CPST vs. JULB

Last updated Jun 3, 2026

CPST (Calamos S&P 500 Structured Alt Protection ETF - September) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. CPST is passively managed, while JULB is actively managed. Their correlation of 0.83 suggests significant overlap in exposure. CPST charges 0.69%/yr vs 0.25%/yr for JULB.

Performance

CPST vs. JULB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos S&P 500 Structured Alt Protection ETF - September (CPST) 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, CPST achieves a 2.67% return, which is significantly lower than JULB's 6.42% return.

CPST

• 1D: 0.07%
• 1M: 0.82%
• YTD: 2.67%
• 6M: 3.20%
• 1Y: 7.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JULB

• 1D: 0.02%
• 1M: 2.27%
• YTD: 6.42%
• 6M: 7.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPST vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
CPST Calamos S&P 500 Structured Alt Protection ETF - September	2.67%	1.04%
JULB Aptus July Buffer ETF	6.42%	2.56%

Correlation

The correlation between CPST and JULB is 0.83, 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 15, 2025	0.83

Return for Risk

CPST vs. JULB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CPST

CPST Risk / Return Rank: 94
CPST Sharpe Ratio Rank: 94
CPST Sortino Ratio Rank: 97
CPST Omega Ratio Rank: 96
CPST Calmar Ratio Rank: 90
CPST Martin Ratio Rank: 95

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.

CPST vs. JULB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos S&P 500 Structured Alt Protection ETF - September (CPST) 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.

	CPST	JULB	Difference
Sharpe ratio Return per unit of total volatility	3.66	—	—
Sortino ratio Return per unit of downside risk	6.09	—	—
Omega ratio Gain probability vs. loss probability	1.84	—	—
Calmar ratio Return relative to maximum drawdown	5.58	—	—
Martin ratio Return relative to average drawdown	30.14	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CPST	JULB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.02	2.20	-0.18

Drawdowns

CPST vs. JULB - Drawdown Comparison

The maximum CPST drawdown since its inception was -3.79%, smaller than the maximum JULB drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for CPST and JULB.

Drawdown Indicators

	CPST	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-3.79%	-5.24%	+1.45%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.35%	-0.88%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	—	—

Volatility

Volatility by Period

	CPST	JULB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.15%	6.83%	-4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.37%	6.83%	-3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.37%	6.83%	-3.46%

CPST vs. JULB - Expense Ratio Comparison

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

Dividends

CPST vs. JULB - Dividend Comparison

Neither CPST nor JULB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CPST and JULB in my portfolio?

CPST and JULB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPST 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, CPST or JULB?

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

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

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

What is the main difference between CPST and JULB?

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