SPXE vs. CPSP
SPXE (ProShares S&P 500 Ex-Energy ETF) and CPSP (Calamos S&P 500 Structured Alt Protection ETF - April) are both S&P 500 funds. SPXE is passively managed, while CPSP is actively managed. A 0.60 correlation means they provide meaningful diversification when combined. SPXE charges 0.09%/yr vs 0.69%/yr for CPSP.
Performance
SPXE vs. CPSP - Performance Comparison
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Returns By Period
SPXE
- 1D
- -0.59%
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPSP
- 1D
- -0.17%
- 1M
- 0.30%
- 6M
- 3.31%
- YTD
- 3.53%
- 1Y
- 6.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXE vs. CPSP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
SPXE ProShares S&P 500 Ex-Energy ETF | -0.65% |
CPSP Calamos S&P 500 Structured Alt Protection ETF - April | 0.15% |
Correlation
The correlation between SPXE and CPSP is 0.60, 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 Jul 10, 2026 | 0.60 |
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Return for Risk
SPXE vs. CPSP — Risk / Return Rank
SPXE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CPSP
SPXE vs. CPSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Energy ETF (SPXE) 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.
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.
| SPXE | CPSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.16 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 17.07 | — |
| Martin ratioReturn relative to average drawdown | — | 73.88 | — |
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Drawdowns
SPXE vs. CPSP - Drawdown Comparison
The maximum SPXE drawdown since its inception was -0.87%, smaller than the maximum CPSP drawdown of -1.73%. Use the drawdown chart below to compare losses from any high point for SPXE and CPSP.
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Drawdown Indicators
| SPXE | CPSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.87% | -1.73% | +0.86% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.37% | — |
Current DrawdownCurrent decline from peak | -0.75% | -0.17% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -0.46% | -0.09% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.09% | — |
Volatility
SPXE vs. CPSP - Volatility Comparison
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Volatility by Period
| SPXE | CPSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.37% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.91% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.00% | 1.36% | +7.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.00% | 2.33% | +6.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.00% | 2.33% | +6.67% |
SPXE vs. CPSP - Expense Ratio Comparison
SPXE has a 0.09% expense ratio, which is lower than CPSP's 0.69% expense ratio.
Dividends
SPXE vs. CPSP - Dividend Comparison
Neither SPXE nor CPSP has paid dividends to shareholders.
Frequently Asked Questions
SPXE and CPSP have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXE is cheaper with a 0.09% expense ratio, compared with 0.69% for CPSP.
SPXE and CPSP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: ProShares and Calamos. Their fees differ too: 0.09% for SPXE and 0.69% for CPSP.
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