CPSF vs VYM
Calamos S&P 500 Structured Alt Protection ETF - February 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 | CPSF | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.04% | |
| AUM | $34M | $79.0B | |
| Dividend Yield | 0.00% | 2.86% | |
| Holdings | 5 | 568 | |
| YTD Return | +3.32% | +16.10% | |
| 1Y Return | +6.56% | +25.99% | |
| 3Y Return (annualized) | - | +18.29% | |
| 5Y Return (annualized) | - | +12.35% | |
| Volatility (annualized) | 2.3% | 14.6% | |
| Max Drawdown | -2.9% | -58.8% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Feb 3, 2025 | Nov 10, 2006 |
CPSF vs VYM Performance
Calamos S&P 500 Structured Alt Protection ETF - February (CPSF) is a ETF from Calamos Investments and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CPSF returned +6.56% while VYM returned +25.99%. Year to date, CPSF is up 3.32% versus a gain of 16.10% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 2.3% for CPSF. 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 -2.9% for CPSF 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPSF 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, CPSF currently yields 0.00% against 2.86% for VYM.
Frequently Asked Questions
Which is cheaper, CPSF or VYM?
CPSF 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, CPSF or VYM?
Over the past year CPSF returned +6.56% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (2 years), CPSF annualized +6.34% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, CPSF or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 2.3% for CPSF. Worst drawdown: CPSF -2.9% vs VYM -58.8%.
Should I hold both CPSF and VYM?
CPSF and VYM have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPSF or VYM?
CPSF yields 0.00% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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