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. A 0.80 correlation means they provide meaningful diversification when combined. 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 1.95% return, which is significantly lower than BALQ's 18.59% return.
CPNJ
- 1D
- -0.32%
- 1M
- -0.38%
- YTD
- 1.95%
- 6M
- 2.15%
- 1Y
- 5.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BALQ
- 1D
- -3.11%
- 1M
- -0.12%
- YTD
- 18.59%
- 6M
- 17.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPNJ vs. BALQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPNJ Calamos Nasdaq-100 Structured Alt Protection ETF - June | 1.95% | 0.47% |
BALQ iShares Nasdaq Premium Income Active ETF | 18.59% | 0.04% |
Correlation
The correlation between CPNJ and BALQ is 0.80, 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 Dec 3, 2025 | 0.80 |
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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 | 1.55 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.47 | — | — |
| Martin ratioReturn relative to average drawdown | 26.95 | — | — |
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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 | -0.58% | -3.71% | +3.13% |
Average DrawdownAverage peak-to-trough decline | -0.42% | -2.40% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | — | — |
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 | 1.16% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.27% | 20.62% | -18.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.09% | 20.62% | -15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 20.62% | -15.53% |
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 4.76%.
| Position | TTM | 2025 |
|---|---|---|
BALQ iShares Nasdaq Premium Income Active ETF | 4.76% | 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 0.80, 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 4.76%, 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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