SPYD vs. CPSM
Compare and contrast key facts about SPDR Portfolio S&P 500 High Dividend ETF (SPYD) and Calamos S&P 500 Structured Alt Protection ETF - May (CPSM).
SPYD and CPSM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPYD is a passively managed fund by State Street that tracks the performance of the S&P 500 High Dividend Index. It was launched on Oct 21, 2015. CPSM is an actively managed fund by Calamos. It was launched on May 1, 2024.
Performance
SPYD vs. CPSM - Performance Comparison
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SPYD vs. CPSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 6.32% | 4.65% | 13.41% |
CPSM Calamos S&P 500 Structured Alt Protection ETF - May | 0.81% | 7.21% | 6.67% |
Returns By Period
In the year-to-date period, SPYD achieves a 6.32% return, which is significantly higher than CPSM's 0.81% return.
SPYD
- 1D
- 0.91%
- 1M
- -4.18%
- YTD
- 6.32%
- 6M
- 5.84%
- 1Y
- 7.66%
- 3Y*
- 11.19%
- 5Y*
- 7.79%
- 10Y*
- 8.49%
CPSM
- 1D
- 0.28%
- 1M
- 0.09%
- YTD
- 0.81%
- 6M
- 2.00%
- 1Y
- 7.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SPYD vs. CPSM - Expense Ratio Comparison
SPYD has a 0.07% expense ratio, which is lower than CPSM's 0.69% expense ratio.
Return for Risk
SPYD vs. CPSM — Risk / Return Rank
SPYD
CPSM
SPYD vs. CPSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 500 High Dividend ETF (SPYD) and Calamos S&P 500 Structured Alt Protection ETF - May (CPSM). 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.
| SPYD | CPSM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.49 | 1.10 | -0.61 |
Sortino ratioReturn per unit of downside risk | 0.79 | 1.70 | -0.91 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.45 | -0.34 |
Calmar ratioReturn relative to maximum drawdown | 0.73 | 1.51 | -0.78 |
Martin ratioReturn relative to average drawdown | 2.60 | 9.75 | -7.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPYD | CPSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | 1.10 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.47 | -1.01 |
Correlation
The correlation between SPYD and CPSM is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SPYD vs. CPSM - Dividend Comparison
SPYD's dividend yield for the trailing twelve months is around 4.37%, while CPSM has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 4.37% | 4.52% | 4.31% | 4.66% | 5.01% | 3.68% | 4.95% | 4.42% | 4.75% | 4.63% | 4.34% | 1.13% |
CPSM Calamos S&P 500 Structured Alt Protection ETF - May | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPYD vs. CPSM - Drawdown Comparison
The maximum SPYD drawdown since its inception was -46.42%, which is greater than CPSM's maximum drawdown of -5.19%. Use the drawdown chart below to compare losses from any high point for SPYD and CPSM.
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Drawdown Indicators
| SPYD | CPSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.42% | -5.19% | -41.23% |
Max Drawdown (1Y)Largest decline over 1 year | -12.35% | -4.99% | -7.36% |
Max Drawdown (5Y)Largest decline over 5 years | -22.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.42% | — | — |
Current DrawdownCurrent decline from peak | -4.34% | -0.08% | -4.26% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -0.22% | -6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 0.77% | +2.69% |
Volatility
SPYD vs. CPSM - Volatility Comparison
SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has a higher volatility of 3.08% compared to Calamos S&P 500 Structured Alt Protection ETF - May (CPSM) at 0.68%. This indicates that SPYD's price experiences larger fluctuations and is considered to be riskier than CPSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYD | CPSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 0.68% | +2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.62% | 1.18% | +7.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.71% | 6.69% | +9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.25% | 5.31% | +10.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.80% | 5.31% | +14.49% |