Calamos Nasdaq-100 Structured Alt Protection… (CPNJ) Performance
CPNJ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.4% since Dec 31, 2025
- 1 year
- +3.3% total return
- Since first price
- +15.2% since 2024
CPNJ trailing returns vs SPY, QQQ, AGG
| Period | CPNJ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.5% | −0.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.7% | +0.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.5% | +0.5% | +7.8% | +8.4% | −1.5% |
| YTD | +2.4% | +2.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +3.3% | +3.3% | +14.4% | +15.9% | −1.1% |
| Since inceptionJun 20, 2024 | +15.2% | +15.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CPNJ vs SPY
From Jun 20, 2024: CPNJ grew to $11,518, SPY to $14,304.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CPNJ returns by calendar year
1 of 1 full years positive. Best 2025 (+8.3%), worst 2025 (+8.3%). 2026 is year to date.
CPNJ annual returns table
| Year | CPNJ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +2.4% | −1.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +8.3% | −6.0% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CPNJ risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +6.8% |
| Volatility (annualized) | 3.5% |
| Sharpe ratio | 0.74 |
| Sortino ratio | 1.40 |
| Best month | +4.0% |
| Worst month | −1.9% |
| Best 12 months | +10.9% |
| Worst 12 months | +4.4% |
| Positive months | 81% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CPNJ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 17 | +3.1% | +8.3% | +10.9% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
CPNJ performance overview
Calamos Nasdaq-100 Structured Alt Protection… (CPNJ) returned +3.3% over the past year, with distributions reinvested. Since its first recorded price on Jun 20, 2024 it has returned +15.2%. Over the same year S&P 500 (SPY) returned +14.4%.
Related: CPNJ chart. See the CPNJ overview for the latest quote and fund facts.
CPNJ performance FAQ
What is the CPNJ return over the past year?
CPNJ returned +3.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.3%.
How much would $10,000 invested in CPNJ be worth?
$10,000 invested in CPNJ at its first recorded close on June 20, 2024 would be worth about $11,518 on October 23, 2026 with distributions reinvested.
How volatile is CPNJ?
Over the past history CPNJ had an annualized volatility of 3.5% and a Sharpe ratio of 0.74 (excess return over 1–3 month T-bills per unit of risk).