Calamos Nasdaq-100 Structured Alt Protection… (CPNQ) Performance
CPNQ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +4.9% since Dec 31, 2025
- 1 year
- +6.0% total return
- Since first price
- +13.4% since 2024
CPNQ trailing returns vs SPY, QQQ, AGG
| Period | CPNQ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.1% | +0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.9% | +1.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.3% | +3.3% | +7.8% | +8.4% | −1.5% |
| YTD | +4.9% | +4.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +6.0% | +6.0% | +14.4% | +15.9% | −1.1% |
| Since inceptionDec 2, 2024 | +13.4% | +13.4% | — | — | — |
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: CPNQ vs SPY
From Dec 2, 2024: CPNQ grew to $11,336, SPY to $12,881.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CPNQ returns by calendar year
1 of 1 full years positive. Best 2025 (+7.8%), worst 2025 (+7.8%). 2026 is year to date.
CPNQ annual returns table
| Year | CPNQ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +4.9% | −1.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.8% | −3.5% | +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.
CPNQ risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +7.3% |
| Volatility (annualized) | 2.8% |
| Sharpe ratio | 1.21 |
| Sortino ratio | 2.17 |
| Best month | +2.2% |
| Worst month | −1.5% |
| Best 12 months | +10.2% |
| Worst 12 months | +6.6% |
| 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.
CPNQ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 11 | +5.8% | +7.4% | +10.2% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
CPNQ performance overview
Calamos Nasdaq-100 Structured Alt Protection… (CPNQ) returned +6.0% over the past year, with distributions reinvested. Since its first recorded price on Dec 2, 2024 it has returned +13.4%. Over the same year S&P 500 (SPY) returned +14.4%.
Related: CPNQ chart. See the CPNQ overview for the latest quote and fund facts.
CPNQ performance FAQ
What is the CPNQ return over the past year?
CPNQ returned +6.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 6.0%.
How much would $10,000 invested in CPNQ be worth?
$10,000 invested in CPNQ at its first recorded close on December 2, 2024 would be worth about $11,336 on October 23, 2026 with distributions reinvested.
How volatile is CPNQ?
Over the past history CPNQ had an annualized volatility of 2.8% and a Sharpe ratio of 1.21 (excess return over 1–3 month T-bills per unit of risk).