Calamos Nasdaq-100 Structured Alt Protection ETF - September (CPNS) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with CPNS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to CPNS
CPNS charges 0.69% annually. There are 42 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | CPNS vs APRB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | CPNS vs OCTB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | CPNS vs JANB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | CPNS vs JULB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | CPNS vs FBUF |
Best Risk-Adjusted Alternatives to CPNS
CPNS has a PortfoliosLab risk / return rank of 95. There are 41 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | CPNS vs PMAP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | CPNS vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | CPNS vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | CPNS vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 132.07M | Mar 2021 | CPNS vs XBAP |
Top Performing CPNS Alternatives (YTD)
CPNS is at 3.94% YTD. There are 211 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | CPNS vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 15.61% | 2.87M | Jun 2025 | CPNS vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 15.29% | — | Jan 2025 | CPNS vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 14.35% | 214.27M | Mar 2020 | CPNS vs KAPR | |
| FT Vest U.S. Equity Uncapped Accelerator ETF - Jan... | 14.32% | — | Jan 2025 | CPNS vs UXJA |
Lowest Volatility Alternatives to CPNS
CPNS has 2.17% 1-year volatility. There are 31 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | CPNS vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.37% | — | Apr 2025 | CPNS vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | CPNS vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.42% | — | Apr 2025 | CPNS vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.45% | — | Mar 2025 | CPNS vs MMAX |
Lowest Drawdown Alternatives to CPNS
CPNS has a 1-year max drawdown of -1.31%. There are 26 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | CPNS vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | CPNS vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | CPNS vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | CPNS vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | CPNS vs CPSM |
Other ETFs from Calamos
The 10 most viewed Calamos ETFs shown here include CAIE, CVRT, CAIQ and span 9 categories. AUM among these funds goes as high as $1B.
Often Compared With CPNS
Investors most often compare CPNS with TWOX, TMAR, SROI. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare CPNS with Any Fund or Stock
Compare CPNS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair CPNS with funds that move differently
Calamos Nasdaq-100 Structured Alt Protection ETF - September alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CPNS.
Explore CPNS Diversifiers