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CPSA offers investors a balanced investment solution by combining potential market upside with one year of guaranteed capital protection.


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Calamos Investments has introduced the Calamos S&P 500® Structured Alt Protection ETF – August (
Competitively priced at 0.69%, CPSA offers investors a balanced investment solution by combining potential market upside with one year of guaranteed capital protection. Specifically, it aims to match the performance of the S&P 500 Index up to an annual cap of 8.74% (before fees) while shielding investors from losses over a one-year outcome period.
With 1,790 new products launched by July 2026, choosing is harder than ever. Our Global ETF Survey 2026, built on 620 professional investors and allocators, shows how active, fixed income, options-based and thematic ETFs are reshaping fund selection.
Key features of the ETF include:
Investors should keep in mind that purchasing the ETF during its outcome period may result in different levels of protection and potential returns compared to investing at inception. The ETF's webpage provides real-time updates on the upside cap, protection level, and remaining time in the outcome period.

John Koudounis, President and CEO of Calamos Investments, stated, “Demand for capital-protected solutions continues to grow, particularly in this environment where election-related risks are influencing equity market volatility.”
The CPSA ETF is the fifth addition to Calamos' Structured Protection ETFs series. This series debuted just two months ago with the launch of the Calamos S&P 500® Structured Alt Protection ETF™ – May (CPSM), which has already surpassed $100 million in assets under management due to strong investor demand.
Calamos plans to expand the range with new upcoming launches, providing exposure to the S&P 500®, Nasdaq-100®, and Russell 2000® benchmarks, each offering capped upside potential with downside protection.
Calamos Investments, founded in the 1970s, specializes in building client wealth through innovative investment strategies, particularly convertible securities. The firm is committed to risk management and client focus, offering a diverse range of investment solutions, including alternatives, equities, and fixed income. Under the leadership of CEO John Koudounis, Calamos has experienced significant growth, solidifying its position as a leading liquid alternatives provider in the United States.
Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.
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With 1,790 new products launched by July 2026, choosing is harder than ever. Our Global ETF Survey 2026, built on 620 professional investors and allocators, shows how active, fixed income, options-based and thematic ETFs are reshaping fund selection.
