# Calamos S&P 500 Structured Alt Protection ETF – January (CPSY) — Overview

CPSY · NYSE · Fund

Canonical page: https://www.lighthorse.io/tickers/cpsy

## Price

Last close $26.19 on Oct 15, 2026. 52-week range $24.66 – $26.20.

## Fund profile

CPSY seeks to track the return of the SPDR S&P 500 ETF Trust (SPY), to a cap, with 100% downside hedge over a one-year outcome period. The actively managed fund holds FLEX options to obtain exposure. The fund aims to outperform cash holdings.

| Metric | Value |
| --- | --- |
| Issuer | Calamos Advisors LLC |
| Industry | — |
| Inception | Jan 2, 2025 |
| Assets under management | $28.8M |
| Expense ratio | 0.69% |
| Net asset value | $26.19 (as of Oct 14, 2026) |
| Distributions | Annually |
| Leverage | 1x |

## Frequently Asked Questions

### What is Calamos S&P 500 Structured Alt Protection ETF – January (CPSY)?

CPSY seeks to track the return of the SPDR S&P 500 ETF Trust (SPY), to a cap, with 100% downside hedge over a one-year outcome period. The actively managed fund holds FLEX options to obtain exposure. The fund aims to outperform cash holdings.

### What is CPSY's expense ratio?

Calamos S&P 500 Structured Alt Protection ETF – January charges an annual expense ratio of 0.69%. The fund is issued by Calamos Advisors LLC.

### How large is CPSY?

Calamos S&P 500 Structured Alt Protection ETF – January manages $28.8M in assets and has traded since Jan 2, 2025.

### How do I buy shares of Calamos S&P 500 Structured Alt Protection ETF – January (CPSY)?

CPSY trades commission-free with a Light Horse Securities brokerage account — from the mobile app, the web at [Light Horse Dashboard](https://portal.lighthorse.io), the trading API, or an [AI agent connected over MCP](/instructions/ai/claude). The trade panel on this page places the order once you are signed in.

---

Quotes and charts are not real-time and must not be relied on for trade decisions or valuation.

This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

Data provided by [AInvest](https://www.ainvest.com).