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Upturn AI Summary
Calamos S&P 500 Structured Alt Protection ETF - March(CPSR)
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 CPSR
10/08/2026: CPSR (1-star) has a low Upturn Star Rating. Not recommended to BUY.
CPSR provides equity exposure to the S&P 500 while offering a 10% downside buffer and capped upside return over an annual period. It achieves this through a sophisticated FLEX option overlay managed by Calamos, making it a strong tool for risk-sensitive investors looking to mitigate market volatility. The primary risks involve losses exceeding the 10% buffer and missing out on significant market rallies due to the upside cap. It is best suited for long-term holders rather than active traders, and investors should closely monitor the fund's outcome period dates and the impact of implied volatility on the option structure.
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 | Weak fit | The upside cap limits the total return potential that growth-focused investors typically seek. |
| Momentum investor | Weak fit | This fund is designed for risk mitigation rather than capitalizing on strong upward momentum. |
| Value investor | Mixed fit | Value investors may appreciate the downside protection as a way to preserve capital during market corrections. |
| Dividend/Income investor | Weak fit | The fund does not focus on generating yield through dividend payments. |
| Low-risk investor | Strong fit | The 10% buffer provides a specific, quantified layer of protection that appeals to risk-averse equity investors. |
Investor Profile
Ideal Investor Profile
The ideal investor is someone nearing retirement or with a low-to-moderate risk tolerance who wishes to remain invested in the stock market but fears a significant market correction.
Suitability
CPSR is best suited for long-term investors who intend to hold the fund for the full one-year outcome period.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium | The fund's return is sensitive to changes in implied volatility, which affects option pricing. |
| Market risk | Medium / high | The fund remains exposed to the S&P 500 and will experience losses if the market declines beyond the 10% buffer. |
| Concentration | High | The fund is entirely tied to the performance of the S&P 500 index. |
| Tracking/expense | Medium | The complexity of the strategy and the expense ratio can create a drag on total net returns compared to the index. |
| Liquidity | Medium | Lower trading volume may lead to potential slippage when entering or exiting positions. |
| Business/sector quality | Low | The fund relies on the issuer's ability to maintain complex derivative contracts. |
Risk Analysis
Volatility
CPSR reduces realized volatility compared to the S&P 500 by limiting the impact of market dips, though its price remains sensitive to options pricing.
Market Risk
The fund retains market risk; it is not capital protected, and losses beyond the 10% buffer are fully borne by the investor.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Derivatives | S&P 500 Price Return Index FLEX Options | 95 | These options provide the specific buffer and cap structure that defines the fund's risk-reward profile. |
| Cash/collateral | US Treasury Bills / Cash | 5 | This component acts as collateral to support the derivative positions and ensures liquidity. |
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 5.58% | Avg. Invested days 132 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  5.0 | ETF Returns Performance  2.0 |
| Profits based on simulation | Last Close 10/08/2026 |
ETF Fundamentals 
Source: EOD Historical Data • Updated Oct 8, 2026
Fund Basics
| Metric | Value |
|---|---|
| Fund Size (AUM) | $34.16M |
| Issuer | Calamos |
| Distribution Yield | 0% |
| Inception | Feb 28, 2025 |
Performance
| Period | Total Return |
|---|---|
| YTD | +3.96% |
| 1 Year | +5.53% |
Risk Metrics
| Metric | Value |
|---|---|
| 1Y Volatility | 1.9% |
| 3Y Volatility | 0% |
| 3Y Sharpe Ratio | 0 |
Top Sectors
| Sector | Weight |
|---|---|
| Basic Materials | 0.00% |
| Consumer Cyclicals | 0.00% |
| Financial Services | 0.00% |
| Real Estate | 0.00% |
Asset Allocation
Portfolio Characteristics
| Metric | Value |
|---|---|
| Distribution Yield | 0% |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
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