APRB vs. CPNQ
APRB (Aptus April Buffer ETF) and CPNQ (Calamos Nasdaq-100 Structured Alt Protection ETF - December) are both Defined Outcome funds. Both are actively managed. A 0.76 correlation means they provide meaningful diversification when combined. APRB charges 0.25%/yr vs 0.69%/yr for CPNQ.
Performance
APRB vs. CPNQ - Performance Comparison
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Returns By Period
In the year-to-date period, APRB achieves a 4.77% return, which is significantly higher than CPNQ's 3.12% return.
APRB
- 1D
- -0.11%
- 1M
- 1.69%
- YTD
- 4.77%
- 6M
- 5.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPNQ
- 1D
- 0.03%
- 1M
- 1.03%
- YTD
- 3.12%
- 6M
- 3.32%
- 1Y
- 8.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
APRB vs. CPNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
APRB Aptus April Buffer ETF | 4.77% | 2.48% |
CPNQ Calamos Nasdaq-100 Structured Alt Protection ETF - December | 3.12% | 1.50% |
Correlation
The correlation between APRB and CPNQ is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025 | 0.76 |
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Return for Risk
APRB vs. CPNQ — Risk / Return Rank
APRB
CPNQ
APRB vs. CPNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aptus April Buffer ETF (APRB) and Calamos Nasdaq-100 Structured Alt Protection ETF - December (CPNQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| APRB | CPNQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.00 | 2.24 | -0.24 |
Drawdowns
APRB vs. CPNQ - Drawdown Comparison
The maximum APRB drawdown since its inception was -4.59%, which is greater than CPNQ's maximum drawdown of -3.52%. Use the drawdown chart below to compare losses from any high point for APRB and CPNQ.
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Drawdown Indicators
| APRB | CPNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.59% | -3.52% | -1.07% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.52% | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.04% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -0.43% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.30% | — |
Volatility
APRB vs. CPNQ - Volatility Comparison
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Volatility by Period
| APRB | CPNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.47% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 2.64% | +3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 3.37% | +2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.98% | 3.37% | +2.61% |
APRB vs. CPNQ - Expense Ratio Comparison
APRB has a 0.25% expense ratio, which is lower than CPNQ's 0.69% expense ratio.
Dividends
APRB vs. CPNQ - Dividend Comparison
Neither APRB nor CPNQ has paid dividends to shareholders.
Frequently Asked Questions
APRB and CPNQ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, APRB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
APRB is cheaper with a 0.25% expense ratio, compared with 0.69% for CPNQ.
APRB and CPNQ have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Aptus Capital Advisors and Calamos. Their fees differ too: 0.25% for APRB and 0.69% for CPNQ.
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