Data as of Oct 28, 2026.
CPSD vs VOO: Differences, Returns & Fees
Over the year to Oct 28, 2026, CPSD returned +6.1% to VOO's +13.7%, and VOO charges 0.03% to CPSD's 0.69%.
askIQ about this page
askIQ about CPSD and VOO
Net assets: $46m on Oct 28, 2026 for Calamos S&P 500 Structured Alt Protection ETF - December, and $1.0tn on Sep 30, 2026 for Vanguard S&P 500 ETF.
Pair scorecard
VOO costs 0.66 points a year less; their one-year returns differ by 7.6 points.
| Measure | CPSD | VOO |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.1% | +13.7% |
| Drawdown | ||
| Index fall to the buffer | 11.9% | |
| Fund price fall to the buffer | 5.7% | |
| Benchmark | ||
| What it tracks | SPY | S&P 500 Index |
| The outcome period | ||
| Buffer left, in index points | 100.0% of 100.0% | |
| Days left in the period | 33 | |
| Cost and size | ||
| Expense ratio | 0.69% | 0.03% |
| Net assets, CPSD as of Oct 28, 2026 and VOO as of Sep 30, 2026 | $46m | $1.0tn |
| Holdings | ||
| Holdings in common | not published | |
| Top ten holdings, share of the fund | 39.1% | |
Risk and return
Dec 13, 2024 to Oct 23, 2026 · 97 weekly returnsEach against its own benchmark: CPSD against SPY, Dec 13, 2024 to Oct 23, 2026; VOO against IVV, Sep 17, 2010 to Oct 23, 2026.
VOO returned more: +28.8% to +12.4%. CPSD swung less: 2.9% to 14.9%. CPSD fell less at its worst: −3.0% to −16.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | CPSD | VOO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +12.4% | +28.8% | VOO | Price change plus distributions, reinvested. |
| Annualized | +6.4% | +14.5% | VOO | Total return as a yearly rate. |
| Price return | +12.4% | +25.7% | VOO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 2.9% | 14.9% | CPSD | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 1.9% | 9.9% | CPSD | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −3.0% | −16.7% | CPSD | Deepest fall from a high to the low after it. |
| Upside capture | 16.2% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 18.6% | 99.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.18 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.85 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.78 | 0.72 | CPSD (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.22 | 1.08 | CPSD | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.127 | 0.134 | Return above Treasury bills per unit of beta. | |
| Calmar | 2.14 | 0.87 | CPSD | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | IVV | The ETF each fund is measured against. | |
| Alpha | +0.4% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.44 | 0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.3% to +2.0% | −0.1% to +0.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.68 | 0.02 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 12.4% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 97 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
CPSD and VOO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
CPSD and VOO do different jobs. What does each one do in a portfolio?
- What each follows. CPSD follows SPY and VOO follows S&P 500 Index.
- One-year total return. Over 1 year to Oct 28, 2026 CPSD returned +6.1% and VOO +13.7% with distributions reinvested, a gap of 7.6 points.
- Cost. CPSD charges 0.69% of assets a year and VOO 0.03%, a gap of 0.66 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
SPY had already risen past this fund's cap of +6.7% for the period on Oct 28, 2026, so in index terms there is no more upside to collect.
The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.9% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 33 days remained on Oct 28, 2026. On Nov 30, 2026 the period ends and a new cap is set.
VOO
VOO tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 507 positions, with the top ten at 39.1%.
Questions people ask
- Are CPSD and VOO in the same category?
- CPSD is a buffer ETF and VOO is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, CPSD or VOO?
- In the year to Oct 28, 2026, with distributions reinvested, CPSD returned +6.1% and VOO +13.7%.
- Which is cheaper, CPSD or VOO?
- VOO is cheaper, by 0.66 percentage points a year. That is about $66 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
Cite this pageCitation, APA and Markdown
ETFIQ, CPSD against VOO, data as of Oct 28, 2026. https://etfiq.com/compare/any/cpsd-vs-voo
ETFIQ. (Oct 28, 2026). CPSD against VOO. Retrieved from https://etfiq.com/compare/any/cpsd-vs-voo
[CPSD against VOO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/cpsd-vs-voo)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.