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CPSL

Calamos Laddered S&P 500® Structured Alt Protection ETF

Important Disclosure

Fund Stats

  • NAV

    $25.38

    $0.05 (0.20%)

    As of 10/14/24

  • Market Price

    $25.38

    As of 10/14/24

  • Total Net Assets

    $18.4 Million

    As of 10/14/24

  • Inception Date

    9/9/24

Calamos Laddered S&P 500 Structured Alt Protection ETF

The Calamos Laddered S&P 500® Structured Alt Protection ETF (Ticker: CPSL) is designed to provide S&P 500® equity market exposure while limiting downside risk through a laddered portfolio of underlying monthly Calamos S&P 500® Structured Alt Protection ETFs.

Key Features

  • Single-Ticker Solution. Access the full suite of 100% downside protection S&P 500 ETFs in a single ticker-the first of its kind.
  • Outcome Period Diversification. Owning all outcome periods removes timing considerations from picking a monthly entry point.
  • Protected Participation. Delivers upside return potential from underlying exposures to the S&P 500® with downside protection.

Portfolio Fit

As a tax-advantaged, cash alternative, activates cash on the sidelines with equity upside potential and limited downside risk.

For retirees looking to derisk, preserves capital near or during retirement.

For equity risk control, offers substantial capital protection on equity exposure for investors unwilling to risk market drawdowns.

Newcomer ETF Firm of the Year Award

Portfolio

Calamos Laddered S&P 500 Structured Alt Protection ETF is comprised of the following Structured Protection ETFs. For more information on individual Structured Protection ETFs, click on the ticker to view the full fund profile.

CPSM May Series

Starting Cap
9.81%
Current Cap*
3.86%
Current Protection Level*
94.46%
Days Remaining*
197 days

CPSJ July Series

Starting Cap
9.45%
Current Cap*
5.65%
Current Protection Level*
96.53%
Days Remaining*
258 days

CPSA August Series

Starting Cap
8.74%
Current Cap*
5.99%
Current Protection Level*
97.47%
Days Remaining*
289 days

CPST September Series

Starting Cap
7.50%
Current Cap*
6.23%
Current Protection Level*
98.81%
Days Remaining*
318 days

CPSO October Series

Starting Cap
6.67%
Current Cap*
6.48%
Current Protection Level*
99.83%
Days Remaining*
350 days

*Current cap, protection level, and days remaining are as of 10/15/2024 at 1:16PM CDT

CPSL Underlying Structured Protection ETFs Details

Data as of 10/15/2024 at 1:16PM CDT
CPSM CPSJ CPSA CPST CPSO
Remaining Outcome Period 197 days 258 days 289 days 318 days 350 days
Period Start Date 5/1/2024 7/1/2024 8/1/2024 9/3/2024 10/1/24
Period End Date 4/30/2025 6/30/2025 7/31/2025 8/29/2025 9/30/2025
Initial Cap 9.81% 9.45% 8.74% 7.50% 6.67%
Current Cap* 3.86% 5.65% 5.99% 6.23% 6.48%
Current Downside Before Protection* -5.54% -3.47% -2.53% -1.19% -0.17%
Current Protection Level* 94.46% 96.53% 97.47% 98.81% 99.83%
SPY Value at Period Start Date 501.98 544.22 550.81 563.68 573.76

*Current values are shown gross of management fees.

Top Holdings

As of 10/14/24
Holding %
Calamos S&P 500® Structured Alt Protection ETF™ - July 20.0%
Calamos S&P 500® Structured Alt Protection ETF™ - May 20.0%
Calamos S&P 500® Structured Alt Protection ETF™ - August 20.0%
Calamos S&P 500® Structured Alt Protection ETF™ - September 20.0%
Calamos S&P 500® Structured Alt Protection ETF™ - October 20.0%

Top holdings exclude cash and may not equal 100% due to rounding.

A list of all fund holdings is made available daily through the link below.

