CPSP vs IVV
Calamos S&P 500 Structured Alt Protection ETF - April 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 | CPSP | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $22M | $907.0B | |
| Dividend Yield | 0.00% | 1.10% | |
| Holdings | 5 | 508 | |
| YTD Return | +4.05% | +12.28% | |
| 1Y Return | +6.27% | +20.94% | |
| 3Y Return (annualized) | - | +21.81% | |
| 5Y Return (annualized) | - | +13.05% | |
| Volatility (annualized) | 1.1% | 15.1% | |
| Max Drawdown | -1.7% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 1, 2025 | May 15, 2000 |
CPSP vs IVV Performance
Calamos S&P 500 Structured Alt Protection ETF - April (CPSP) 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 CPSP returned +6.27% while IVV returned +20.94%. Year to date, CPSP is up 4.05% versus a gain of 12.28% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 1.1% for CPSP. 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 -1.7% for CPSP 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CPSP 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, CPSP currently yields 0.00% against 1.10% for IVV.
Frequently Asked Questions
Which is cheaper, CPSP or IVV?
CPSP 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, CPSP or IVV?
Over the past year CPSP returned +6.27% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (1 years), CPSP annualized +6.97% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, CPSP or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 1.1% for CPSP. Worst drawdown: CPSP -1.7% vs IVV -56.5%.
Should I hold both CPSP and IVV?
CPSP and IVV have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPSP or IVV?
CPSP yields 0.00% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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