CPRO vs. STEN
CPRO (Calamos Russell 2000 Structured Alt Protection ETF - October) and STEN (iShares Large Cap 10% Target Buffer Sep ETF) are both Defined Outcome funds. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. CPRO charges 0.69%/yr vs 0.50%/yr for STEN.
Performance
CPRO vs. STEN - Performance Comparison
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Returns By Period
In the year-to-date period, CPRO achieves a 4.26% return, which is significantly lower than STEN's 6.53% return.
CPRO
- 1D
- -0.12%
- 1M
- 0.82%
- YTD
- 4.26%
- 6M
- 4.01%
- 1Y
- 13.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
STEN
- 1D
- -0.86%
- 1M
- -0.34%
- YTD
- 6.53%
- 6M
- 6.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPRO vs. STEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPRO Calamos Russell 2000 Structured Alt Protection ETF - October | 4.26% | 1.05% |
STEN iShares Large Cap 10% Target Buffer Sep ETF | 6.53% | 2.36% |
Correlation
The correlation between CPRO and STEN is 0.77, 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 Oct 1, 2025 | 0.77 |
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Return for Risk
CPRO vs. STEN — Risk / Return Rank
CPRO
STEN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CPRO vs. STEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Russell 2000 Structured Alt Protection ETF - October (CPRO) and iShares Large Cap 10% Target Buffer Sep ETF (STEN). 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.
| CPRO | STEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.65 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 7.50 | — | — |
| Martin ratioReturn relative to average drawdown | 27.79 | — | — |
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Drawdowns
CPRO vs. STEN - Drawdown Comparison
The maximum CPRO drawdown since its inception was -3.36%, smaller than the maximum STEN drawdown of -6.21%. Use the drawdown chart below to compare losses from any high point for CPRO and STEN.
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Drawdown Indicators
| CPRO | STEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.36% | -6.21% | +2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.77% | — | — |
Current DrawdownCurrent decline from peak | -0.12% | -1.47% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -0.93% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | — | — |
Volatility
CPRO vs. STEN - Volatility Comparison
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Volatility by Period
| CPRO | STEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.48% | 9.46% | -4.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.13% | 9.46% | -5.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 9.46% | -5.33% |
CPRO vs. STEN - Expense Ratio Comparison
CPRO has a 0.69% expense ratio, which is higher than STEN's 0.50% expense ratio.
Dividends
CPRO vs. STEN - Dividend Comparison
CPRO has not paid dividends to shareholders, while STEN's dividend yield for the trailing twelve months is around 0.29%.
| Position | TTM | 2025 |
|---|---|---|
CPRO Calamos Russell 2000 Structured Alt Protection ETF - October | 0.00% | 0.00% |
STEN iShares Large Cap 10% Target Buffer Sep ETF | 0.29% | 0.31% |
Frequently Asked Questions
CPRO and STEN have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, STEN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
STEN is cheaper with a 0.50% expense ratio, compared with 0.69% for CPRO.
STEN has the higher dividend yield at 0.29%, compared with 0.00% for CPRO.
They also come from different issuers: Calamos and BlackRock. Their fees differ too: 0.69% for CPRO and 0.50% for STEN.
Find the right allocation for CPRO and STEN
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