CPSA vs OVM
Comparison between CALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF - AUGUST (CPSA, ETF) and OVERLAY SHARES MUNICIPAL BOND ETF (OVM, ETF).
CPSA vs OVM - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
CPSA
$42M
Winner
OVM
$43M
Expense Ratio
Winner
CPSA
0.69%
OVM
0.81%
Max Drawdown
Winner
CPSA
4.72%
OVM
24.24%
Sharpe Ratio
Winner
CPSA
1.19
OVM
1.17
5Y Beta
CPSA
0.21
Winner
OVM
0.18
5Y Dividends CAGR
CPSA
N/A
OVM
6.82%
CPSA vs OVM - Historical Returns
Returns include dividend reinvestment.
1M
Winner
CPSA
+0.41%
OVM
-0.85%
3M
Winner
CPSA
+1.75%
OVM
+0.01%
6M
Winner
CPSA
+3.11%
OVM
+2.30%
1Y
CPSA
+6.52%
Winner
OVM
+8.78%
5Y(CAGR)
CPSA
N/A
OVM
+1.09%
Max(CAGR)
Winner
CPSA
+7.35%
OVM
+2.56%
CPSA vs OVM - Annual Returns (2019 - 2026)
Returns include dividend reinvestment.
| Year | CPSA | OVM |
|---|---|---|
| 2026 | +3.40% | +2.56% |
| 2025 | +7.26% | +4.18% |
| 2024 | +3.51% | +3.99% |
| 2023 | N/A | +6.98% |
| 2022 | N/A | -11.22% |
| 2021 | N/A | +4.98% |
| 2020 | N/A | +6.00% |
| 2019 | N/A | +1.72% |
CPSA vs OVM Drawdown Comparison
The maximum drawdown for CPSA was -4.72%, occurring on Apr 8, 2025. Recovery took 60 trading sessions.
The maximum drawdown for OVM was -15.58%, occurring on Sep 30, 2022. Recovery took 694 trading sessions.
The current OVM drawdown is -1.51%.
| Rank | CPSA | OVM |
|---|---|---|
| #1 | -4.72% Feb 19, 2025 - May 15, 2025 | -15.58% Dec 28, 2021 - Oct 2, 2024 |
| #2 | -1.47% Feb 26, 2026 - Apr 8, 2026 | -14.90% Feb 20, 2020 - Jul 9, 2020 |
| #3 | -0.93% Jan 24, 2025 - Feb 11, 2025 | -8.20% Dec 6, 2024 - Oct 15, 2025 |
| #4 | -0.86% May 19, 2025 - Jun 3, 2025 | -2.44% Feb 27, 2026 - Apr 30, 2026 |
| #5 | -0.79% Oct 28, 2025 - Nov 28, 2025 | -2.22% Feb 12, 2021 - Apr 15, 2021 |
| #6 | -0.77% Aug 30, 2024 - Sep 13, 2024 | -2.12% Oct 2, 2024 - Nov 27, 2024 |
| #7 | -0.62% Dec 11, 2024 - Dec 24, 2024 | -2.06% Sep 9, 2021 - Dec 28, 2021 |
| #8 | -0.57% Aug 1, 2024 - Aug 13, 2024 | -1.84% Aug 10, 2020 - Nov 17, 2020 |
| #9 | -0.53% Dec 24, 2024 - Jan 15, 2025 | -1.51% Jul 6, 2026 - Jul 21, 2026 |
| #10 | -0.49% Oct 8, 2025 - Oct 21, 2025 | -1.50% Oct 27, 2025 - Dec 10, 2025 |
| #11 | -0.46% Oct 29, 2024 - Nov 6, 2024 | -1.24% May 8, 2026 - May 27, 2026 |
| #12 | -0.37% Nov 11, 2024 - Nov 25, 2024 | -1.22% Jan 14, 2026 - Feb 2, 2026 |
| #13 | -0.37% Jan 27, 2026 - Feb 9, 2026 | -1.17% Dec 24, 2020 - Jan 20, 2021 |
| #14 | -0.37% Aug 13, 2025 - Aug 22, 2025 | -1.07% Jun 4, 2026 - Jul 2, 2026 |
| #15 | -0.36% Sep 25, 2024 - Oct 11, 2024 | -0.82% May 7, 2021 - May 25, 2021 |
Correlation
Correlation between CPSA and OVM is 0.82 which considered as a strong positive correlation - the stocks tend to move together.
0.82
-101
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