CPNS vs IVV
Calamos Nasdaq-100 Structured Alt Protection ETF - September 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 | CPNS | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $21M | $907.0B | |
| Dividend Yield | 0.00% | 1.10% | |
| Holdings | 5 | 508 | |
| YTD Return | +4.11% | +12.28% | |
| 1Y Return | +6.51% | +20.94% | |
| 3Y Return (annualized) | - | +21.81% | |
| 5Y Return (annualized) | - | +13.05% | |
| Volatility (annualized) | 2.9% | 15.1% | |
| Max Drawdown | -4.0% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 3, 2024 | May 15, 2000 |
CPNS vs IVV Performance
Calamos Nasdaq-100 Structured Alt Protection ETF - September (CPNS) 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 CPNS returned +6.51% while IVV returned +20.94%. Year to date, CPNS is up 4.11% versus a gain of 12.28% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 2.9% for CPNS. 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 -4.0% for CPNS 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
CPNS 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, CPNS currently yields 0.00% against 1.10% for IVV.
Holdings Overlap
CPNS and IVV share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CPNS or IVV?
CPNS 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, CPNS or IVV?
Over the past year CPNS returned +6.51% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CPNS annualized +7.33% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, CPNS or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 2.9% for CPNS. Worst drawdown: CPNS -4.0% vs IVV -56.5%.
Should I hold both CPNS and IVV?
CPNS 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.
What is the holdings overlap between CPNS and IVV?
CPNS and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, CPNS or IVV?
CPNS yields 0.00% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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