{
 "ticker": "CPRA",
 "name": "Calamos Russell 2000 \u00ae Structured Alt Protection ETF - April",
 "issuer": "Calamos",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/CPRA",
 "html": "https://etfiq.com/funds/CPRA",
 "markdown": "https://etfiq.com/funds/CPRA.md",
 "as_of": "2026-09-12",
 "verdict": "As of Sep 12, 2026, CPRA has reached its cap.",
 "key_facts": [
  {
   "key": "fall_before_the_buffer",
   "label": "Fall before the buffer",
   "value": "3.7%",
   "source": null,
   "as_of": "2026-09-12",
   "sentence": "CPRA, fall before the buffer: 3.7%, as of Sep 12, 2026."
  },
  {
   "key": "protection_left_index_points",
   "label": "Protection left, index points",
   "value": "99.7%",
   "source": null,
   "as_of": "2026-09-12",
   "sentence": "CPRA, protection left, index points: 99.7%, as of Sep 12, 2026."
  },
  {
   "key": "days_to_reset",
   "label": "Days to reset",
   "value": "201",
   "source": null,
   "as_of": "2026-09-12",
   "sentence": "CPRA, days to reset: 201, as of Sep 12, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$10m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-12",
   "sentence": "CPRA, net assets: $10m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.69%",
   "source": "issuer page, Sep 12, 2026",
   "as_of": "2026-09-12",
   "sentence": "CPRA, expense ratio: 0.69% (issuer page, Sep 12, 2026)."
  },
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "IWM",
   "source": null,
   "as_of": "2026-09-12",
   "sentence": "CPRA, reference index: IWM, as of Sep 12, 2026."
  }
 ],
 "fields": [
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "IWM",
   "source": null
  },
  {
   "key": "buffer",
   "label": "Buffer",
   "value": "0% to 100%",
   "source": null
  },
  {
   "key": "outcome_period",
   "label": "Outcome period",
   "value": "Apr 1, 2026 to Apr 1, 2027",
   "source": null
  },
  {
   "key": "starting_cap",
   "label": "Starting cap",
   "value": "+7.7%",
   "source": null
  },
  {
   "key": "iwm_return_since_period_start",
   "label": "IWM return since period start",
   "value": "+15.8%",
   "source": null
  },
  {
   "key": "fund_return_since_period_start",
   "label": "Fund return since period start",
   "value": "+3.6%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$10m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "band_state_today",
   "label": "Band state today",
   "value": "At cap",
   "source": "ETFIQ"
  },
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "not published",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_before_buffer",
   "label": "Fall before buffer",
   "value": "3.7%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_to_the_buffer_in_index_terms",
   "label": "Fall to the buffer in index terms",
   "value": "13.9%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_in_index_points",
   "label": "Protection left in index points",
   "value": "99.7% of 99.7%",
   "source": "ETFIQ"
  },
  {
   "key": "days_left_in_period",
   "label": "Days left in period",
   "value": "201",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.69%",
   "source": "issuer page, Sep 12, 2026"
  }
 ],
 "periods": [],
 "questions": [
  {
   "q": "How much can CPRA still gain?",
   "a": "Nothing more in index terms on Sep 12, 2026. IWM has already passed the cap of +7.7% for this period, which runs from Apr 1, 2026 to Apr 1, 2027."
  },
  {
   "q": "How far can CPRA fall before the buffer helps?",
   "a": "3.7% in fund-price terms on Sep 12, 2026, by the issuer's figure. In index terms IWM can fall 13.9% from that level before the buffer begins. Losses until that point are the holder's."
  },
  {
   "q": "How much of the CPRA buffer is left?",
   "a": "99.7% of the 99.7% buffer sat below the IWM level on Sep 12, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer."
  },
  {
   "q": "When does CPRA reset?",
   "a": "The outcome period ends on Apr 1, 2027, 201 days from the data on Sep 12, 2026. A new cap is set the next day and the buffer starts again."
  },
  {
   "q": "What does CPRA cost?",
   "a": "The prospectus expense ratio is 0.69% a year."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}