View All Holdings

Holdings and weightings are subject to change daily. Holdings are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

Pricing

Fund Details

As of 10/14/24
Detail Value
Ticker CPSL
NAV $25.38
Market Price $25.38
Premium/Discount 0.00%
Exchange Cboe BZX Exchange, Inc.
Inception Date 9/09/24

30 Day Median Bid/Ask

As of 10/14/24
30 Day Median Bid/Ask
0.16%

Premium / Discount

As of 10/14/24
Date Value
09/09/2024 0.04
09/10/2024 0.08
09/11/2024 0.12
09/12/2024 0
09/13/2024 0.2
09/16/2024 0.16
09/17/2024 0
09/18/2024 0.04
09/19/2024 0.08
09/20/2024 0.16
09/23/2024 0.28
09/24/2024 0.04
09/25/2024 -0.08
09/26/2024 0
09/27/2024 0.04
09/30/2024 0.12
10/01/2024 0.24
10/02/2024 0.12
10/03/2024 0.04
10/04/2024 0.08
10/07/2024 0.16
10/08/2024 0.04
10/09/2024 0.12
10/10/2024 0.04
10/11/2024 0
10/14/2024 0

Premium and Discount

As of 10/14/24
Q1 2024 Q2 2024 Q3 2024 Q4 2024
Days Traded at Premium -- 0 14 9
Days Traded at Discount -- 0 2 1

The above chart presents information about the difference between the daily market price for shares of the ETF and the ETF's net asset value. The market price displayed is the official closing price reported by the exchange​. The vertical axis of the chart shows the premium or discount expressed in basis points (bps). If the fund's market price exceeds its NAV, it is trading at a premium and is expressed by a positive value. If the fund's market price is below the NAV, the ETF is trading at a discount and is represented by a negative value. This value is recorded daily over the time period displayed along the horizontal axis.

Fees & Expenses

Fees & Expenses

Expenses %
Management Fees 0.10%
Distribution and/or Service Fees (12b-1) 0.00%
Other Expenses1 0.00%
Acquired Fund Fees and Other Expenses2 0.69%
Total Annual Fund Operating Expenses3 0.79%

Fund Information

Name Fund
Inception Date 9/09/24
Ticker Symbol CPSL
CUSIP number 12811T738

Expenses as of the prospectus dated 9/9/2024.

1“Other Expenses” is an estimate based on the expenses the Fund expects to incur for the current fiscal year.

2“Acquired Fund Fees and Expenses” include certain expenses incurred in connection with the Fund’s investment in various closed-end funds, exchange-traded funds (“ETFs”), and business development companies (“BDCs”). The amount shown is based on estimated amounts for the current fiscal year.

3The Total Annual Fund Operating Expenses in this fee table may not correlate to the expense ratios in the Fund’s financial highlights and financial statements because the financial highlights and financial statements reflect only the operating expenses of the Fund and do not include Acquired Fund Fees and Expenses, which are fees and expenses incurred indirectly by the Fund through its investments in certain underlying investment companies.

Literature

About the Fund

Calamos Laddered S&P 500 Structured Alt Protection ETF Investor Sheet

The Calamos Laddered S&P 500 Structured Alt Protection ETF investor sheet provides a snapshot of the investment team and product strategy.

Structured Protection ETFs Weekly Rate Sheet

Subscribe to the Weekly Rate Sheet to stay up to date on our caps and cap ranges.

Prospectus and Reports

Summary Prospectus

This summary contains important information about the investment objective, fees and expenses, principal investment strategies, principal risks and performance.

Statutory Prospectus

You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.

SAI

The statement of additional information is a supplementary document to the fund’s prospectus and contains additional information about the fund and includes further disclosure regarding its operations.

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.

©2024 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.

The personal data collected by Calamos on this website, or by any other means, is collected and stored in accordance with the General Data Protection Regulation (EU) 2016/679 ("GDPR").

Important Legal Information | Privacy Policy | Business Continuity | Code of Business Conduct and Ethics | ERISA 408(b)(2)

Important Fund Information

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.

An investment in the Fund is subject to risks, and you could lose money on your investment in the Fund. There can be no assurance that the Fund will achieve its investment objective. Your investment in the Fund 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 can increase during times of significant market volatility. The Fund also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

Investing involves risks. Loss of principal is possible. The Funds face numerous market trading risks, including authorized participation concentration risk, cap change risk, capital protection risk, capped upside risk, cash holdings risk, clearing member default risk, correlation risk, derivatives risk, equity securities risk, investment timing risk, large-capitalization investing risk, liquidity risk, market maker risk, market risk, non-diversification risk, options risk, premium-discount risk, secondary market trading risk, sector risk, tax risk, trading issues risk, underlying ETF risk and valuation risk. For a detailed list of fund risks see the prospectus.

