CPNM vs. PRXV

Last updated Jun 24, 2026

CPNM (Calamos Nasdaq-100 Structured Alt Protection ETF - March) and PRXV (Praxis Impact Large Cap Value ETF) are both exchange-traded funds - CPNM is a Defined Outcome fund tracking the Nasdaq-100 Index Price Return, while PRXV is a Large Cap Value Equities fund actively managed by Praxis. CPNM is passively managed, while PRXV is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. CPNM charges 0.69%/yr vs 0.36%/yr for PRXV.

Performance

CPNM vs. PRXV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Nasdaq-100 Structured Alt Protection ETF - March (CPNM) and Praxis Impact Large Cap Value ETF (PRXV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CPNM

• 1D: -0.19%
• 1M: 0.02%
• YTD: 2.69%
• 6M: 3.03%
• 1Y: 7.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PRXV

• 1D: -0.29%
• 1M: 3.50%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CPNM vs. PRXV - Yearly Performance Comparison

	2026 (YTD)
CPNM Calamos Nasdaq-100 Structured Alt Protection ETF - March	0.88%
PRXV Praxis Impact Large Cap Value ETF	6.54%

Correlation

The correlation between CPNM and PRXV is 0.53, 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 Apr 20, 2026	0.53

Return for Risk

CPNM vs. PRXV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CPNM

CPNM Risk / Return Rank: 96
CPNM Sharpe Ratio Rank: 96
CPNM Sortino Ratio Rank: 97
CPNM Omega Ratio Rank: 97
CPNM Calmar Ratio Rank: 95
CPNM Martin Ratio Rank: 97

PRXV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CPNM vs. PRXV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq-100 Structured Alt Protection ETF - March (CPNM) and Praxis Impact Large Cap Value ETF (PRXV). 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.

	CPNM	PRXV	Difference
Sharpe ratio: Return per unit of total volatility	3.65	—	—
Sortino ratio: Return per unit of downside risk	5.92	—	—
Omega ratio: Gain probability vs. loss probability	1.79	—	—
Calmar ratio: Return relative to maximum drawdown	7.03	—	—
Martin ratio: Return relative to average drawdown	37.63	—	—

Drawdowns

CPNM vs. PRXV - Drawdown Comparison

The maximum CPNM drawdown since its inception was -2.19%, which is greater than PRXV's maximum drawdown of -1.41%. Use the drawdown chart below to compare losses from any high point for CPNM and PRXV.

Drawdown Indicators

	CPNM	PRXV	Difference
Max Drawdown Largest peak-to-trough decline	-2.19%	-1.41%	-0.78%
Max Drawdown (1Y) Largest decline over 1 year	-1.03%	—	—
Current Drawdown Current decline from peak	-0.34%	-0.29%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.41%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	—	—

Volatility

Volatility by Period

	CPNM	PRXV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	10.64%	-8.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.84%	10.64%	-7.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.84%	10.64%	-7.80%

CPNM vs. PRXV - Expense Ratio Comparison

CPNM has a 0.69% expense ratio, which is higher than PRXV's 0.36% expense ratio.

Dividends

CPNM vs. PRXV - Dividend Comparison

Neither CPNM nor PRXV has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CPNM and PRXV in my portfolio?

CPNM and PRXV have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPNM or PRXV?

On fees, PRXV is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPNM or PRXV?

PRXV is cheaper with a 0.36% expense ratio, compared with 0.69% for CPNM.

Which ETF pays a higher dividend yield, CPNM or PRXV?

CPNM and PRXV have nearly identical dividend yields, around 0.00%.

What is the main difference between CPNM and PRXV?

CPNM is categorized as Defined Outcome, while PRXV is Large Cap Value Equities. They also come from different issuers: Calamos and Praxis. Their fees differ too: 0.69% for CPNM and 0.36% for PRXV.