CPNS vs VYM
Calamos Nasdaq-100 Structured Alt Protection ETF - September 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 558 holdings.
Side-by-Side Comparison
| Metric | CPNS | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.04% | |
| AUM | $21M | $79.0B | |
| Dividend Yield | 0.00% | 2.86% | |
| Holdings | 5 | 568 | |
| YTD Return | +4.04% | +16.53% | |
| 1Y Return | +6.42% | +25.03% | |
| 3Y Return (annualized) | - | +18.54% | |
| 5Y Return (annualized) | - | +12.25% | |
| Volatility (annualized) | 2.9% | 14.6% | |
| Max Drawdown | -4.0% | -58.8% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 3, 2024 | Nov 10, 2006 |
CPNS vs VYM Performance
Calamos Nasdaq-100 Structured Alt Protection ETF - September (CPNS) is a ETF from Calamos Investments and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CPNS returned +6.42% while VYM returned +25.03%. Year to date, CPNS is up 4.04% versus a gain of 16.53% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% 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 -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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPNS 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, CPNS currently yields 0.00% against 2.86% for VYM.
Holdings Overlap
CPNS and VYM share 0 holdings out of 559 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 VYM?
CPNS 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, CPNS or VYM?
Over the past year CPNS returned +6.42% vs +25.03% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (2 years), CPNS annualized +7.38% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, CPNS or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 2.9% for CPNS. Worst drawdown: CPNS -4.0% vs VYM -58.8%.
Should I hold both CPNS and VYM?
CPNS and VYM have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CPNS and VYM?
CPNS and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, CPNS or VYM?
CPNS yields 0.00% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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