CPSM vs IVV
Calamos S&P 500 Structured Alt Protection ETF - May 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 508 holdings.
Side-by-Side Comparison
| Metric | CPSM | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $57M | $865.2B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 5 | 508 | |
| YTD Return | +3.14% | +14.50% | |
| 1Y Return | +5.18% | +22.02% | |
| 3Y Return (annualized) | - | +21.80% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 1.6% | 15.1% | |
| Max Drawdown | -5.2% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | May 1, 2024 | May 15, 2000 |
CPSM vs IVV Performance
Calamos S&P 500 Structured Alt Protection ETF - May (CPSM) 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 CPSM returned +5.18% while IVV returned +22.02%. Year to date, CPSM is up 3.14% versus a gain of 14.50% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 1.6% for CPSM. 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 -5.2% for CPSM 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPSM 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, CPSM currently yields 0.00% against 1.09% for IVV.
Frequently Asked Questions
Which is cheaper, CPSM or IVV?
CPSM 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, CPSM or IVV?
Over the past year CPSM returned +5.18% vs +22.02% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CPSM annualized +7.52% vs +7.07% for IVV. Past performance does not guarantee future results.
Which is riskier, CPSM or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 1.6% for CPSM. Worst drawdown: CPSM -5.2% vs IVV -56.5%.
Should I hold both CPSM and IVV?
CPSM and IVV have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPSM or IVV?
CPSM yields 0.00% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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