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Upturn AI Summary
Calamos Russell 2000 Structured Alt Protection ETF - October(CPRO)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for CPRO
10/14/2026: CPRO (1-star) has a low Upturn Star Rating. Not recommended to BUY.
CPRO provides exposure to the Russell 2000 Index with a structured outcome strategy, offering a 10% downside buffer in exchange for capped upside gains over a one-year period. Its primary strengths are the professional management by Calamos and the ability to mitigate initial equity drawdowns, making it a compelling tool for risk-conscious investors seeking small-cap participation. The main risks include potential losses beyond the 10% buffer and the opportunity cost during strong bull markets where upside is capped. It is best suited for long-term investors who prioritize capital preservation within a specific timeframe and should be monitored for proximity to its annual outcome dates.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The cap on upside performance limits potential growth compared to a standard index fund. |
| Momentum investor | Weak fit | The capped upside structure hinders the ability to capitalize on significant market momentum. |
| Value investor | Mixed fit | The buffer provides downside protection that may appeal to value investors looking to limit drawdowns in small-cap stocks. |
| Dividend/Income investor | Weak fit | This ETF is focused on capital outcome structure rather than generating regular dividend income. |
| Low-risk investor | Strong fit while signal remains positive | The 10% buffer provides a layer of risk mitigation for investors seeking small-cap exposure with reduced downside volatility. |
Investor Profile
Ideal Investor Profile
The ideal investor is someone seeking exposure to the Russell 2000 Index but who is concerned about potential short-term downside and is willing to trade uncapped upside for a defined buffer.
Suitability
Best suited for long-term investors or those holding to the end of the one-year outcome period; not intended for active day-trading.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium | While the buffer reduces downside, the underlying index (Russell 2000) is historically volatile. |
| Market risk | Medium / high | The fund is fully exposed to market losses exceeding the 10% buffer. |
| Concentration | High | The fund is exclusively tied to the performance of the Russell 2000 Index. |
| Tracking/expense | Medium | The complexity of the options strategy can lead to tracking differences versus the index. |
| Liquidity | Medium | Derivative-based ETFs can face liquidity constraints in thin secondary markets. |
| Business/sector quality | Medium | The fund relies on the issuer's ability to manage derivative contracts effectively. |
Risk Analysis
Volatility
CPRO helps dampen the volatility experienced by the holder compared to direct index ownership, as the buffer absorbs initial losses.
Market Risk
The primary risk is the full exposure to any losses that exceed the 10% buffer, in addition to the opportunity cost of capped upside.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Derivatives | Russell 2000 Index Options (Call/Put) | 95 | These options contracts are the primary mechanism for defining the fund's upside cap and downside protection buffer. |
| Cash/collateral | US Treasury Obligations | 5 | Short-term US government securities serve as collateral for the derivative positions and provide a baseline yield. |
Price Behavior
Steady Uptrend
The stock demonstrates consistent and steady upward price momentum.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit 11.44% | Avg. Invested days 84 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 10/14/2026 |
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