CPSA vs VOO
Calamos S&P 500 Structured Alt Protection ETF - August vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CPSA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $43M | $979.0B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 5 | 509 | |
| YTD Return | +4.36% | +13.80% | |
| 1Y Return | +6.98% | +23.71% | |
| 3Y Return (annualized) | - | +21.50% | |
| 5Y Return (annualized) | - | +13.44% | |
| Volatility (annualized) | 2.9% | 14.1% | |
| Max Drawdown | -4.7% | -34.3% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Aug 1, 2024 | Sep 7, 2010 |
CPSA vs VOO Performance
Calamos S&P 500 Structured Alt Protection ETF - August (CPSA) is a ETF from Calamos Investments and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CPSA returned +6.98% while VOO returned +23.71%. Year to date, CPSA is up 4.36% versus a gain of 13.80% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 2.9% for CPSA. 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 -4.7% for CPSA and -34.3% for VOO. 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CPSA charges 0.69% per year while VOO 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, CPSA currently yields 0.00% against 1.09% for VOO.
Frequently Asked Questions
Which is cheaper, CPSA or VOO?
CPSA has an expense ratio of 0.69% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CPSA or VOO?
Over the past year CPSA returned +6.98% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (2 years), CPSA annualized +7.67% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, CPSA or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 2.9% for CPSA. Worst drawdown: CPSA -4.7% vs VOO -34.3%.
Should I hold both CPSA and VOO?
CPSA and VOO have a monthly-return correlation of 0.93, 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, CPSA or VOO?
CPSA yields 0.00% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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