Calamos S&P 500 Structured Alt Protection ETF - October (CPSO) 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 CPSO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to CPSO
CPSO 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 July Buffer ETF | 0.25% | — | Oct 2025 | CPSO vs JULB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | CPSO vs APRB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | CPSO vs JANB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | CPSO vs OCTB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | CPSO vs FBUF |
Best Risk-Adjusted Alternatives to CPSO
CPSO has a PortfoliosLab risk / return rank of 95. There are 52 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 | CPSO vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | CPSO vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | CPSO vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | CPSO vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | CPSO vs CPRA |
Top Performing CPSO Alternatives (YTD)
CPSO is at 3.56% YTD. There are 209 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 | CPSO vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.84% | 2.87M | Jun 2025 | CPSO vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.73% | — | Jan 2025 | CPSO vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.09% | 214.27M | Mar 2020 | CPSO vs KAPR | |
| Innovator U.S. Equity Buffer ETF - April | 11.91% | 403.09M | Mar 2019 | CPSO vs BAPR |
Lowest Volatility Alternatives to CPSO
CPSO has 2.21% 1-year volatility. There are 35 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 | CPSO vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.33% | — | Apr 2025 | CPSO vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | CPSO vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | CPSO vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | CPSO vs MMAX |
Lowest Drawdown Alternatives to CPSO
CPSO has a 1-year max drawdown of -1.45%. There are 37 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 | CPSO vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | CPSO vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | CPSO vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | CPSO vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | CPSO 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 CPSO
Investors most often compare CPSO with CPNS, PMOC, BWET. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare CPSO with Any Fund or Stock
Compare CPSO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair CPSO with funds that move differently
Calamos S&P 500 Structured Alt Protection ETF - October alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CPSO.
Explore CPSO Diversifiers