CPSA vs WAR

Comparison between CALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF - AUGUST (CPSA, ETF) and U.S. Global Technology and Aerospace & Defense ETF (WAR, ETF).

CPSA vs WAR - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CPSA(ETF)	WAR(ETF)
Net Assets	$42M	$42M
Expense Ratio	0.69%	0.60%
Max Drawdown	4.72%	13.13%
Sharpe Ratio	1.57	-0.73
5Y Beta	0.22	3.05
P/E Ratio	N/A	333.42
Forward P/E	N/A	35.76
Debt to Equity	N/A	8.00%
P/S Ratio	N/A	12.70
P/B Ratio	N/A	16.51

Net Assets

CPSA

$42M

Winner

WAR

$42M

Expense Ratio

CPSA

0.69%

Winner

WAR

0.60%

Max Drawdown

Winner

CPSA

4.72%

WAR

13.13%

Sharpe Ratio

Winner

CPSA

1.57

WAR

-0.73

5Y Beta

Winner

CPSA

0.22

WAR

3.05

P/E Ratio

CPSA

N/A

WAR

333.42

Forward P/E

CPSA

N/A

WAR

35.76

Debt to Equity

CPSA

N/A

WAR

8.00%

P/S Ratio

CPSA

N/A

WAR

12.70

P/B Ratio

CPSA

N/A

WAR

16.51

CPSA vs WAR - Historical Returns

Returns include dividend reinvestment.

Period	CPSA	WAR
1 month	+0.53%	N/A
3 months	+2.59%	N/A
6 months	+3.15%	N/A
1 year	+7.61%	N/A
Max(CAGR)	+7.45%	-57.68%

CPSA

+0.53%

WAR

N/A

CPSA

+2.59%

WAR

N/A

CPSA

+3.15%

WAR

N/A

CPSA

+7.61%

WAR

N/A

Max(CAGR)

Winner

CPSA

+7.45%

WAR

-57.68%

CPSA vs WAR - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	CPSA	WAR
2026	+2.78%	-3.92%
2025	+7.26%	N/A
2024	+3.51%	N/A

CPSA vs WAR Drawdown Comparison

The maximum drawdown for CPSA was -4.72%, occurring on Apr 8, 2025. Recovery took 60 trading sessions.

The maximum drawdown for WAR was -13.13%, occurring on Jun 10, 2026. This drawdown has not yet recovered.

The current WAR drawdown is -8.22%.

Rank	CPSA	WAR
#1	-4.72% Feb 19, 2025 - May 15, 2025	-13.13% Jun 2, 2026 - Jun 10, 2026
#2	-1.47% Feb 26, 2026 - Apr 8, 2026	-1.63% May 28, 2026 - Jun 2, 2026
#3	-0.93% Jan 24, 2025 - Feb 11, 2025	-1.24% May 26, 2026 - May 28, 2026
#4	-0.86% May 19, 2025 - Jun 3, 2025	N/A
#5	-0.79% Oct 28, 2025 - Nov 28, 2025	N/A
#6	-0.77% Aug 30, 2024 - Sep 13, 2024	N/A
#7	-0.62% Dec 11, 2024 - Dec 24, 2024	N/A
#8	-0.57% Aug 1, 2024 - Aug 13, 2024	N/A
#9	-0.53% Dec 24, 2024 - Jan 15, 2025	N/A
#10	-0.49% Oct 8, 2025 - Oct 21, 2025	N/A
#11	-0.46% Oct 29, 2024 - Nov 6, 2024	N/A
#12	-0.37% Nov 11, 2024 - Nov 25, 2024	N/A
#13	-0.37% Jan 27, 2026 - Feb 9, 2026	N/A
#14	-0.37% Aug 13, 2025 - Aug 22, 2025	N/A
#15	-0.36% Sep 25, 2024 - Oct 11, 2024	N/A

Correlation

Correlation between CPSA and WAR is -1.00 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.

-1.00

-101