CPRY vs IVV
CPRY vs IVV
Calamos Russell 2000 Structured Alt Protection ETF - January 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 505 holdings.
Side-by-Side Comparison
| Metric | CPRY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $37M | $865.2B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 5 | 508 | |
| YTD Return | +4.28% | +13.80% | |
| 1Y Return | +11.93% | +23.70% | |
| 3Y Return (annualized) | - | +21.49% | |
| 5Y Return (annualized) | - | +13.43% | |
| Volatility (annualized) | 3.0% | 15.1% | |
| Max Drawdown | -3.2% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Jan 2, 2025 | May 15, 2000 |
CPRY vs IVV Performance
Calamos Russell 2000 Structured Alt Protection ETF - January (CPRY) 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 CPRY returned +11.93% while IVV returned +23.70%. Year to date, CPRY is up 4.28% versus a gain of 13.80% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 3.0% for CPRY. 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 -3.2% for CPRY 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPRY 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, CPRY currently yields 0.00% against 1.09% for IVV.
Frequently Asked Questions
Which is cheaper, CPRY or IVV?
CPRY 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, CPRY or IVV?
Over the past year CPRY returned +11.93% vs +23.70% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CPRY annualized +8.25% vs +7.05% for IVV. Past performance does not guarantee future results.
Which is riskier, CPRY or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 3.0% for CPRY. Worst drawdown: CPRY -3.2% vs IVV -56.5%.
Should I hold both CPRY and IVV?
CPRY and IVV have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPRY or IVV?
CPRY yields 0.00% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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