PRXV vs. CPNS

Last updated Jun 4, 2026

PRXV (Praxis Impact Large Cap Value ETF) and CPNS (Calamos Nasdaq-100 Structured Alt Protection ETF - September) are both exchange-traded funds - PRXV is a Large Cap Value Equities fund actively managed by Praxis, while CPNS is a Defined Outcome fund tracking the MerQube Cap Protect US Large Cap Tech PR Index - Sep. PRXV is actively managed, while CPNS is passively managed. At a 0.42 correlation, their price movements are largely independent. PRXV charges 0.36%/yr vs 0.69%/yr for CPNS.

Performance

PRXV vs. CPNS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Praxis Impact Large Cap Value ETF (PRXV) and Calamos Nasdaq-100 Structured Alt Protection ETF - September (CPNS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PRXV

• 1D: -0.03%
• 1M: 4.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPNS

• 1D: -0.04%
• 1M: 0.78%
• YTD: 3.00%
• 6M: 3.17%
• 1Y: 7.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRXV vs. CPNS - Yearly Performance Comparison

	2026 (YTD)
PRXV Praxis Impact Large Cap Value ETF	4.51%
CPNS Calamos Nasdaq-100 Structured Alt Protection ETF - September	1.22%

Correlation

The correlation between PRXV and CPNS is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026	0.42

Return for Risk

PRXV vs. CPNS — Risk / Return Rank

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

CPNS

CPNS Risk / Return Rank: 95
CPNS Sharpe Ratio Rank: 94
CPNS Sortino Ratio Rank: 96
CPNS Omega Ratio Rank: 96
CPNS Calmar Ratio Rank: 91
CPNS 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.

PRXV vs. CPNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Praxis Impact Large Cap Value ETF (PRXV) and Calamos Nasdaq-100 Structured Alt Protection ETF - September (CPNS). 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.

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

Sharpe Ratios by Period

	PRXV	CPNS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.54	2.18	+2.36

Drawdowns

PRXV vs. CPNS - Drawdown Comparison

The maximum PRXV drawdown since its inception was -1.18%, smaller than the maximum CPNS drawdown of -3.99%. Use the drawdown chart below to compare losses from any high point for PRXV and CPNS.

Drawdown Indicators

	PRXV	CPNS	Difference
Max Drawdown Largest peak-to-trough decline	-1.18%	-3.99%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.31%	—
Current Drawdown Current decline from peak	-0.03%	-0.05%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.32%	-0.36%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.24%	—

Volatility

Volatility by Period

	PRXV	CPNS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.66%	2.14%	+7.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.66%	3.48%	+6.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.66%	3.48%	+6.18%

PRXV vs. CPNS - Expense Ratio Comparison

PRXV has a 0.36% expense ratio, which is lower than CPNS's 0.69% expense ratio.

Dividends

PRXV vs. CPNS - Dividend Comparison

Neither PRXV nor CPNS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PRXV and CPNS in my portfolio?

PRXV and CPNS have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PRXV or CPNS?

On fees, PRXV is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRXV or CPNS?

PRXV is cheaper with a 0.36% expense ratio, compared with 0.69% for CPNS.

Which ETF pays a higher dividend yield, PRXV or CPNS?

PRXV and CPNS have nearly identical dividend yields, around 0.00%.

What is the main difference between PRXV and CPNS?

PRXV is categorized as Large Cap Value Equities, while CPNS is Defined Outcome. They also come from different issuers: Praxis and Calamos. Their fees differ too: 0.36% for PRXV and 0.69% for CPNS.