CPSN Calamos S&P 500 Structured Alt Protection ETF – November

About this ETF

Calamos S&P 500 Structured Alt Protection ETF – November is an exchange-traded fund designed to offer exposure to the positive price returns of the S&P 500 Index, subject to a pre-defined cap, while uniquely providing 100% protection against losses over a specified one-year outcome period, before fees and expenses. The fund achieves its objectives through the use of FLEX options on the S&P 500, allowing it to deliver equity-like upside up to a cap with no downside risk for capital during the outcome period. This ETF primarily targets investors seeking equity participation but who are unwilling to risk significant drawdowns, such as retirees or those desiring equity risk control near major financial milestones. Additionally, its structure makes it a potential tax-advantaged cash alternative, enabling investors to activate sidelined capital in pursuit of growth with principal protection, while gains within the ETF may benefit from tax deferral typical of ETF wrappers. CPSN resets its terms annually, providing a fresh upside cap and renewed protection each year. Overall, this ETF stands out within the structured outcome market for delivering a defined blend of growth and risk mitigation tied to the S&P 500’s performance.