Home etftrends.com Calamos Plans Launch of Nasdaq-100® Structured Alt Protection ETF™- June (CPNJ)

Calamos Plans Launch of Nasdaq-100® Structured Alt Protection ETF™- June (CPNJ)

Calamos Plans Launch of Nasdaq-100® Structured Alt Protection ETF™- June (CPNJ),
9.83% – 10.33%Upside Cap Range with 100% Downside Protection Over One Year

  • CPNJ targets an attractive upside cap range near historical return averages for the Nasdaq- 100 Index while mitigating volatility and eliminating risk of loss concerns.
  • CPNJ follows the successful launch of Calamos S&P 500 ® Structured Alt Protection ETF™ (CPSM), which has grown to more than $100M in AUM since listing May 1st.
  • The Calamos Structured Protection ETF™ suite integrates Calamos’ decades-long alternatives and options investing expertise into the liquid, cost-effective and tax-efficient ETF structure.

Metro Chicago, Illinois, May 20, 2024, Calamos Investments LLC (“Calamos”), a leading alternatives manager, today announced the planned launch of the Calamos Nasdaq-100® Structured Alt Protection ETF(Ticker: CPNJ) on June 3rd, with an 9.83% – 10.33% cap range delivered over a one-year outcome period, before fees and expenses. CPNJ will be the second fund in Calamos’ Structured Protection ETFlineup. The fund will use FLEX Options to construct a capital protected strategy that shields capital invested at the starting NAV against 100% of loss over the full outcome period.

Calamos Nasdaq-100® Structured Alt Protection ETF™ – June (CPNJ)
Cap Range9.83% – 10.33%
Outcome Period1 Year: 6/03/2024 to 5/30/2025
Reference AssetPrice return of Invesco QQQ Trust, Series 1, based on the Nasdaq- 100® Index
Structured Protection100% downside protection if held through the one-year outcome period
Annual Expense Ratio0.69%
Portfolio ManagementCo-CIO Eli Pars and the Alternatives Team
BenchmarksNasdaq-100® Index, Price Return

MerQube Capital Protected US Large Cap Tech Index – June

Tax ApplicationGains in an ETF grow tax-deferred and will be taxed at long-term capital gain rates if held longer than one year

“We achieved rapid success with the launch of the Calamos S&P 500 Structured Alt Protection ETF – May, due to its innovative ability to provide capital-protected exposure to the globally recognized S&P 500 Index,” said John Koudounis, President & CEO. “With CPNJ, we reinforce the same capital protected value proposition, now for the Nasdaq-100 a symbol of American innovation and source of growth for investors. We are thrilled to introduce CPNJ and look forward to launching additional series from our Calamos Structured Protection ETF suite.”

On a rolling basis, the Nasdaq-100 total return Index historically sees a max drawdown averaging -20.95% in any 12-month period and experienced a max drawdown of -81 .92% after the bust of the Dot com bubble1. Since inception, the index has an annualized return of 9.93%.

CPNJ will reset annually, offering investors a new upside cap with refreshed protection against negative returns of the Nasdaq-100 over the subsequent 12-month period. If shares are held longer than one year, CPNJ can deliver significant tax alpha as potential gains will grow tax- deferred and will be taxed at long-term capital gains rates. Shares of CPNJ can be held indefinitely.

Learn more about Calamos Nasdaq-100® Structured Alt Protection ETF(CPNJ) and the full suite of Calamos Structured Protection ETFsTM, including the forthcoming ETFs providing capital protected exposure to the Russell 2000.

About Calamos

Calamos Investments is a diversified global investment firm offering innovative investment strategies, including alternatives, multi-asset, convertible, fixed income, private credit, equity, and sustainable equity. With $37.1 billion in AUM, including more than $16 billion in liquid alternatives assets as of March 31, 2024, the firm offers strategies through ETFs, mutual funds, closed-end funds, interval funds, and UCITS funds, and separately managed portfolios. Clients include financial advisors, wealth management platforms, pension funds, foundations & endowments, and individuals, globally.

Headquartered in the Chicago metropolitan area, the firm also has offices in New  York, San  Francisco, Milwaukee, Portland (Oregon), and the Miami area. For more information, visit us on LinkedIn, on Twitter (@Calamos), on Instagram (@calamos_investments), or at www.calamos.com.


