CPRJ vs. JULB

Last updated Aug 2, 2026

CPRJ (Calamos Russell 2000 Structured Alt Protection ETF - July) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. CPRJ is passively managed, while JULB is actively managed. Their 0.66 correlation means they have sometimes moved together and sometimes differently. CPRJ charges 0.69%/yr vs 0.25%/yr for JULB.

Performance

CPRJ vs. JULB - 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 Aptus July Buffer ETF (JULB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPRJ achieves a 3.12% return, which is significantly lower than JULB's 8.08% return.

CPRJ

• 1D: -0.11%
• 1M: -0.14%
• 6M: 2.28%
• YTD: 3.12%
• 1Y: 7.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.87%

JULB

• 1D: 0.54%
• 1M: 0.57%
• 6M: 7.15%
• YTD: 8.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CPRJ Calamos Russell 2000 Structured Alt Protection ETF - July	$492.45K	$690.59K	$374.92K
JULB Aptus July Buffer ETF	$122.17K	$181.25K	$221.75K

CPRJ vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
CPRJ Calamos Russell 2000 Structured Alt Protection ETF - July	3.12%	1.02%
JULB Aptus July Buffer ETF	8.08%	2.44%

Correlation

The correlation between CPRJ and JULB is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.66

Return for Risk

CPRJ vs. JULB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CPRJ

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

JULB

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CPRJ vs. JULB - 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 Aptus July Buffer ETF (JULB). 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.

	CPRJ	JULB	Difference
Sharpe ratio: Return per unit of total volatility	2.76	—	—
Sortino ratio: Return per unit of downside risk	4.55	—	—
Omega ratio: Gain probability vs. loss probability	1.57	—	—
Calmar ratio: Return relative to maximum drawdown	6.37	—	—
Martin ratio: Return relative to average drawdown	25.23	—	—

Drawdowns

CPRJ vs. JULB - Drawdown Comparison

The maximum CPRJ drawdown since its inception was -6.25%, which is greater than JULB's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for CPRJ and JULB.

Drawdown Indicators

	CPRJ	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-6.25%	-5.24%	-1.01%
Max Drawdown (1Y) Largest decline over 1 year	-1.07%	—	—
Current Drawdown Current decline from peak	-0.25%	-0.20%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.83%	-0.78%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.27%	—	—

Volatility

Volatility by Period

	CPRJ	JULB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.48%	6.81%	-4.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.99%	6.81%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	6.81%	-1.82%

CPRJ vs. JULB - Expense Ratio Comparison

CPRJ has a 0.69% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

CPRJ vs. JULB - Dividend Comparison

Neither CPRJ nor JULB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CPRJ and JULB in my portfolio?

CPRJ and JULB have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPRJ or JULB?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPRJ or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.69% for CPRJ.

Which ETF pays a higher dividend yield, CPRJ or JULB?

CPRJ and JULB have nearly identical dividend yields, around 0.00%.

What is the main difference between CPRJ and JULB?

They also come from different issuers: Calamos and Aptus. Their fees differ too: 0.69% for CPRJ and 0.25% for JULB.