CPNJ vs IVV
Calamos Nasdaq-100 Structured Alt Protection ETF - June vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | CPNJ | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $42M | $907.0B | |
| Dividend Yield | 0.00% | 1.10% | |
| Holdings | 5 | 508 | |
| YTD Return | +2.34% | +12.71% | |
| 1Y Return | +4.86% | +21.89% | |
| 3Y Return (annualized) | - | +22.08% | |
| 5Y Return (annualized) | - | +12.96% | |
| Volatility (annualized) | 3.5% | 15.1% | |
| Max Drawdown | -6.0% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 3, 2024 | May 15, 2000 |
CPNJ vs IVV Performance
Calamos Nasdaq-100 Structured Alt Protection ETF - June (CPNJ) is a ETF from Calamos Investments and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CPNJ returned +4.86% while IVV returned +21.89%. Year to date, CPNJ is up 2.34% versus a gain of 12.71% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 3.5% for CPNJ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.0% for CPNJ and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CPNJ charges 0.69% per year while IVV charges 0.03%. On a $10,000 position that is $69 vs $3 annually, a gap of $66 per year that compounds over a long holding period. On income, CPNJ currently yields 0.00% against 1.10% for IVV.
Frequently Asked Questions
Which is cheaper, CPNJ or IVV?
CPNJ has an expense ratio of 0.69% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CPNJ or IVV?
Over the past year CPNJ returned +4.86% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CPNJ annualized +7.32% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, CPNJ or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 3.5% for CPNJ. Worst drawdown: CPNJ -6.0% vs IVV -56.5%.
Should I hold both CPNJ and IVV?
CPNJ and IVV have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPNJ or IVV?
CPNJ yields 0.00% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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