CPSN vs FIAT

Comparison between CALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF - JULY (CPSN, ETF) and YIELDMAX(R) SHORT COIN OPTION INCOME STRATEGY ETF (FIAT, ETF).

CPSN vs FIAT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CPSN(ETF)	FIAT(ETF)
Net Assets	$35M	$35M
Expense Ratio	0.69%	1.05%
Max Drawdown	87.50%	91.52%
Sharpe Ratio	1.07	1.00
5Y Beta	0.16	-1.82

Net Assets

CPSN

$35M

Winner

FIAT

$35M

Expense Ratio

Winner

CPSN

0.69%

FIAT

1.05%

Max Drawdown

Winner

CPSN

87.50%

FIAT

91.52%

Sharpe Ratio

Winner

CPSN

1.07

FIAT

1.00

5Y Beta

CPSN

0.16

Winner

FIAT

-1.82

CPSN vs FIAT - Historical Returns

Returns include dividend reinvestment.

Period	CPSN	FIAT
1 month	+0.49%	-6.90%
3 months	+1.89%	+4.45%
6 months	+3.06%	+5.29%
1 year	+6.13%	+51.31%
5 years(CAGR)	+94.43%	N/A
Max(CAGR)	+42.62%	-24.76%

Winner

CPSN

+0.49%

FIAT

-6.90%

CPSN

+1.89%

Winner

FIAT

+4.45%

CPSN

+3.06%

Winner

FIAT

+5.29%

CPSN

+6.13%

Winner

FIAT

+51.31%

5Y(CAGR)

CPSN

+94.43%

FIAT

N/A

Max(CAGR)

Winner

CPSN

+42.62%

FIAT

-24.76%

CPSN vs FIAT - Annual Returns (2018 - 2026)

Returns include dividend reinvestment.

Year	CPSN	FIAT
2026	+3.16%	+7.52%
2025	+6.19%	-23.87%
2024	+0.82%	-28.97%
2022	+0.00%	N/A
2021	-37.50%	N/A
2020	-20.00%	N/A
2019	+8.70%	N/A
2018	+56.97%	N/A

CPSN vs FIAT Drawdown Comparison

The maximum drawdown for CPSN was -87.50%, occurring on Sep 7, 2021. Recovery took 618 trading sessions.

The maximum drawdown for FIAT was -70.67%, occurring on Jul 18, 2025. This drawdown has not yet recovered.

The current CPSN drawdown is -0.07%. The current FIAT drawdown is -55.17%.

Rank	CPSN	FIAT
#1	-87.50% Aug 27, 2018 - Nov 1, 2024	-70.67% Sep 6, 2024 - Jul 18, 2025
#2	-6.40% Aug 15, 2018 - Aug 17, 2018	-15.42% Jul 11, 2024 - Aug 1, 2024
#3	-3.23% Feb 19, 2025 - May 14, 2025	-5.43% Aug 12, 2024 - Aug 28, 2024
#4	-1.63% Feb 9, 2026 - Apr 13, 2026	-0.64% Aug 7, 2024 - Aug 12, 2024
#5	-1.46% Aug 17, 2018 - Aug 21, 2018	N/A
#6	-0.61% Jun 2, 2026 - Jun 15, 2026	N/A
#7	-0.61% Aug 7, 2018 - Aug 9, 2018	N/A
#8	-0.60% Nov 11, 2025 - Nov 26, 2025	N/A
#9	-0.60% May 19, 2025 - Jun 3, 2025	N/A
#10	-0.51% Dec 16, 2024 - Dec 24, 2024	N/A
#11	-0.51% Jun 16, 2026 - Jun 30, 2026	N/A
#12	-0.49% Jan 6, 2025 - Jan 17, 2025	N/A
#13	-0.41% Jan 24, 2025 - Feb 6, 2025	N/A
#14	-0.39% Jan 28, 2026 - Feb 9, 2026	N/A
#15	-0.37% Jan 12, 2026 - Jan 26, 2026	N/A

Correlation

Correlation between CPSN and FIAT is -0.47 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.47

-101