Open Now: The Global ETF Survey Take the Survey →
CPSA offers investors a balanced investment solution by combining potential market upside with one year of guaranteed capital protection.


Keep up with what matters in ETFs
Get timely ETF insights, market trends, and top ideas straight to your inbox.
Your newsletter subscriptions with us are subject to ETF Central's Privacy Policy and Terms and Conditions.
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.
From AI infrastructure to active strategies, the ETF landscape is shifting. Share your perspective in the 7th Annual Global ETF Survey and get exclusive early access to the final report.
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.
Latest ETF News
See all ETF newsColumbia Threadneedle Supercharges Its ETF Lineup with Two New Premium Income Funds


New North Square ETFs Aim to Modernize Active Value and Growth Investing


Advantages of ETFs over Mutual Funds1/6
Lower Costs
In this guide, we'll explore the advantages of ETFs over mutual funds, giving you valuable insights into why ETFs have gained significant popularity among investors like yourself.
Leveraged ETFs: Unlocking the Potential for Amplified Returns1/6
Understanding Leveraged ETFs
Explore leveraged ETFs: potential for amplified returns & risks. 5 ETFs to consider across equities, commodities & fixed income.
What is a Leveraged ETF?1/6
Introducing Leveraged and Inverse ETFs
In this guide, we'll dive into the world of leveraged ETFs, exploring their definition, mechanics, potential risks, and rewards.
ETF Trends
ETF Industry KPIs July 13, 2026
This week’s KPI data overview highlights key metrics and trends shaping the ETF landscape.

First Look ETF
First Look ETF: Cash Deployment, Bond, and Hedged ETFs
In this season 6 episode of First Look ETF, Stephanie Stanton examines the latest ETF marketplace trends with NYSE and guests.

ETF Trends
ETF Industry KPIs July 6, 2026
This week’s KPI data overview highlights key metrics and trends shaping the ETF landscape.

Asset TV
The ETF Show - The Evolution of Leveraged & Inverse ETFs
Leveraged and inverse ETFs have exploded in popularity over the past decade capturing more assets as retail traders seek to capture volatility.

Don’t start from scratch. Discover ready-made ETF portfolios built by professionals to match different goals, timelines, and market views. Use them as inspiration or as a starting point for your own allocation.