Launch DateTickerETF NameUpside Cap or RangeProtection LevelOutcome Period
May 1, 2024CPSMCalamos S&P 500 Structured Alt Protection ETF – May9.81%100%1 Year
June 3, 2024CPNJCalamos Nasdaq 100 Structured Alt Protection ETF – June9.83% – 10.33%100%1 Year
July 1, 2024CPRJCalamos Russell 2000 Structured Alt Protection ETF* – JulyTBD100%1 Year
August 1, 2024CPSACalamos S&P 500 Structured Alt Protection ETF – AugustTBD100%1 Year
September 3, 2024CPNSCalamos Nasdaq-100 Structured Alt Protection ETF – SeptemberTBD100%1 Year
October 1, 2024CPROCalamos Russell 2000 Structured Alt Protection ETF* – OctoberTBD100%1 Year
November 1, 2024CPSNCalamos S&P 500 Structured Alt Protection ETF – NovemberTBD100%1 Year
December 2, 2024CPNQCalamos Nasdaq-100 Structured Alt Protection ETF – DecemberTBD100%1 Year
January 2, 2025CPRYCalamos Russell 2000 Structured Alt Protection ETF* – JanuaryTBD100%1 Year
February 3, 2025CPSFCalamos S&P 500 Structured Alt Protection ETF – FebruaryTBD100%1 Year
March 3, 2025CPNMCalamos Nasdaq-100 Structured Alt Protection ETF – MarchTBD100%1 Year
April 1, 2025CPRACalamos Russell 2000 Structured Alt Protection ETF* – AprilTBD100%1 Year

For more news, information, and analysis, visit the Alternatives Channel.

Disclosure Information

The information in each fund’s prospectus and statement of additional information) is not complete and may be changed. We may not sell the securities of any fund until such fund’s registration statement filed with the Securities and Exchange Commission is effective. Each fund’s prospectus and statement of additional information is not an offer to sell such fund’s securities and is not soliciting an offer to buy such fund’s securities in any state where the offer or sale is not permitted.

Before investing, carefully consider the fund’s investment objectives, risks, and charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-866-363-9219. Read it carefully before investing.

Calamos Investments LLC, referred to herein Calamos is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP, and Calamos Financial Services LLC.

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus.

Investing involves risks. Loss of principal is possible. The Fund(s) face numerous market trading risks, including authorized participation concentration risk, cap change risk, capital protection risk, capped upside risk, cash holdings risk, clearing member default risk, correlation risk, derivatives risk, equity securities risk, investment timing risk, large-capitalization investing risk, liquidity risk, market maker risk, market risk, non-diversification risk, options risk, premium-discount risk, secondary market trading risk, sector risk, tax risk, trading issues risk, underlying ETF risk and valuation risk. For a detailed list of fund risks see the prospectus.

There are no assurances the Fund(s) will be successful in providing the sought-after protection. The outcomes that the Fund(s) seeks to provide may only be realized if you are holding shares on the first day of the outcome period and continue to hold them on the last day of the outcome period, approximately one year. There is no guarantee that the outcomes for an outcome period will be realized or that the Fund(s) will achieve its investment objective. If the outcome period has begun and the underlying ETF has increased in value, any appreciation of the Fund(s) by virtue of increases in the underlying ETF since the commencement of the outcome period will not be protected by the sought-after protection, and an investor could experience losses until the underlying ETF returns to the original price at the commencement of the outcome period.

Fund shareholders are subject to an upside return cap (the “Cap”) that represents the maximum percentage return an investor can achieve from an investment in the fund(s) for the outcome period, before fees and expenses. If the outcome period has begun and the Fund(s) have increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one outcome period to the next. The Cap, and the Fund(s) position relative to it, should be considered before investing in the Fund(s). The Fund(s) website, www.calamos.com, provides important Fund information as well information relating to the potential outcomes of an investment in the Fund(s) on a daily basis.

The Fund(s) are designed to provide point-to-point exposure to the price return of the reference asset via a basket of Flex Options. As a result, the ETFs are not expected to move directly in line with the reference asset during the interim period. Investors purchasing shares after an outcome period has begun may experience very different results than fund’s investment objective. Initial outcome periods are approximately 1-year beginning on the fund’s inception date. Following the initial outcome period, each subsequent outcome period will begin on the first day of the month the fund was incepted. After the conclusion of an outcome period, another will begin.

FLEX Options Risk The Fund(s) will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund(s) could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund(s) may have difficulty closing out certain FLEX Options positions at desired times and prices.

The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset. Shares are bought and sold at market price, not net asset value (NAV), and are not individually redeemable from the fund. NAV represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where fund shares are listed.

100% capital protection is over a one-year period before fees and expenses. All caps are pre-determined.

Cap Rate – Maximum percentage return an investor can achieve from an investment in the Fund if held over the Outcome Period.

Cap Range–Cap ranges are based on the last 15 trading days prior to range announcement, based on market conditions during the sample period, and are subject to change. The actual cap rate may be different based on market events.

Protection Level Amount of protection the Fund is designed to achieve over the Days Remaining.

Outcome Period Number of days in the Outcome Period.

1 The calculation dates for the Nasdaq-100 rolling periods are 3/5/1999-5/5/2024. Data as of 3/31/24.

Calamos Financial Services LLC, Distributor

© 2024 Calamos Investments LLC. All Rights Reserved. Calamos® and Calamos Investments® are registered trademarks of Calamos Investments LLC.

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