STEN vs. CPRA
STEN (iShares Large Cap 10% Target Buffer Sep ETF) and CPRA (Calamos Russell 2000 Structured Alt Protection ETF - April) are both Defined Outcome funds. Both are actively managed. Their 0.75 correlation means they have sometimes moved together and sometimes differently. STEN charges 0.50%/yr vs 0.69%/yr for CPRA.
Performance
STEN vs. CPRA - Performance Comparison
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Returns By Period
In the year-to-date period, STEN achieves a 8.49% return, which is significantly higher than CPRA's 4.58% return.
STEN
- 1D
- 0.73%
- 1M
- 0.75%
- 6M
- 7.36%
- YTD
- 8.49%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
CPRA
- 1D
- -0.02%
- 1M
- 0.32%
- 6M
- 3.95%
- YTD
- 4.58%
- 1Y
- 8.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.06K | $26.22K | $32.24K | |
| $12.61K | $40.38K | $88.23K |
STEN vs. CPRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
STEN iShares Large Cap 10% Target Buffer Sep ETF | 8.49% | 2.36% |
CPRA Calamos Russell 2000 Structured Alt Protection ETF - April | 4.58% | 1.63% |
Correlation
The correlation between STEN and CPRA is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025 | 0.75 |
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Return for Risk
STEN vs. CPRA — Risk / Return Rank
STEN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CPRA
STEN vs. CPRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Sep ETF (STEN) and Calamos Russell 2000 Structured Alt Protection ETF - April (CPRA). 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.
| STEN | CPRA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.95 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 9.57 | — |
| Martin ratioReturn relative to average drawdown | — | 54.79 | — |
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Drawdowns
STEN vs. CPRA - Drawdown Comparison
The maximum STEN drawdown since its inception was -6.21%, which is greater than CPRA's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for STEN and CPRA.
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Drawdown Indicators
| STEN | CPRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.21% | -1.69% | -4.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.89% | — |
Current DrawdownCurrent decline from peak | -0.25% | -0.02% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -0.91% | -0.14% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.16% | — |
Volatility
STEN vs. CPRA - Volatility Comparison
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Volatility by Period
| STEN | CPRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.44% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.36% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.35% | 2.16% | +7.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.35% | 2.71% | +6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.35% | 2.71% | +6.64% |
STEN vs. CPRA - Expense Ratio Comparison
STEN has a 0.50% expense ratio, which is lower than CPRA's 0.69% expense ratio.
Dividends
STEN vs. CPRA - Dividend Comparison
STEN's dividend yield for the trailing twelve months is around 0.29%, while CPRA has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
CPRA Calamos Russell 2000 Structured Alt Protection ETF - April | 0.00% | 0.00% |
STEN iShares Large Cap 10% Target Buffer Sep ETF | 0.29% | 0.31% |
Frequently Asked Questions
STEN and CPRA have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, STEN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
STEN is cheaper with a 0.50% expense ratio, compared with 0.69% for CPRA.
STEN has the higher dividend yield at 0.29%, compared with 0.00% for CPRA.
They also come from different issuers: BlackRock and Calamos. Their fees differ too: 0.50% for STEN and 0.69% for CPRA.
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