Calamos Russell 2000 Structured Alt Protection ETF – October
CPRO
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2020 Calamos Court Naperville IL United States of America 60563
- IPO Date
- Jan 27, 2016
- Website
- calamos.com
- Similar Companies
- Business
- Calamos Russell 2000 Structured Alt Protection ETF - October (CPRO) is an exchange-traded fund managed by Calamos Investments LLC that seeks to provide investment results matching the positive price return of the iShares Russell 2000 ETF, based on the Russell 2000 Index, up to a predefined cap while offering 100% downside protection against losses over a one-year outcome period before fees and expenses. The fund achieves this exposure through an actively managed portfolio of FLEX options, including long call and put options on the iShares Russell 2000 ETF (IWM) and a short call option, with positions such as a long call at strike 1.67, long put at 241.96, and short call at 260.98, all expiring September 30, 2026; it features an annual expense ratio of 0.69% and is benchmarked against the MerQube Capital Protected US Small Cap PR Index - Oct. Launched on October 1, 2024, CPRO forms part of Calamos' broader suite of Structured Protection ETFs, which provide capital-protected upside exposure to benchmarks including the S&P 500, Nasdaq-100, Russell 2000, and Bitcoin across monthly series. Calamos Investments LLC, founded in 1977 and headquartered in the Chicago metropolitan area with additional offices in New York, San Francisco, Milwaukee, Portland, and Miami, is a diversified global investment firm overseeing approximately $37 billion in assets under management, including over $16 billion in liquid alternatives; it offers strategies through ETFs, separately managed accounts, mutual funds, closed-end funds, interval funds, private funds, and UCITS funds targeting financial advisors, institutions, pension funds, endowments, and high-net-worth individuals. The firm pioneered convertible securities and options-based approaches for risk-managed returns, expanding into liquid alternatives with products like the Market Neutral Income Fund launched in 1990. In recent developments, Calamos launched CPRO on October 1, 2024, alongside the Calamos S&P 500 Structured Alt Protection ETF - October (CPSO), announcing initial cap rates of 8.45% for CPRO (later adjusted to 7.86% gross of expenses as of October 1, 2025) over the outcome period ending September 30, 2025; this followed the April 2024 announcement of 12 new Structured Protection ETFs targeting the growing demand for principal-protected strategies, amid a $309 billion market for such products in 2023. The ETF has grown to about $33.2 million in assets under management as of December 2025, with current cap rates around 6.39% net and protection levels at 98.64%, reflecting ongoing market conditions and daily holdings updates. Managed by Co-CIO Eli Pars and the Alternatives team, CPRO emphasizes tax efficiency, with gains potentially taxed at long-term capital rates if held over one year, positioning it as a cash alternative for equity risk control, retirement derisking, and sideline cash activation.