Calamos Investments Launches CPSF: A Structured Protection ETF for S&P 500 Exposure

How CPSF ETF Works

CPSF is structured to deliver the positive price return of the S&P 500 up to a predetermined cap while protecting against 100% of losses over a one-year outcome period (before fees and expenses). This strategy offers an alternative to traditional equity investing by combining market participation with a risk-defined structure.

Calamos achieves this through a proprietary options-based strategy, which systematically allocates exposure to the S&P 500 index while hedging downside risk. The ETF resets annually, adjusting its cap and protection levels to align with market conditions at the start of each outcome period.

By providing a structured return profile, CPSF allows investors to maintain exposure to equity markets while safeguarding against significant drawdowns—a valuable feature in volatile market environments.

Why Investors Should Consider CPSF

CPSF presents an attractive alternative for investors who want exposure to the S&P 500 without taking on full market risk. Its key benefits include:

1. 100% Downside Protection – Investors are safeguarded against any market losses over the designated one-year outcome period.
2. Equity Market Exposure with a Defined Cap – The ETF allows participation in S&P 500 gains up to a specified cap, offering potential upside while managing risk.
3. Tax Efficiency – The structure of the ETF can provide tax advantages, potentially enhancing after-tax returns compared to traditional equity investments.

As Calamos continues to expand its innovative investment offerings, CPSF provides a compelling solution for investors who prioritize capital preservation while still seeking market exposure.

About the Issuer

Calamos Investments is a globally recognized asset manager with over $40 billion in AUM, specializing in alternative, multi-asset, convertible, fixed income, private credit, and sustainable equity strategies. The firm is a pioneer in liquid alternatives, managing over $18 billion in liquid alt assets as of December 31, 2024.

With the launch of CPSF, Calamos further strengthens its commitment to providing investors with risk-managed investment solutions. The Structured Protection ETF suite represents a new frontier in portfolio construction, offering investors innovative ways to participate in market growth while managing downside risk.

For more information, visit the Calamos Structured Protection ETF page.

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.