CPSD vs. JANB
CPSD (Calamos S&P 500 Structured Alt Protection ETF - December) and JANB (Aptus January Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. CPSD charges 0.69%/yr vs 0.25%/yr for JANB.
Performance
CPSD vs. JANB - Performance Comparison
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Returns By Period
In the year-to-date period, CPSD achieves a 2.38% return, which is significantly lower than JANB's 5.32% return.
CPSD
- 1D
- -0.24%
- 1M
- 0.21%
- YTD
- 2.38%
- 6M
- 2.44%
- 1Y
- 8.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JANB
- 1D
- -0.50%
- 1M
- -0.15%
- YTD
- 5.32%
- 6M
- 5.27%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPSD vs. JANB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPSD Calamos S&P 500 Structured Alt Protection ETF - December | 2.38% | 1.95% |
JANB Aptus January Buffer ETF | 5.32% | 2.76% |
Correlation
The correlation between CPSD and JANB is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.81 |
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Return for Risk
CPSD vs. JANB — Risk / Return Rank
CPSD
JANB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CPSD vs. JANB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos S&P 500 Structured Alt Protection ETF - December (CPSD) and Aptus January Buffer ETF (JANB). 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.
| CPSD | JANB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.66 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.79 | — | — |
| Martin ratioReturn relative to average drawdown | 28.39 | — | — |
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Drawdowns
CPSD vs. JANB - Drawdown Comparison
The maximum CPSD drawdown since its inception was -3.45%, smaller than the maximum JANB drawdown of -6.52%. Use the drawdown chart below to compare losses from any high point for CPSD and JANB.
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Drawdown Indicators
| CPSD | JANB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.45% | -6.52% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.97% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -0.46% | -1.10% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | — | — |
Volatility
CPSD vs. JANB - Volatility Comparison
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Volatility by Period
| CPSD | JANB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 7.51% | -4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.38% | 7.51% | -4.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.38% | 7.51% | -4.13% |
CPSD vs. JANB - Expense Ratio Comparison
CPSD has a 0.69% expense ratio, which is higher than JANB's 0.25% expense ratio.
Dividends
CPSD vs. JANB - Dividend Comparison
Neither CPSD nor JANB has paid dividends to shareholders.
Frequently Asked Questions
CPSD and JANB have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JANB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JANB is cheaper with a 0.25% expense ratio, compared with 0.69% for CPSD.
CPSD and JANB have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Calamos and Aptus Capital Advisors. Their fees differ too: 0.69% for CPSD and 0.25% for JANB.
Find the right allocation for CPSD and JANB
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