Calamos Laddered S&P 500 Structured Alt Protection ETF (CPSL) 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 CPSL. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to CPSL
CPSL charges 0.79% annually. There are 92 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | CPSL vs OCTB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | CPSL vs JULB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | CPSL vs APRB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | CPSL vs JANB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | CPSL vs FBUF |
Best Risk-Adjusted Alternatives to CPSL
CPSL has a PortfoliosLab risk / return rank of 95. There are 44 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 | CPSL vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | CPSL vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | CPSL vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | CPSL vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 134.85M | Mar 2021 | CPSL vs XBAP |
Top Performing CPSL Alternatives (YTD)
CPSL is at 2.99% YTD. There are 227 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 | CPSL vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.34% | — | Jan 2025 | CPSL vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 12.71% | 214.51M | Mar 2020 | CPSL vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 12.33% | 568.10M | Mar 2021 | CPSL vs QMAR | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 12.15% | 2.84M | Jun 2025 | CPSL vs QB |
Lowest Volatility Alternatives to CPSL
CPSL has 2.22% 1-year volatility. There are 37 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.16%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.16% | — | Mar 2025 | CPSL vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.24% | — | Apr 2025 | CPSL vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.31% | — | Apr 2025 | CPSL vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.34% | 19.60M | Apr 2025 | CPSL vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.42% | — | Mar 2025 | CPSL vs MMAX |
Lowest Drawdown Alternatives to CPSL
CPSL has a 1-year max drawdown of -1.18%. There are 22 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 | CPSL vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | CPSL vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | CPSL vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | CPSL vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | CPSL vs CPSM |
Other ETFs from Calamos
The 10 most viewed Calamos ETFs shown here include CAIE, CVRT, CAIQ and span 7 categories. AUM among these funds goes as high as $269M.
Often Compared With CPSL
Investors most often compare CPSL with TMAR, CPRJ, VOO. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare CPSL with Any Fund or Stock
Compare CPSL with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair CPSL with funds that move differently
Calamos Laddered S&P 500 Structured Alt Protection ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CPSL.
Explore CPSL Diversifiers