Calamos S&P 500 Structured Alt Protection ETF – September

Calamos S&P 500 Structured Alt Protection ETF – September is an exchange-traded fund designed to provide investors with defined exposure to the price return of the S&P 500 Index, while delivering unique downside protection features. Its key characteristic is the capacity to match positive price returns of the S&P 500 up to a specified cap over a one-year outcome period, simultaneously offering 100% protection against losses during that period before fees and expenses. This protective structure is achieved through the use of Flex Options referencing the SPDR S&P 500 ETF Trust, allowing the fund to preserve capital for investors wary of market drawdowns, such as retirees or those seeking a risk-controlled equity allocation. By blending equity upside potential with principal protection, it serves as a tax-advantaged cash alternative and as part of a broader risk management strategy in diversified portfolios. The fund primarily targets large-cap U.S. equities and employs derivatives to efficiently manage risk and return outcomes. With its defined cap and principal protection features, Calamos S&P 500 Structured Alt Protection ETF – September plays a distinctive role in offering equity participation for those who prioritize portfolio stability over uncapped market gains.