Understanding the Calamos S&P 500 Structured Alt Protection ETF January (CPSY)

What this ETF is trying to do

The Calamos S&P 500 Structured Alt Protection ETF January (ticker: CPSY) is an exchange-traded fund listed on the NYSE. While the specific investment strategy details are not provided in this report, it is categorized as an ETF rather than a leveraged, inverse, or crypto-related fund.

What the numbers show

The data shows how the share price of CPSY has moved over different time periods. Because this fund uses a "split-adjusted" method, the returns listed account for any changes in the number of shares.

• Year-to-Date (YTD) Price Return: The share price has increased by approximately 4.37% since the start of the year.

• One-Year Price Return: Over the last 12 months, the share price has grown by approximately 5.97%.

• Total Return: For both the YTD and one-year periods, the total return is reported as 4.37% and 5.97%, respectively. In this case, the total return matches the price return.

To visualize the price change, an investor's share price would have moved from an estimated $24.70 one year ago to the current price of $26.18.

Income and distribution explanation

Some investors look for ETFs that pay regular cash, known as distributions. For CPSY, the data shows 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 ETF is a "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). It is important to distinguish this from a simple drop in share price.

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 erosion score is 100, which is labeled as "No price erosion detected." Additionally, there is no severe erosion-risk flag for this ETF.

Pros

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

• Low Erosion Risk: Based on the supplied erosion score, there are no signs of price erosion detected.

Cons

• No Reported Income: This ETF has not provided any distributions or cash income to investors in the last year.

Beginner takeaway

CPSY 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 distributions to investors. Based on the available data, the fund does not show signs of price erosion.