CPSY vs. VUSV

Last updated Jun 24, 2026

CPSY (Calamos S&P 500 Structured Alt Protection ETF - January) and VUSV (Vanguard Wellington U.S. Value Active ETF) are both exchange-traded funds - CPSY is a Defined Outcome fund actively managed by Calamos, while VUSV is a Large Cap Value Equities fund actively managed by Vanguard. Both are actively managed. A 0.61 correlation means they provide meaningful diversification when combined. CPSY charges 0.69%/yr vs 0.30%/yr for VUSV.

Performance

CPSY vs. VUSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos S&P 500 Structured Alt Protection ETF - January (CPSY) and Vanguard Wellington U.S. Value Active ETF (VUSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPSY achieves a 2.33% return, which is significantly lower than VUSV's 7.21% return.

CPSY

• 1D: 0.00%
• 1M: 0.22%
• YTD: 2.33%
• 6M: 2.47%
• 1Y: 7.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VUSV

• 1D: -0.12%
• 1M: -0.06%
• YTD: 7.21%
• 6M: 6.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPSY vs. VUSV - Yearly Performance Comparison

	2026 (YTD)	2025
CPSY Calamos S&P 500 Structured Alt Protection ETF - January	2.33%	1.21%
VUSV Vanguard Wellington U.S. Value Active ETF	7.21%	5.62%

Correlation

The correlation between CPSY and VUSV is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.61

Return for Risk

CPSY vs. VUSV — Risk / Return Rank

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

CPSY

CPSY Risk / Return Rank: 95
CPSY Sharpe Ratio Rank: 96
CPSY Sortino Ratio Rank: 97
CPSY Omega Ratio Rank: 96
CPSY Calmar Ratio Rank: 91
CPSY Martin Ratio Rank: 95

VUSV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

CPSY vs. VUSV - 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 Vanguard Wellington U.S. Value Active ETF (VUSV). 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	VUSV	Difference
Sharpe ratio: Return per unit of total volatility	3.54	—	—
Sortino ratio: Return per unit of downside risk	5.76	—	—
Omega ratio: Gain probability vs. loss probability	1.79	—	—
Calmar ratio: Return relative to maximum drawdown	5.27	—	—
Martin ratio: Return relative to average drawdown	27.15	—	—

Drawdowns

CPSY vs. VUSV - Drawdown Comparison

The maximum CPSY drawdown since its inception was -3.01%, smaller than the maximum VUSV drawdown of -7.06%. Use the drawdown chart below to compare losses from any high point for CPSY and VUSV.

Drawdown Indicators

	CPSY	VUSV	Difference
Max Drawdown Largest peak-to-trough decline	-3.01%	-7.06%	+4.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.35%	—	—
Current Drawdown Current decline from peak	-0.08%	-1.96%	+1.88%
Average Drawdown Average peak-to-trough decline	-0.32%	-1.28%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	—	—

Volatility

Volatility by Period

	CPSY	VUSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.02%	12.06%	-10.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.05%	12.06%	-9.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.05%	12.06%	-9.01%

CPSY vs. VUSV - Expense Ratio Comparison

CPSY has a 0.69% expense ratio, which is higher than VUSV's 0.30% expense ratio.

Dividends

CPSY vs. VUSV - Dividend Comparison

CPSY has not paid dividends to shareholders, while VUSV's dividend yield for the trailing twelve months is around 0.18%.

Position	TTM	2025
CPSY Calamos S&P 500 Structured Alt Protection ETF - January	0.00%	0.00%
VUSV Vanguard Wellington U.S. Value Active ETF	0.18%	0.20%

Frequently Asked Questions

Can I hold both CPSY and VUSV in my portfolio?

CPSY and VUSV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPSY or VUSV?

On fees, VUSV is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPSY or VUSV?

VUSV is cheaper with a 0.30% expense ratio, compared with 0.69% for CPSY.

Which ETF pays a higher dividend yield, CPSY or VUSV?

VUSV has the higher dividend yield at 0.18%, compared with 0.00% for CPSY.

What is the main difference between CPSY and VUSV?

CPSY is categorized as Defined Outcome, while VUSV is Large Cap Value Equities. They also come from different issuers: Calamos and Vanguard. Their fees differ too: 0.69% for CPSY and 0.30% for VUSV.