CPRJ vs SPY
Calamos Russell 2000 Structured Alt Protection ETF - July vs State Street SPDR S&P 500 ETF Trust
Which is better, CPRJ or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CPRJ | SPY |
|---|---|---|
| Expense Ratio | 0.69% | 0.09%Best |
| AUM | $39M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 5 | 505 |
| YTD Return | +2.50% | +12.22%Best |
| 1Y Return | +4.30% | +16.97%Best |
| 3Y Return (annualized) | - | +21.16% |
| 5Y Return (annualized) | - | +13.00% |
| Volatility (annualized) | 4.2%Best | 12.2% |
| Max Drawdown | -6.3%Best | -18.8% |
| $10,000 over 2.2 years | $11,290 | $14,286Best |
| Fund Family | Calamos Investments | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Jul 1, 2024 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.2 years row, are measured over the window both funds cover: Jul 1, 2024 to Sep 17, 2026 (2.2 years).
CPRJ vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.2 years both funds cover.
CPRJ vs SPY Performance
Calamos Russell 2000 Structured Alt Protection ETF - July (CPRJ) is an ETF from Calamos Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CPRJ returned +4.30% while SPY returned +16.97%. Year to date, CPRJ is up 2.50% versus a gain of 12.22% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.2% compared with 4.2% for CPRJ. 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 -6.3% for CPRJ and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CPRJ charges 0.69% per year while SPY charges 0.09%. On a $10,000 position that is $69 vs $9 annually, a gap of $60 per year that compounds over a long holding period. On income, CPRJ currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of CPRJ and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CPRJ or SPY?
CPRJ has an expense ratio of 0.69% while SPY charges 0.09%. SPY is the cheaper option, by $60 a year on a $10,000 investment.
Which performed better, CPRJ or SPY?
Over the past year CPRJ returned +4.30% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), CPRJ annualized +5.67% vs +17.60% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CPRJ or SPY?
SPY has been the more volatile fund at 12.2% annualized versus 4.2% for CPRJ. Worst drawdown: CPRJ -6.3% vs SPY -18.8%.
Should I hold both CPRJ and SPY?
CPRJ and SPY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CPRJ or SPY?
CPRJ yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than CPRJ?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.