CPSN vs SCHD
Calamos S&P 500 Structured Alt Protection ETF - November vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | CPSN | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.06% | |
| AUM | $35M | $103.7B | |
| Dividend Yield | 0.00% | 3.31% | |
| Holdings | 5 | 104 | |
| YTD Return | +3.88% | +25.33% | |
| 1Y Return | +6.40% | +32.31% | |
| 3Y Return (annualized) | - | +15.40% | |
| 5Y Return (annualized) | - | +9.70% | |
| Volatility (annualized) | 2.5% | 13.6% | |
| Max Drawdown | -3.2% | -33.4% | |
| Fund Family | Calamos Investments | Charles Schwab Asset Management | |
| Category | Alternative | Equity | |
| Inception | Nov 1, 2024 | Oct 20, 2011 |
CPSN vs SCHD Performance
Calamos S&P 500 Structured Alt Protection ETF - November (CPSN) is a ETF from Calamos Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year CPSN returned +6.40% while SCHD returned +32.31%. Year to date, CPSN is up 3.88% versus a gain of 25.33% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 2.5% for CPSN. 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 CPSN and -33.4% for SCHD. 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 0.27. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPSN charges 0.69% per year while SCHD charges 0.06%. On a $10,000 position that is $69 vs $6 annually, a gap of $63 per year that compounds over a long holding period. On income, CPSN currently yields 0.00% against 3.31% for SCHD.
Frequently Asked Questions
Which is cheaper, CPSN or SCHD?
CPSN has an expense ratio of 0.69% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $63 per year of difference.
Which performed better, CPSN or SCHD?
Over the past year CPSN returned +6.40% vs +32.31% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (2 years), CPSN annualized +6.33% vs +11.45% for SCHD. Past performance does not guarantee future results.
Which is riskier, CPSN or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 2.5% for CPSN. Worst drawdown: CPSN -3.2% vs SCHD -33.4%.
Should I hold both CPSN and SCHD?
CPSN and SCHD have a monthly-return correlation of 0.27, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPSN or SCHD?
CPSN yields 0.00% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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