CPST vs. SROI

Last updated Jun 3, 2026

CPST (Calamos S&P 500 Structured Alt Protection ETF - September) and SROI (Calamos Antetokounmpo Global Sustainable Equities ETF) are both exchange-traded funds - CPST is a Defined Outcome fund tracking the MerQube Cap Protect US Lrg Cap PR Index - Sep, while SROI is a Global Equities fund actively managed by Calamos. CPST is passively managed, while SROI is actively managed. Over the past year, CPST returned 7.84% vs 21.83% for SROI. A 0.77 correlation means they provide meaningful diversification when combined. CPST charges 0.69%/yr vs 0.95%/yr for SROI.

Performance

CPST vs. SROI - 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 Calamos Antetokounmpo Global Sustainable Equities ETF (SROI). 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 SROI's 11.86% return.

CPST

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

SROI

• 1D: 0.08%
• 1M: 3.91%
• YTD: 11.86%
• 6M: 12.28%
• 1Y: 21.83%
• 3Y*: 14.79%
• 5Y*: —
• 10Y*: —

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

CPST vs. SROI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CPST Calamos S&P 500 Structured Alt Protection ETF - September	2.67%	6.73%	2.30%
SROI Calamos Antetokounmpo Global Sustainable Equities ETF	11.86%	16.36%	-1.02%

Correlation

The correlation between CPST and SROI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	0.77

The correlation between CPST and SROI has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

Return for Risk

CPST vs. SROI — 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

SROI

SROI Risk / Return Rank: 47
SROI Sharpe Ratio Rank: 47
SROI Sortino Ratio Rank: 47
SROI Omega Ratio Rank: 46
SROI Calmar Ratio Rank: 43
SROI Martin Ratio Rank: 53

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. SROI - 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 Calamos Antetokounmpo Global Sustainable Equities ETF (SROI). 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	SROI	Difference
Sharpe ratio Return per unit of total volatility	3.66	1.64	+2.02
Sortino ratio Return per unit of downside risk	6.09	2.36	+3.73
Omega ratio Gain probability vs. loss probability	1.84	1.29	+0.55
Calmar ratio Return relative to maximum drawdown	5.58	2.17	+3.41
Martin ratio Return relative to average drawdown	30.14	9.38	+20.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPST vs. SROI - Sharpe Ratio Comparison

The current CPST Sharpe Ratio is 3.66, which is higher than the SROI Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of CPST and SROI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CPST	SROI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.66	1.64	+2.02
Sharpe Ratio (All Time) Calculated using the full available price history	2.02	1.03	+0.99

Drawdowns

CPST vs. SROI - Drawdown Comparison

The maximum CPST drawdown since its inception was -3.79%, smaller than the maximum SROI drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for CPST and SROI.

Drawdown Indicators

	CPST	SROI	Difference
Max Drawdown Largest peak-to-trough decline	-3.79%	-15.38%	+11.59%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	-10.19%	+8.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.38%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.35%	-2.42%	+2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	2.36%	-2.10%

Volatility

CPST vs. SROI - Volatility Comparison

The current volatility for Calamos S&P 500 Structured Alt Protection ETF - September (CPST) is 0.32%, while Calamos Antetokounmpo Global Sustainable Equities ETF (SROI) has a volatility of 4.00%. This indicates that CPST experiences smaller price fluctuations and is considered to be less risky than SROI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPST	SROI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	4.00%	-3.68%
Volatility (6M) Calculated over the trailing 6-month period	1.60%	10.85%	-9.25%
Volatility (1Y) Calculated over the trailing 1-year period	2.15%	13.36%	-11.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.37%	13.87%	-10.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.37%	13.87%	-10.50%

CPST vs. SROI - Expense Ratio Comparison

CPST has a 0.69% expense ratio, which is lower than SROI's 0.95% expense ratio.

Dividends

CPST vs. SROI - Dividend Comparison

CPST has not paid dividends to shareholders, while SROI's dividend yield for the trailing twelve months is around 0.54%.

Position	TTM	2025	2024	2023
CPST Calamos S&P 500 Structured Alt Protection ETF - September	0.00%	0.00%	0.00%	0.00%
SROI Calamos Antetokounmpo Global Sustainable Equities ETF	0.54%	0.60%	0.68%	0.94%

Frequently Asked Questions

Can I hold both CPST and SROI in my portfolio?

CPST and SROI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPST or SROI?

SROI has higher volatility (4.00%) compared to CPST (0.32%). In terms of maximum drawdown, CPST dropped -3.79% vs SROI's -15.38%.

Which ETF is better, CPST or SROI?

On 1-year performance, SROI leads with 21.83% vs 7.84% for CPST. On fees, CPST is cheaper at 0.69% per year. On volatility, CPST has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPST or SROI?

Over the 1-year period, SROI has performed better with a 21.83% return vs 7.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPST or SROI?

CPST is cheaper with a 0.69% expense ratio, compared with 0.95% for SROI.

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

SROI has the higher dividend yield at 0.54%, compared with 0.00% for CPST.

What is the main difference between CPST and SROI?

CPST is categorized as Defined Outcome, while SROI is Global Equities. Their fees differ too: 0.69% for CPST and 0.95% for SROI.

Which has better risk-adjusted returns?

CPST currently has the higher Sharpe Ratio (3.66 vs 1.64), 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.