CPRJ vs. AIOO

Last updated Apr 7, 2026

Compare and contrast key facts about Calamos Russell 2000 Structured Alt Protection ETF - July (CPRJ) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO).

CPRJ and AIOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CPRJ is a passively managed fund by Calamos that tracks the performance of the MerQube Cap Protect US Small Cap PR Index - Jul. It was launched on Jul 1, 2024. AIOO is an actively managed fund by Allianz. It was launched on Jun 30, 2025.

Performance

CPRJ vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Russell 2000 Structured Alt Protection ETF - July (CPRJ) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPRJ achieves a 1.07% return, which is significantly higher than AIOO's -0.09% return.

CPRJ

• 1D: 0.07%
• 1M: 0.38%
• YTD: 1.07%
• 6M: 2.19%
• 1Y: 11.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIOO

• 1D: -0.10%
• 1M: -0.21%
• YTD: -0.09%
• 6M: 0.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPRJ vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
CPRJ Calamos Russell 2000 Structured Alt Protection ETF - July	1.07%	3.71%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	-0.09%	2.67%

Correlation

The correlation between CPRJ and AIOO is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

CPRJ vs. AIOO - Expense Ratio Comparison

CPRJ has a 0.69% expense ratio, which is higher than AIOO's 0.64% expense ratio.

CPRJ

Calamos Russell 2000 Structured Alt Protection ETF - July

AIOO

AllianzIM U.S. Equity Buffer100 Protection ETF

Return for Risk

CPRJ vs. AIOO — Risk / Return Rank

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

CPRJ

CPRJ Risk / Return Rank: 88
CPRJ Sharpe Ratio Rank: 79
CPRJ Sortino Ratio Rank: 86
CPRJ Omega Ratio Rank: 89
CPRJ Calmar Ratio Rank: 94
CPRJ Martin Ratio Rank: 94

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.

CPRJ vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Russell 2000 Structured Alt Protection ETF - July (CPRJ) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

	CPRJ	AIOO	Difference
Sharpe ratio Return per unit of total volatility	2.14	—	—
Sortino ratio Return per unit of downside risk	3.50	—	—
Omega ratio Gain probability vs. loss probability	1.52	—	—
Calmar ratio Return relative to maximum drawdown	4.71	—	—
Martin ratio Return relative to average drawdown	17.64	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CPRJ	AIOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.73	-0.56

Drawdowns

CPRJ vs. AIOO - Drawdown Comparison

The maximum CPRJ drawdown since its inception was -6.25%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for CPRJ and AIOO.

Drawdown Indicators

	CPRJ	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-6.25%	-0.74%	-5.51%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	—	—
Current Drawdown Current decline from peak	-0.22%	-0.54%	+0.32%
Average Drawdown Average peak-to-trough decline	-0.96%	-0.19%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	—	—

Volatility

Volatility by Period

	CPRJ	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.21%	1.98%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.34%	1.98%	+3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.34%	1.98%	+3.36%

Dividends

CPRJ vs. AIOO - Dividend Comparison

Neither CPRJ nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments