CPSR vs VYM
Calamos S&P 500 Structured Alt Protection ETF - March 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 | CPSR | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.04% | |
| AUM | $31M | $79.0B | |
| Dividend Yield | 0.00% | 2.86% | |
| Holdings | 5 | 568 | |
| YTD Return | +3.55% | +16.78% | |
| 1Y Return | +6.13% | +24.43% | |
| 3Y Return (annualized) | - | +18.60% | |
| 5Y Return (annualized) | - | +12.30% | |
| Volatility (annualized) | 1.7% | 14.6% | |
| Max Drawdown | -3.4% | -58.8% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Mar 3, 2025 | Nov 10, 2006 |
CPSR vs VYM Performance
Calamos S&P 500 Structured Alt Protection ETF - March (CPSR) is a ETF from Calamos Investments and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CPSR returned +6.13% while VYM returned +24.43%. Year to date, CPSR is up 3.55% versus a gain of 16.78% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 1.7% for CPSR. 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 -3.4% for CPSR 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 0.55. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPSR 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, CPSR currently yields 0.00% against 2.86% for VYM.
Frequently Asked Questions
Which is cheaper, CPSR or VYM?
CPSR 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, CPSR or VYM?
Over the past year CPSR returned +6.13% vs +24.43% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (1 years), CPSR annualized +6.75% vs +7.11% for VYM. Past performance does not guarantee future results.
Which is riskier, CPSR or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 1.7% for CPSR. Worst drawdown: CPSR -3.4% vs VYM -58.8%.
Should I hold both CPSR and VYM?
CPSR and VYM have a monthly-return correlation of 0.55, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPSR or VYM?
CPSR yields 0.00% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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