Calamos Active Hedged Equity ETF (Cboe BZX: CHDG) is an actively managed exchange-traded fund sponsored by Calamos Advisors LLC that seeks total return with lower volatility than broad equity markets by combining a core U.S. large-cap equity allocation with an actively managed equity-options hedging overlay. The fund primarily obtains S&P 500 exposure through investments in registered investment companies, including the State Street SPDR Portfolio S&P 500 ETF, and employs listed and FLEX options on S&P 500-related ETFs to dynamically manage downside risk, volatility and equity-market participation as market conditions change. CHDG is designed for investors and financial advisers seeking a risk-managed alternative to unhedged U.S. equity exposure or a single-ticker allocation intended to provide some of the diversification traditionally associated with fixed-income allocations. The fund’s products and services consist of actively managed S&P 500 equity exposure; dynamic equity ETF options strategies; downside-risk hedging; volatility-management and risk-adjusted-return capabilities; and annual income distributions. CHDG is benchmarked to the S&P 500 Index and trades on Cboe BZX Exchange. The fund is advised by Calamos Advisors LLC, distributed by Calamos Financial Services LLC and supported by the broader Calamos Investments platform, a Metro Chicago-based diversified global investment manager founded in 1977 that offers alternative, multi-asset, convertible securities, fixed-income and equity strategies through ETFs, mutual funds, closed-end funds, separately managed accounts, private funds and UCITS funds. CHDG’s principal recent strategic development is its launch on August 4, 2026, representing Calamos Investments’ first hedged-equity strategy offered in an ETF wrapper and an expansion of its options-based alternative-investment product range. The strategy builds on Calamos’ existing hedged-equity capabilities and uses continuously adjusted options positions rather than a fixed-schedule hedging program; it carries a 0.64% management fee and a 0.66% total expense ratio.