CPSY vs. PBOG
CPSY (Calamos S&P 500 Structured Alt Protection ETF - January) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both exchange-traded funds - CPSY is a Defined Outcome fund actively managed by Calamos, while PBOG is a Energy Equities fund tracking the BITA Global Oil & Gas Select Index. CPSY is actively managed, while PBOG is passively managed. Their -0.30 correlation means they have often moved in opposite directions in the past. CPSY charges 0.69%/yr vs 0.13%/yr for PBOG.
Performance
CPSY vs. PBOG - Performance Comparison
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Returns By Period
In the year-to-date period, CPSY achieves a 3.15% return, which is significantly lower than PBOG's 33.10% return.
CPSY
- 1D
- 0.18%
- 1M
- 0.63%
- 6M
- 2.64%
- YTD
- 3.15%
- 1Y
- 6.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.27%
PBOG
- 1D
- -1.41%
- 1M
- 14.41%
- 6M
- 21.05%
- YTD
- 33.10%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $91.07K | $49.68K | $31.54K | |
| $1.29M | $1.24M | $2.88M |
CPSY vs. PBOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPSY Calamos S&P 500 Structured Alt Protection ETF - January | 3.15% | 0.99% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 33.10% | 1.39% |
Correlation
The correlation between CPSY and PBOG is -0.30, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | -0.30 |
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Return for Risk
CPSY vs. PBOG — Risk / Return Rank
CPSY
PBOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CPSY vs. PBOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos S&P 500 Structured Alt Protection ETF - January (CPSY) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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.
| CPSY | PBOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.71 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | — | — |
| Martin ratioReturn relative to average drawdown | 25.45 | — | — |
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Drawdowns
CPSY vs. PBOG - Drawdown Comparison
The maximum CPSY drawdown since its inception was -3.01%, smaller than the maximum PBOG drawdown of -19.24%. Use the drawdown chart below to compare losses from any high point for CPSY and PBOG.
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Drawdown Indicators
| CPSY | PBOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.01% | -19.24% | +16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -6.19% | +6.19% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -5.22% | +4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | — | — |
Volatility
CPSY vs. PBOG - Volatility Comparison
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Volatility by Period
| CPSY | PBOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.06% | 24.22% | -22.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.00% | 24.22% | -21.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.00% | 24.22% | -21.22% |
CPSY vs. PBOG - Expense Ratio Comparison
CPSY has a 0.69% expense ratio, which is higher than PBOG's 0.13% expense ratio.
Dividends
CPSY vs. PBOG - Dividend Comparison
CPSY has not paid dividends to shareholders, while PBOG's dividend yield for the trailing twelve months is around 0.13%.
| Position | TTM | 2025 |
|---|---|---|
CPSY Calamos S&P 500 Structured Alt Protection ETF - January | 0.00% | 0.00% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 0.13% | 0.17% |
Frequently Asked Questions
CPSY and PBOG have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBOG is cheaper with a 0.13% expense ratio, compared with 0.69% for CPSY.
PBOG has the higher dividend yield at 0.13%, compared with 0.00% for CPSY.
CPSY is categorized as Defined Outcome, while PBOG is Energy Equities. They also come from different issuers: Calamos and Portfolio Building Block. Their fees differ too: 0.69% for CPSY and 0.13% for PBOG.
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