FUND-OF-FUNDS RISK. Shareholders of the Fund will experience investment returns that are different than the investment returns provided by an Underlying ETF. The Fund does not itself pursue a defined outcome strategy, nor does the Fund itself provide downside protection against SPY losses. Because the Fund will typically not purchase an Underlying ETF on the first day of a Target Outcome Period, it is not likely that the stated outcome of the Underlying ETF will be realized by the Fund. The Fund will be continuously exposed to the investment profiles of each of the Underlying ETFs during their respective Target Outcome Periods. The Fund, with its aggregate exposure to each of the Underlying ETFs, may have investment returns that are inferior to that of any single Underlying ETF or group of Underlying ETFs over any given time period. In between the semi-annual rebalance period of the Index, because the Fund is not equally weighted on a continuous basis, the Fund may be exposed to one or more Underlying ETFs disproportionately when compared to other Underlying ETFs. In such circumstances, the Fund will be subject to the over-weighted performance of such Underlying ETF. As a shareholder in other ETFs, the Fund bears its proportionate share of each ETF's expenses, subjecting Fund shareholders to duplicative expenses.

There are no assurances the Underlying ETFs will be successful in providing the sought-after protection. The outcomes that the Underlying ETFs seek to provide may only be realized if you are holding shares on the first day of the outcome period and continue to hold them on the last day of the outcome period, approximately one year. There is no guarantee that the outcomes for an outcome period will be realized or that the Underlying ETFs will achieve its investment objective. If the outcome period has begun and the underlying ETF has increased in value, any appreciation of the Fund(s) by virtue of increases in the underlying ETF since the commencement of the outcome period will not be protected by the sought-after protection, and an investor could experience losses until the underlying ETF returns to the original price at the commencement of the outcome period. The Underlying ETFs are subject to an upside return cap (the "Cap") that represents the maximum percentage return an investor can achieve from an investment in the fund(s) for the outcome period, before fees and expenses. If the outcome period has begun and the Underlying ETFs have increased in value to a level near to their individual Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one outcome period to the next. Unlike the Underlying ETFs, the Fund itself does not pursue a target outcome strategy. The protection is only provided by the Underlying ETFs and the Fund itself does not provide any stated downside protection against losses. The Fund will likely not receive the full benefit of the Underlying ETF downside protections and could have limited upside potential. The Fund's returns are limited by the caps of the Underlying ETFs.

The Funds' total annual fund operating expenses as of the prospectus dated 9/9/2024 is 0.79%.

CAP Rate - Maximum percentage return an investor can achieve from an investment in the Fund if held over the Outcome Period.

Protection Level - Amount of protection the Fund is designed to achieve over the Days Remaining.

Outcome Period - The defined length of time over which the outcomes are sought.

The S&P 500 Price Index (SPX) tracks the price return of the S&P 500 Index, which is generally considered representative of the US stock market.

The MerQube Capital Protected US Large Cap Index provides an outcome in which the Index provides upside participation in the returns of the SPDR S&P 500 ETF (SPY) until a "cap" that is at least 1% for every 1 years. In some cases, the protection is lowered from the maximum of 100% to provide a minimum "cap" of 1%.

The "S&P 500®" is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"), and has been licensed for use by Calamos Advisors LLC ("Calamos Advisors"). S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Calamos Advisors LLC ("Calamos Advisors"). It is not possible to invest directly in an index. Calamos S&P 500® Structured Protection ETFs are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Calamos S&P 500® Structured Protection ETFs or any member of the public regarding the advisability of investing in securities generally or in Calamos S&P 500® Structured Protection ETFs particularly or the ability of the "S&P 500®" to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to Calamos Advisors LLC ("Calamos Advisors") with respect to the "S&P 500®" is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The "S&P 500®" is determined, composed and calculated by S&P Dow Jones Indices without regard to Calamos Advisors LLC ("Calamos Advisors") or the Calamos S&P 500® Structured Protection ETFs. S&P Dow Jones Indices has no obligation to take the needs of Calamos Advisors LLC ("Calamos Advisors") or the owners of Calamos S&P 500® Structured Protection ETFs into consideration in determining, composing or calculating the "S&P 500®". S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of Calamos S&P 500® Structured Protection ETFs. There is no assurance that investment products based on the "S&P 500®" will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C. § 77k(a) or tax advisor.

NEITHER S&P DOW JONES INDICES NOR THIRD PARTY LICENSOR GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE "S&P 500®" OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY CALAMOS ADVISORS LLC ("CALAMOS ADVISORS"), OWNERS OF THE CALAMOS S&P 500® STRUCTURED PROTECTION ETFS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE "S&P 500®" OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE LICENSEE PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND CALAMOS ADVISORS LLC ("CALAMOS ADVISORS"), OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

Notes

Market price refers to the price at which shares of the fund trade in the market.

NAV or Net asset value refers to the net value of all the assets held in the fund on a per share basis.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by S&P Global Market Intelligence LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. "CUSIP" is a registered trademark of the American Bankers Association.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE