TJUN vs. CPSM
TJUN (FT Vest Emerging Markets Buffer ETF - June) and CPSM (Calamos S&P 500 Structured Alt Protection ETF - May) are both Defined Outcome funds. Over the past year, TJUN returned 13.53% vs 5.15% for CPSM. At a 0.47 correlation, their price movements are largely independent. TJUN charges 0.95%/yr vs 0.69%/yr for CPSM.
Performance
TJUN vs. CPSM - Performance Comparison
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Returns By Period
In the year-to-date period, TJUN achieves a 1.65% return, which is significantly lower than CPSM's 1.94% return.
TJUN
- 1D
- -3.88%
- 1M
- -3.12%
- YTD
- 1.65%
- 6M
- 2.01%
- 1Y
- 13.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPSM
- 1D
- -0.14%
- 1M
- -0.09%
- YTD
- 1.94%
- 6M
- 2.03%
- 1Y
- 5.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TJUN vs. CPSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TJUN FT Vest Emerging Markets Buffer ETF - June | 1.65% | 11.79% |
CPSM Calamos S&P 500 Structured Alt Protection ETF - May | 1.94% | 3.34% |
Correlation
The correlation between TJUN and CPSM is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025 | 0.47 |
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Return for Risk
TJUN vs. CPSM — Risk / Return Rank
TJUN
CPSM
TJUN vs. CPSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Emerging Markets Buffer ETF - June (TJUN) 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.
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.
| TJUN | CPSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.67 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 10.57 | -7.53 |
| Martin ratioReturn relative to average drawdown | 13.10 | 45.23 | -32.13 |
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Drawdowns
TJUN vs. CPSM - Drawdown Comparison
The maximum TJUN drawdown since its inception was -4.47%, smaller than the maximum CPSM drawdown of -5.19%. Use the drawdown chart below to compare losses from any high point for TJUN and CPSM.
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Drawdown Indicators
| TJUN | CPSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.47% | -5.19% | +0.72% |
Max Drawdown (1Y)Largest decline over 1 year | -4.47% | -0.49% | -3.98% |
Current DrawdownCurrent decline from peak | -3.88% | -0.39% | -3.49% |
Average DrawdownAverage peak-to-trough decline | -0.58% | -0.20% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.11% | +0.93% |
Volatility
TJUN vs. CPSM - Volatility Comparison
FT Vest Emerging Markets Buffer ETF - June (TJUN) has a higher volatility of 4.01% compared to Calamos S&P 500 Structured Alt Protection ETF - May (CPSM) at 0.66%. This indicates that TJUN'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
| TJUN | CPSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 0.66% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 6.42% | 1.16% | +5.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.33% | 1.65% | +6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.33% | 5.05% | +3.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 5.05% | +3.28% |
TJUN vs. CPSM - Expense Ratio Comparison
TJUN has a 0.95% expense ratio, which is higher than CPSM's 0.69% expense ratio.
Dividends
TJUN vs. CPSM - Dividend Comparison
Neither TJUN nor CPSM has paid dividends to shareholders.
Frequently Asked Questions
TJUN and CPSM have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TJUN has higher volatility (4.01%) compared to CPSM (0.66%). In terms of maximum drawdown, TJUN dropped -4.47% vs CPSM's -5.19%.
On 1-year performance, TJUN leads with 13.53% vs 5.15% for CPSM. On fees, CPSM is cheaper at 0.69% per year. On volatility, CPSM has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TJUN has performed better with a 13.53% return vs 5.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CPSM is cheaper with a 0.69% expense ratio, compared with 0.95% for TJUN.
TJUN and CPSM have nearly identical dividend yields, around 0.00%.
They also come from different issuers: First Trust and Calamos. Their fees differ too: 0.95% for TJUN and 0.69% for CPSM.
CPSM currently has the higher Sharpe Ratio (3.15 vs 1.63), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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