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CPSL vs. QVMT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CPSL vs. QVMT

Last updated Apr 14, 2026

CPSL (Calamos Laddered S&P 500 Structured Alt Protection ETF) and QVMT (Invesco S&P S&P 500 Concentrated QVM ETF) are both exchange-traded funds — CPSL is a Defined Outcome fund actively managed by Calamos, while QVMT is a S&P 500 fund tracking the S&P 500 Quality, Value & Momentum Multi-factor Index. CPSL is actively managed, while QVMT is passively managed. Over the past year, CPSL returned 9.02% vs 34.44% for QVMT. At 0.50, their price movements are largely independent. CPSL charges 0.79%/yr vs 0.13%/yr for QVMT.

Performance

CPSL vs. QVMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Laddered S&P 500 Structured Alt Protection ETF (CPSL) and Invesco S&P S&P 500 Concentrated QVM ETF (QVMT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CPSL achieves a 1.27% return, which is significantly lower than QVMT's 9.82% return.

CPSL

1D
0.26%
1M
1.18%
YTD
1.27%
6M
2.46%
1Y
9.02%
3Y*
—
5Y*
—
10Y*
—

QVMT

1D
0.62%
1M
4.58%
YTD
9.82%
6M
18.00%
1Y
34.44%
3Y*
18.37%
5Y*
11.91%
10Y*
12.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CPSL vs. QVMT - Yearly Performance Comparison

2026 (YTD)20252024
CPSL
Calamos Laddered S&P 500 Structured Alt Protection ETF		1.27%6.43%2.32%
QVMT
Invesco S&P S&P 500 Concentrated QVM ETF		9.82%19.08%2.06%

Correlation

The correlation between CPSL and QVMT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2024

0.50

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Calamos Laddered S&P 500 Structured Alt Protection ETF

Invesco S&P S&P 500 Concentrated QVM ETF

Often compared with CPSL:
CPSL vs. CPRJCPSL vs. BALTCPSL vs. AIOOCPSL vs. BAPRCPSL vs. BUFPCPSL vs. CAIQCPSL vs. CAIE
Often compared with QVMT:
QVMT vs. SPVMQVMT vs. VOOQVMT vs. XCLRQVMT vs. IGMQVMT vs. RSPUQVMT vs. IVVQVMT vs. SPMO

Return for Risk

CPSL vs. QVMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CPSL
CPSL Risk / Return Rank: 9393
Overall Rank
CPSL Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
CPSL Sortino Ratio Rank: 9595
Sortino Ratio Rank
CPSL Omega Ratio Rank: 9292
Omega Ratio Rank
CPSL Calmar Ratio Rank: 9393
Calmar Ratio Rank
CPSL Martin Ratio Rank: 9696
Martin Ratio Rank
QVMT
QVMT Risk / Return Rank: 7676
Overall Rank
QVMT Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
QVMT Sortino Ratio Rank: 7676
Sortino Ratio Rank
QVMT Omega Ratio Rank: 6868
Omega Ratio Rank
QVMT Calmar Ratio Rank: 8484
Calmar Ratio Rank
QVMT Martin Ratio Rank: 7979
Martin Ratio Rank
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.

CPSL vs. QVMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Laddered S&P 500 Structured Alt Protection ETF (CPSL) and Invesco S&P S&P 500 Concentrated QVM ETF (QVMT). 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.

CPSLQVMTDifference

Sharpe ratio

Return per unit of total volatility

3.19

2.64

+0.55

Sortino ratio

Return per unit of downside risk

5.31

3.76

+1.55

Omega ratio

Gain probability vs. loss probability

1.68

1.45

+0.22

Calmar ratio

Return relative to maximum drawdown

6.59

5.07

+1.51

Martin ratio

Return relative to average drawdown

32.84

17.17

+15.67

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPSL vs. QVMT - Sharpe Ratio Comparison

The current CPSL Sharpe Ratio is 3.19, which is comparable to the QVMT Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of CPSL and QVMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CPSLQVMTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.19

2.64

+0.55

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.69

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.59

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.85

0.56

+1.28

Drawdowns

CPSL vs. QVMT - Drawdown Comparison

The maximum CPSL drawdown since its inception was -3.72%, smaller than the maximum QVMT drawdown of -48.05%. Use the drawdown chart below to compare losses from any high point for CPSL and QVMT.

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Drawdown Indicators

CPSLQVMTDifference

Max Drawdown

Largest peak-to-trough decline

-3.72%

-48.05%

+44.33%

Max Drawdown (1Y)

Largest decline over 1 year

-1.34%

-6.25%

+4.91%

Max Drawdown (5Y)

Largest decline over 5 years

—

-21.95%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-48.05%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-0.36%

-6.42%

+6.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.27%

1.85%

-1.58%

Volatility

CPSL vs. QVMT - Volatility Comparison

The current volatility for Calamos Laddered S&P 500 Structured Alt Protection ETF (CPSL) is 1.13%, while Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) has a volatility of 4.61%. This indicates that CPSL experiences smaller price fluctuations and is considered to be less risky than QVMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CPSLQVMTDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.13%

4.61%

-3.48%

Volatility (6M)

Calculated over the trailing 6-month period

1.70%

9.77%

-8.07%

Volatility (1Y)

Calculated over the trailing 1-year period

2.86%

13.18%

-10.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.47%

17.37%

-13.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.47%

21.10%

-17.63%

CPSL vs. QVMT - Expense Ratio Comparison

CPSL has a 0.79% expense ratio, which is higher than QVMT's 0.13% expense ratio.

Dividends

CPSL vs. QVMT - Dividend Comparison

CPSL has not paid dividends to shareholders, while QVMT's dividend yield for the trailing twelve months is around 2.19%.

TTM20252024202320222021202020192018201720162015
CPSL
Calamos Laddered S&P 500 Structured Alt Protection ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QVMT
Invesco S&P S&P 500 Concentrated QVM ETF		2.19%2.42%2.71%3.05%2.49%2.31%2.70%2.23%2.48%2.37%1.11%0.54%