SPXE vs. CPSU

Last updated Jul 18, 2026

SPXE (ProShares S&P 500 Ex-Energy ETF) and CPSU (Calamos S&P 500 Structured Alt Protection ETF - June) are both exchange-traded funds - SPXE is a S&P 500 fund tracking the S&P 500 Ex-Energy Index, while CPSU is a Defined Outcome fund actively managed by Calamos. SPXE is passively managed, while CPSU is actively managed. SPXE charges 0.09%/yr vs 0.69%/yr for CPSU.

Performance

SPXE vs. CPSU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Ex-Energy ETF (SPXE) and Calamos S&P 500 Structured Alt Protection ETF - June (CPSU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXE

• 1D: 0.00%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPSU

• 1D: -0.18%
• 1M: 0.20%
• 6M: 1.90%
• YTD: 2.16%
• 1Y: 5.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXE vs. CPSU - Yearly Performance Comparison

	2026 (YTD)
SPXE ProShares S&P 500 Ex-Energy ETF	0.00%
CPSU Calamos S&P 500 Structured Alt Protection ETF - June	-0.18%

Return for Risk

SPXE vs. CPSU — Risk / Return Rank

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

SPXE

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

CPSU

CPSU Risk / Return Rank: 95
CPSU Sharpe Ratio Rank: 94
CPSU Sortino Ratio Rank: 95
CPSU Omega Ratio Rank: 96
CPSU Calmar Ratio Rank: 93
CPSU 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.

SPXE vs. CPSU - 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 - June (CPSU). 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	CPSU	Difference
Sharpe ratio: Return per unit of total volatility	—	2.66	—
Sortino ratio: Return per unit of downside risk	—	4.13	—
Omega ratio: Gain probability vs. loss probability	—	1.64	—
Calmar ratio: Return relative to maximum drawdown	—	4.93	—
Martin ratio: Return relative to average drawdown	—	22.81	—

Drawdowns

SPXE vs. CPSU - Drawdown Comparison

The maximum SPXE drawdown since its inception was 0.00%, smaller than the maximum CPSU drawdown of -1.03%. Use the drawdown chart below to compare losses from any high point for SPXE and CPSU.

Drawdown Indicators

	SPXE	CPSU	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-1.03%	+1.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.03%	—
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	0.00%	-0.11%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.22%	—

Volatility

Volatility by Period

	SPXE	CPSU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1.91%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.87%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	1.87%	—

SPXE vs. CPSU - Expense Ratio Comparison

SPXE has a 0.09% expense ratio, which is lower than CPSU's 0.69% expense ratio.

Dividends

SPXE vs. CPSU - Dividend Comparison

Neither SPXE nor CPSU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Which ETF is better, SPXE or CPSU?

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.

Which ETF is cheaper, SPXE or CPSU?

SPXE is cheaper with a 0.09% expense ratio, compared with 0.69% for CPSU.

Which ETF pays a higher dividend yield, SPXE or CPSU?

SPXE and CPSU have nearly identical dividend yields, around 0.00%.

What is the main difference between SPXE and CPSU?

SPXE is categorized as S&P 500, while CPSU is Defined Outcome. They also come from different issuers: ProShares and Calamos. Their fees differ too: 0.09% for SPXE and 0.69% for CPSU.