What this ETF is trying to do

The CALAMOS S&P 500 Structured Alt Protection ETF (CPST) is an exchange-traded fund. Based on its name, it is designed to provide a structured approach to the S&P 500 with a focus on "alt protection."

What the numbers show

As of October 5, 2026, the current price of one share is $28.18.

When looking at how the price has changed, the data shows:

• Year-to-Date (YTD): The price return is approximately 4.28%.

• One Year: The price return is approximately 5.21%.

Because this ETF has not paid out distributions, the price return and the total return are the same. For example, the one-year total return is also 5.21%. An estimated price from roughly one year ago was $26.79. If an investor had put $10,000 into the fund based on that estimated price, the price-only growth would be worth approximately $10,521 today.

Income and distribution explanation

Some investors use ETFs to get regular cash payments, known as distributions. However, this ETF has a distribution yield of 0%. No distributions were detected over the last 12 months. This means the fund does not currently provide a cash income stream to its shareholders.

NAV erosion explanation

"NAV erosion" happens when the underlying value of a fund's assets drops significantly over time. StockValueFinder uses an erosion-risk score to measure this.

CPST has an erosion score of 100, and the erosion severity is labeled as "good." The data states that no price erosion was detected, and the severe erosion-risk flag is false.

Pros

• Positive Price Movement: The fund has shown positive price returns for both the year-to-date and one-year periods.

• Low Erosion Risk: The erosion-risk measurements indicate that the fund has not suffered from significant price deterioration.

Cons

• No Income: For investors who need regular cash payments, this fund may not be suitable because it has a 0% distribution yield.

• Limited History: Three-year and five-year return data were not supplied.

Beginner takeaway

CPST is a fund that has seen its share price grow slightly over the last year. It is not an income-generating fund, as it pays no distributions. While it currently shows a "good" erosion-risk score, new investors should remember that a high distribution yield in other funds can sometimes be misleading if the share price is falling. In this case, there is no yield, but the price has remained stable or grown.