CPSU vs DSEP
Calamos S&P 500 Structured Alt Protection ETF - June vs FT Vest US Equity Deep Buffer ETF - September
Which is better, CPSU or DSEP?
DSEP has been ahead.
CPSU has a lower expense ratio. DSEP led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CPSU | DSEP |
|---|---|---|
| Expense Ratio | 0.69%Best | 0.85% |
| AUM | $29M | $423M |
| Dividend Yield | 0.00% | 0.00% |
| Holdings | 10 | 10 |
| YTD Return | +3.34% | +8.74%Best |
| 1Y Return | +4.25% | +9.57%Best |
| 3Y Return (annualized) | - | +12.09% |
| 5Y Return (annualized) | - | +8.23% |
| Volatility (annualized) | 1.3%Best | 5.5% |
| Max Drawdown | -1.0%Best | -4.5% |
| $10,000 over 1.4 years | $10,743 | $11,799Best |
| Fund Family | Calamos Investments | First Trust Portfolios (US) |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Jun 2, 2025 | Sep 18, 2020 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Jun 2, 2025 to Nov 11, 2026 (1.4 years).
CPSU vs DSEP growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.4 years both funds cover.
CPSU vs DSEP Performance
Calamos S&P 500 Structured Alt Protection ETF - June (CPSU) is an ETF from Calamos Investments and FT Vest US Equity Deep Buffer ETF - September (DSEP) is an ETF from First Trust Portfolios (US). Over the past year CPSU returned +4.25% while DSEP returned +9.57%. Year to date, CPSU is up 3.34% versus a gain of 8.74% for DSEP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DSEP has been the more volatile fund, with annualized monthly volatility of 5.5% compared with 1.3% for CPSU. 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 -1.0% for CPSU and -4.5% for DSEP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CPSU charges 0.69% per year while DSEP charges 0.85%. On a $10,000 position that is $69 vs $85 annually, a gap of $16 per year that compounds over a long holding period. On income, CPSU currently yields 0.00% against 0.00% for DSEP.
You are not choosing between two funds in isolation.
Whichever of CPSU and DSEP you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CPSU or DSEP?
CPSU has an expense ratio of 0.69% while DSEP charges 0.85%. CPSU is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, CPSU or DSEP?
Over the past year CPSU returned +4.25% vs +9.57% for DSEP, so DSEP leads on 1-year performance. Over the longest common window we track (1 years), CPSU annualized +5.25% vs +12.54% for DSEP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CPSU or DSEP?
DSEP has been the more volatile fund at 5.5% annualized versus 1.3% for CPSU. Worst drawdown: CPSU -1.0% vs DSEP -4.5%.
Should I hold both CPSU and DSEP?
CPSU and DSEP have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CPSU or DSEP?
CPSU yields 0.00% while DSEP yields 0.00%, so DSEP currently pays the higher dividend yield.
Is DSEP better than CPSU?
CPSU has a lower expense ratio. DSEP led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.