CPNJ vs. BALQ
CPNJ (Calamos Nasdaq-100 Structured Alt Protection ETF - June) and BALQ (iShares Nasdaq Premium Income Active ETF) are both Nasdaq-100 funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. CPNJ charges 0.69%/yr vs 0.35%/yr for BALQ.
Performance
CPNJ vs. BALQ - Performance Comparison
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Returns By Period
In the year-to-date period, CPNJ achieves a 2.00% return, which is significantly lower than BALQ's 17.54% return.
CPNJ
- 1D
- -0.24%
- 1M
- -0.33%
- 6M
- 1.72%
- YTD
- 2.00%
- 1Y
- 5.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BALQ
- 1D
- -1.81%
- 1M
- -2.86%
- 6M
- 15.73%
- YTD
- 17.54%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPNJ vs. BALQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPNJ Calamos Nasdaq-100 Structured Alt Protection ETF - June | 2.00% | 0.47% |
BALQ iShares Nasdaq Premium Income Active ETF | 17.54% | 0.04% |
Correlation
The correlation between CPNJ and BALQ is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025 | 0.83 |
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Return for Risk
CPNJ vs. BALQ — Risk / Return Rank
CPNJ
BALQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CPNJ vs. BALQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq-100 Structured Alt Protection ETF - June (CPNJ) and iShares Nasdaq Premium Income Active ETF (BALQ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CPNJ | BALQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.44 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.82 | — | — |
| Martin ratioReturn relative to average drawdown | 20.85 | — | — |
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Drawdowns
CPNJ vs. BALQ - Drawdown Comparison
The maximum CPNJ drawdown since its inception was -5.99%, smaller than the maximum BALQ drawdown of -11.79%. Use the drawdown chart below to compare losses from any high point for CPNJ and BALQ.
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Drawdown Indicators
| CPNJ | BALQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.99% | -11.79% | +5.80% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | — | — |
Current DrawdownCurrent decline from peak | -0.52% | -4.56% | +4.04% |
Average DrawdownAverage peak-to-trough decline | -0.42% | -2.47% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | — | — |
Volatility
CPNJ vs. BALQ - Volatility Comparison
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Volatility by Period
| CPNJ | BALQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.37% | 20.86% | -18.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.04% | 20.86% | -15.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 20.86% | -15.82% |
CPNJ vs. BALQ - Expense Ratio Comparison
CPNJ has a 0.69% expense ratio, which is higher than BALQ's 0.35% expense ratio.
Dividends
CPNJ vs. BALQ - Dividend Comparison
CPNJ has not paid dividends to shareholders, while BALQ's dividend yield for the trailing twelve months is around 6.12%.
| Position | TTM | 2025 |
|---|---|---|
BALQ iShares Nasdaq Premium Income Active ETF | 6.12% | 0.95% |
CPNJ Calamos Nasdaq-100 Structured Alt Protection ETF - June | 0.00% | 0.00% |
Frequently Asked Questions
CPNJ and BALQ have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BALQ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BALQ is cheaper with a 0.35% expense ratio, compared with 0.69% for CPNJ.
BALQ has the higher dividend yield at 6.12%, compared with 0.00% for CPNJ.
They also come from different issuers: Calamos and iShares. Their fees differ too: 0.69% for CPNJ and 0.35% for BALQ.
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