SIXD vs. CPSP

Last updated Jun 3, 2026

SIXD (AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF) and CPSP (Calamos S&P 500 Structured Alt Protection ETF - April) are both exchange-traded funds - SIXD is a Defined Outcome fund actively managed by Allianz, while CPSP is a S&P 500 fund actively managed by Calamos. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. SIXD charges 0.74%/yr vs 0.69%/yr for CPSP.

Performance

SIXD vs. CPSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (SIXD) and Calamos S&P 500 Structured Alt Protection ETF - April (CPSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXD achieves a 7.20% return, which is significantly higher than CPSP's 3.18% return.

SIXD

• 1D: 0.06%
• 1M: 2.71%
• YTD: 7.20%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPSP

• 1D: 0.00%
• 1M: 0.60%
• YTD: 3.18%
• 6M: 3.74%
• 1Y: 7.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIXD vs. CPSP - Yearly Performance Comparison

	2026 (YTD)	2025
SIXD AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF	7.20%	-0.18%
CPSP Calamos S&P 500 Structured Alt Protection ETF - April	3.18%	0.12%

Correlation

The correlation between SIXD and CPSP is 0.81, 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 Dec 23, 2025	0.81

Return for Risk

SIXD vs. CPSP — Risk / Return Rank

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

CPSP

CPSP Risk / Return Rank: 98
CPSP Sharpe Ratio Rank: 98
CPSP Sortino Ratio Rank: 99
CPSP Omega Ratio Rank: 98
CPSP Calmar Ratio Rank: 98
CPSP Martin Ratio Rank: 99

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.

SIXD vs. CPSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (SIXD) and Calamos S&P 500 Structured Alt Protection ETF - April (CPSP). 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

	SIXD	CPSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.29	3.17	-0.88

Drawdowns

SIXD vs. CPSP - Drawdown Comparison

The maximum SIXD drawdown since its inception was -4.69%, which is greater than CPSP's maximum drawdown of -1.73%. Use the drawdown chart below to compare losses from any high point for SIXD and CPSP.

Drawdown Indicators

	SIXD	CPSP	Difference
Max Drawdown Largest peak-to-trough decline	-4.69%	-1.73%	-2.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.37%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.08%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.07%	—

Volatility

Volatility by Period

	SIXD	CPSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.38%	1.42%	+5.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.38%	2.37%	+5.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.38%	2.37%	+5.01%

SIXD vs. CPSP - Expense Ratio Comparison

SIXD has a 0.74% expense ratio, which is higher than CPSP's 0.69% expense ratio.

Dividends

SIXD vs. CPSP - Dividend Comparison

Neither SIXD nor CPSP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SIXD and CPSP in my portfolio?

SIXD and CPSP have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SIXD or CPSP?

On fees, CPSP is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SIXD or CPSP?

CPSP is cheaper with a 0.69% expense ratio, compared with 0.74% for SIXD.

Which ETF pays a higher dividend yield, SIXD or CPSP?

SIXD and CPSP have nearly identical dividend yields, around 0.00%.

What is the main difference between SIXD and CPSP?

SIXD is categorized as Defined Outcome, while CPSP is S&P 500. They also come from different issuers: Allianz and Calamos. Their fees differ too: 0.74% for SIXD and 0.69% for CPSP.