CPNQ vs IVV
Calamos Nasdaq-100 Structured Alt Protection ETF - December 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 | CPNQ | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $22M | $907.0B | |
| Dividend Yield | 0.00% | 1.10% | |
| Holdings | 5 | 508 | |
| YTD Return | +4.07% | +12.71% | |
| 1Y Return | +7.20% | +21.89% | |
| 3Y Return (annualized) | - | +22.08% | |
| 5Y Return (annualized) | - | +12.96% | |
| Volatility (annualized) | 2.8% | 15.1% | |
| Max Drawdown | -3.5% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Dec 2, 2024 | May 15, 2000 |
CPNQ vs IVV Performance
Calamos Nasdaq-100 Structured Alt Protection ETF - December (CPNQ) 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 CPNQ returned +7.20% while IVV returned +21.89%. Year to date, CPNQ is up 4.07% 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 2.8% for CPNQ. 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 -3.5% for CPNQ 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CPNQ 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, CPNQ currently yields 0.00% against 1.10% for IVV.
Frequently Asked Questions
Which is cheaper, CPNQ or IVV?
CPNQ 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, CPNQ or IVV?
Over the past year CPNQ returned +7.20% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CPNQ annualized +7.02% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, CPNQ or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 2.8% for CPNQ. Worst drawdown: CPNQ -3.5% vs IVV -56.5%.
Should I hold both CPNQ and IVV?
CPNQ and IVV have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, CPNQ or IVV?
CPNQ yields 0.00% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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