Calamos S&P 500 Structured Alt Protection ETF - January (CPSY) 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 CPSY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to CPSY
CPSY charges 0.69% annually. There are 41 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 | CPSY vs JULB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | CPSY vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | CPSY vs APRB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | CPSY vs OCTB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | CPSY vs FBUF |
Best Risk-Adjusted Alternatives to CPSY
CPSY has a PortfoliosLab risk / return rank of 95. There are 30 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 | CPSY vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | CPSY vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | CPSY vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | CPSY vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 134.85M | Mar 2021 | CPSY vs XBAP |
Top Performing CPSY Alternatives (YTD)
CPSY is at 2.75% YTD. There are 244 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 | CPSY vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.68% | — | Jan 2025 | CPSY vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.02% | 214.51M | Mar 2020 | CPSY vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 12.77% | 568.10M | Mar 2021 | CPSY vs QMAR | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 12.67% | 2.84M | Jun 2025 | CPSY vs QB |
Lowest Volatility Alternatives to CPSY
CPSY has 1.99% 1-year volatility. There are 13 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.15%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.15% | — | Mar 2025 | CPSY vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.24% | — | Apr 2025 | CPSY vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.31% | — | Apr 2025 | CPSY vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.34% | 19.60M | Apr 2025 | CPSY vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.42% | — | Mar 2025 | CPSY vs MMAX |
Lowest Drawdown Alternatives to CPSY
CPSY has a 1-year max drawdown of -1.35%. There are 28 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 | CPSY vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | CPSY vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | CPSY vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | CPSY vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | CPSY 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 CPSY
Investors most often compare CPSY with BNO, CPSJ, PBOG. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare CPSY with Any Fund or Stock
Compare CPSY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair CPSY with funds that move differently
Calamos S&P 500 Structured Alt Protection ETF - January alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CPSY.
Explore CPSY Diversifiers