CPNM vs VYM
Calamos Nasdaq-100 Structured Alt Protection ETF - March vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | CPNM | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.04% | |
| AUM | $15M | $81.6B | |
| Dividend Yield | 0.00% | 2.24% | |
| Holdings | 5 | 616 | |
| YTD Return | +3.60% | +15.34% | |
| 1Y Return | +6.57% | +23.24% | |
| 3Y Return (annualized) | - | +19.22% | |
| 5Y Return (annualized) | - | +12.21% | |
| Volatility (annualized) | 2.0% | 14.6% | |
| Max Drawdown | -1.9% | -58.8% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Mar 3, 2025 | Nov 10, 2006 |
CPNM vs VYM Performance
Calamos Nasdaq-100 Structured Alt Protection ETF - March (CPNM) is a ETF from Calamos Investments and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CPNM returned +6.57% while VYM returned +23.24%. Year to date, CPNM is up 3.60% versus a gain of 15.34% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 2.0% for CPNM. 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 -1.9% for CPNM and -58.8% for VYM. 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPNM charges 0.69% per year while VYM charges 0.04%. On a $10,000 position that is $69 vs $4 annually, a gap of $65 per year that compounds over a long holding period. On income, CPNM currently yields 0.00% against 2.24% for VYM.
Frequently Asked Questions
Which is cheaper, CPNM or VYM?
CPNM has an expense ratio of 0.69% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $65 per year of difference.
Which performed better, CPNM or VYM?
Over the past year CPNM returned +6.57% vs +23.24% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (2 years), CPNM annualized +7.04% vs +7.04% for VYM. Past performance does not guarantee future results.
Which is riskier, CPNM or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 2.0% for CPNM. Worst drawdown: CPNM -1.9% vs VYM -58.8%.
Should I hold both CPNM and VYM?
CPNM and VYM have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPNM or VYM?
CPNM yields 0.00% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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