Understanding the CALAMOS NASDAQ-100 STRUCTURED ALT PROTECTION ETF - DECEMBER (CPNQ)

What this ETF is trying to do

The CALAMOS NASDAQ-100 STRUCTURED ALT PROTECTION ETF - DECEMBER (ticker: CPNQ) is an exchange-traded fund listed on the NYSE. While the specific investment strategy details are not provided in this report, the fund is categorized as an ETF.

What the numbers show

The data shows how the share price of CPNQ has moved over different time periods. Because this fund uses a "split-adjusted" method, the returns listed below reflect changes in the share price after accounting for any stock splits.

• Year-to-Date (YTD) Price Return: The share price has increased by approximately 5.15% since the start of the year.

• One-Year Price Return: Over the last 12 months, the share price has increased by approximately 6.70%.

• Current Price: As of October 2, 2026, the price is $27.92.

• Estimated Price from Roughly One Year Ago: The estimated price was approximately $26.16.

For this ETF, the "price return" and the "total return" are the same (5.15% YTD and 6.70% one-year). This means the total return figures provided include only the movement of the share price.

Income and distribution explanation

Some investors look for ETFs that pay regular cash, known as distributions. Based on the supplied data, CPNQ has a distribution yield of 0%. There have been no distributions detected over the last 12 months. Because there are no payouts, the income rating for this fund is a "C" with a score of 64.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). It is important to distinguish this from a "share-price decline," which is just the market price of the ETF going down.

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion. However, regarding price-based evidence:

• The erosion score is 100.

• The erosion label indicates "No price erosion detected."

• The erosion severity is rated as "good."

• There is no severe erosion-risk flag present.

Pros

• The ETF has shown positive price returns both year-to-date and over the last year.

• The erosion-risk measurements suggest there is no detected price erosion at this time.

Cons

• The fund does not currently provide cash distributions or income to investors.

• There is no data available regarding the fund's top holdings or specific portfolio exposure.

Beginner takeaway

CPNQ is an ETF that has seen its share price grow over the last year. While it has grown in value, it does not currently pay out regular income or distributions to shareholders. Investors tracking price stability may note that the fund's erosion-risk indicators are currently rated as "good."