund's long-term returns on such securities (and, indirectly, the long-term returns of its shares) will be diminished. In addition, closed-end funds are allowed to invest in a greater amount of illiquid securities than open-end mutual funds. Investments in illiquid securities pose risks related to uncertainty in valuations, volatile market prices, and limitations on resale that may have an adverse effect on the ability of the fund to dispose of the securities promptly or at reasonable prices. The Fund may invest in BDCs, which typically operate to invest in, or lend capital to, early stage-to-mature private companies as well as small public companies. The Fund's investment in shares of ETFs subjects it to the risks of owning the securities underlying the ETF, as well as the same structural risks faced by an investor purchasing shares of the Fund, including authorized participant concentration risk, market maker risk, premium-discount risk and trading issues risk. Derivatives are instruments, such as futures and forward foreign currency contracts, whose value is derived from that of other assets, rates or indices. The use of derivatives for non-hedging purposes may be considered more speculative than other types of investments.

Risks of investing in the Calamos Convertible Equity Alternative ETF include risks associated with: Authorized Participant Concentration Risk - Only an Authorized Participant may engage in creation or redemption transactions directly with the Fund, and none of those Authorized Participants is obligated to engage in creation and/or redemption transactions. Convertible Securities Risk - The value of a convertible security is influenced by changes in interest rates, with investment value declining as interest rates increase and increasing as interest rates decline. Debt Securities Risk - Debt securities are subject to various risks, including interest rate risk, credit risk and default risk. Equity Securities Risk - The securities markets are volatile, and the market prices of the Fund's securities may decline generally. Foreign Securities Risk - Risks associated with investing in foreign securities include fluctuations in the exchange rates of foreign currencies that may affect the US dollar value of a security, the possibility of substantial price volatility as a result of political and economic instability in the foreign country, less public information about issuers of securities, different securities regulation, different accounting, auditing and financial reporting standards and less liquidity than in US markets.High Yield Risk - High yield securities and unrated securities of similar credit quality (commonly known as "junk bonds") are subject to greater levels of credit and liquidity risks. New Fund Risk - The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision. Options Risk - The Fund's ability to close out its position as a purchaser or seller of an over-the-counter or exchange-listed put or call option is dependent, in part, upon the liquidity of the option market. Non-Diversification Risk - The Fund is classified as "non-diversified" under the 1940 Act. As a result, the percentage of fund assets that may be invested in the securities of any one issuer is limited by the diversification requirements imposed by the Internal Revenue Code of 1986, as amended. Portfolio Turnover Risk - The portfolio managers may actively and frequently trade securities or other instruments in the Fund's portfolio to carry out its investment strategies. Small and Mid-Sized Company Risk - Small and mid-sized company stocks have historically been subject to greater investment risk than large company stocks. Synthetic Convertible Instruments Risk - The value of a synthetic convertible instrument will respond differently to market fluctuations than a convertible security because a synthetic convertible instrument is composed of two or more separate securities, each with its own market value.

Nasdaq®, Nasdaq-100®, Nasdaq-100 Index® and Nasdaq-100 Top 30 Hybrid Income Index® are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Calamos Advisors LLC. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE