CPSY vs IVV
Calamos S&P 500 Structured Alt Protection ETF - January 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 505 holdings.
Side-by-Side Comparison
| Metric | CPSY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $26M | $865.2B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 5 | 508 | |
| YTD Return | +3.20% | +13.80% | |
| 1Y Return | +6.58% | +23.70% | |
| 3Y Return (annualized) | - | +21.49% | |
| 5Y Return (annualized) | - | +13.43% | |
| Volatility (annualized) | 2.3% | 15.1% | |
| Max Drawdown | -3.0% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Jan 2, 2025 | May 15, 2000 |
CPSY vs IVV Performance
Calamos S&P 500 Structured Alt Protection ETF - January (CPSY) 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 CPSY returned +6.58% while IVV returned +23.70%. Year to date, CPSY is up 3.20% versus a gain of 13.80% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 2.3% for CPSY. 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 -3.0% for CPSY 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CPSY 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, CPSY currently yields 0.00% against 1.09% for IVV.
Frequently Asked Questions
Which is cheaper, CPSY or IVV?
CPSY 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, CPSY or IVV?
Over the past year CPSY returned +6.58% vs +23.70% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CPSY annualized +6.44% vs +7.05% for IVV. Past performance does not guarantee future results.
Which is riskier, CPSY or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 2.3% for CPSY. Worst drawdown: CPSY -3.0% vs IVV -56.5%.
Should I hold both CPSY and IVV?
CPSY and IVV have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPSY or IVV?
CPSY yields 0.00% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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