Understanding the Calamos S&P 500 Structured Alt Protection ETF December (CPSD)

What this ETF is trying to do

The Calamos S&P 500 Structured Alt Protection ETF December (ticker: CPSD) is an exchange-traded fund listed on the NYSE. Based on its name, it is designed around a structured protection strategy related to the S&P 500.

What the numbers show

The data shows how the share price of CPSD has moved over different time periods.

• Year-to-Date (YTD): The price return is approximately 4.44%.

• One-Year: The one-year price return is approximately 6.32%.

• Current Price: As of October 2, 2026, the price is $27.18.

For comparison, an estimated price from roughly one year ago was approximately $25.56. Because this ETF does not have a history of stock splits, these figures represent the direct movement of the share price. In this specific case, the YTD total return and the YTD price return are both 4.438%, meaning there were no additional returns from distributions to add to the price change.

Income and distribution explanation

Currently, CPSD shows a distribution yield of 0%. The data indicates that no distributions were detected over the last 12 months. Because there have been no payouts, the income rating for this ETF is a grade of "C" with a score of 62.

NAV erosion explanation

NAV erosion refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). 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, looking at the price-based evidence, the fund has an erosion score of 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag present.

Pros

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

• Low Erosion Risk: The erosion-risk measurements suggest that the share price has not shown signs of significant deterioration.

Cons

• No Recent Income: For investors looking for regular cash payments, this ETF has not provided any distributions in the last year.

• Limited Data: There is no three-year price or total return data available in the current report.

Beginner takeaway

CPSD is an ETF that has seen its share price grow over the last year. While it has shown positive price returns, it is not currently providing cash income to investors through distributions. The fund's price stability appears healthy according to the provided erosion-risk scores.