CPSP vs. RSPG
CPSP (Calamos S&P 500 Structured Alt Protection ETF - April) and RSPG (Invesco S&P 500 Equal Weight Energy ETF) are both exchange-traded funds - CPSP is a S&P 500 fund actively managed by Calamos, while RSPG is a Energy Equities fund tracking the S&P 500 Equal Weight Energy Plus Index. CPSP is actively managed, while RSPG is passively managed. Over the past year, CPSP returned 7.13% vs 47.49% for RSPG. At a 0.12 correlation, their price movements are largely independent. CPSP charges 0.69%/yr vs 0.40%/yr for RSPG.
Performance
CPSP vs. RSPG - Performance Comparison
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Returns By Period
In the year-to-date period, CPSP achieves a 3.18% return, which is significantly lower than RSPG's 34.27% return.
CPSP
- 1D
- 0.00%
- 1M
- 0.60%
- YTD
- 3.18%
- 6M
- 3.74%
- 1Y
- 7.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RSPG
- 1D
- 1.25%
- 1M
- -2.65%
- YTD
- 34.27%
- 6M
- 28.95%
- 1Y
- 47.49%
- 3Y*
- 19.93%
- 5Y*
- 21.10%
- 10Y*
- 9.73%
CPSP vs. RSPG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPSP Calamos S&P 500 Structured Alt Protection ETF - April | 3.18% | 5.46% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 34.27% | -1.58% |
Correlation
The correlation between CPSP and RSPG is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | 0.12 |
The correlation between CPSP and RSPG shifts across timeframes, from 0.02 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CPSP vs. RSPG — Risk / Return Rank
CPSP
RSPG
CPSP vs. RSPG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos S&P 500 Structured Alt Protection ETF - April (CPSP) and Invesco S&P 500 Equal Weight Energy ETF (RSPG). 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.
| CPSP | RSPG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.87 | ||
| Sortino ratioReturn per unit of downside risk | +6.35 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.35 | +0.96 |
| Calmar ratioReturn relative to maximum drawdown | 19.11 | 3.92 | +15.19 |
| Martin ratioReturn relative to average drawdown | 96.35 | 11.59 | +84.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CPSP | RSPG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.08 | 2.20 | +2.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.75 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.17 | 0.18 | +2.99 |
Drawdowns
CPSP vs. RSPG - Drawdown Comparison
The maximum CPSP drawdown since its inception was -1.73%, smaller than the maximum RSPG drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for CPSP and RSPG.
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Drawdown Indicators
| CPSP | RSPG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.73% | -79.98% | +78.25% |
Max Drawdown (1Y)Largest decline over 1 year | -0.37% | -12.18% | +11.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -73.17% | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.67% | +5.67% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -25.47% | +25.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 4.11% | -4.04% |
Volatility
CPSP vs. RSPG - Volatility Comparison
The current volatility for Calamos S&P 500 Structured Alt Protection ETF - April (CPSP) is 0.32%, while Invesco S&P 500 Equal Weight Energy ETF (RSPG) has a volatility of 8.19%. This indicates that CPSP experiences smaller price fluctuations and is considered to be less risky than RSPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPSP | RSPG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.32% | 8.19% | -7.87% |
Volatility (6M)Calculated over the trailing 6-month period | 0.84% | 16.77% | -15.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.42% | 21.69% | -20.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.37% | 28.31% | -25.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.37% | 33.57% | -31.20% |
CPSP vs. RSPG - Expense Ratio Comparison
CPSP has a 0.69% expense ratio, which is higher than RSPG's 0.40% expense ratio.
Dividends
CPSP vs. RSPG - Dividend Comparison
CPSP has not paid dividends to shareholders, while RSPG's dividend yield for the trailing twelve months is around 1.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPSP Calamos S&P 500 Structured Alt Protection ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 1.94% | 2.60% | 2.43% | 2.84% | 3.43% | 2.37% | 3.15% | 2.15% | 2.18% | 2.55% | 1.14% | 2.80% |
Frequently Asked Questions
CPSP and RSPG have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSPG has higher volatility (8.19%) compared to CPSP (0.32%). In terms of maximum drawdown, CPSP dropped -1.73% vs RSPG's -79.98%.
On 1-year performance, RSPG leads with 47.49% vs 7.13% for CPSP. On fees, RSPG is cheaper at 0.40% per year. On volatility, CPSP has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RSPG has performed better with a 47.49% return vs 7.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPG is cheaper with a 0.40% expense ratio, compared with 0.69% for CPSP.
RSPG has the higher dividend yield at 1.94%, compared with 0.00% for CPSP.
CPSP is categorized as S&P 500, while RSPG is Energy Equities. They also come from different issuers: Calamos and Invesco. Their fees differ too: 0.69% for CPSP and 0.40% for RSPG.
CPSP currently has the higher Sharpe Ratio (5.08 vs 2.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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