Calamos Russell 2000 Structured Alt Protection ETF – July (CPRJ) Fund Overview
Educational signal · not a buy or sell recommendation · How to read this
Beta 0.40: the stock has moved about 60% less than the S&P 500.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gemini-2.0-flash, generated Mar 17, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
Quick AnswerCalamos Russell 2000 Structured Alt Protection ETF – July (CPRJ) trades at $27.44. Sector: Financials.
Price as of · Last analyzed: Mar 17, 2026Analyst Coverage for CPRJ: CPRJ does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage.
Calamos Russell 2000 Structured Alt Protection ETF – July (CPRJ) Financial Services Profile
Calamos Russell 2000 Structured Alt Protection ETF – July (CPRJ) provides investors with exposure to the Russell 2000 while limiting downside risk through structured protection. The ETF seeks to match the Russell 2000's upside potential up to a cap, offering a risk-managed approach within the asset management sector, appealing to investors seeking downside protection.
What Is the Investment Thesis for CPRJ?
CPRJ presents a compelling, risk-managed approach to Russell 2000 exposure. The ETF's primary value driver is its defined protection against losses, appealing to risk-averse investors. A key growth catalyst is increasing investor demand for downside protection amid market volatility. CPRJ's capped upside participation may limit returns in strongly bullish markets, but its risk mitigation strategy is attractive in uncertain economic environments. The ETF's success hinges on its ability to accurately track the Russell 2000's positive movements while effectively hedging against potential losses. CPRJ's expense ratio and trading volume will influence its overall attractiveness to investors. The ETF's beta of 0.40 suggests lower volatility compared to the broader market.
Based on FMP financials and quantitative analysis
CPRJ Key Highlights
CPRJ offers 100% downside protection over a one-year period, providing a safety net for risk-averse investors.
- The ETF aims to match the positive price return of the Russell 2000 up to a defined cap, allowing participation in market gains.
- CPRJ's beta of 0.40 indicates lower volatility compared to the overall market, potentially reducing portfolio risk.
- As an ETF, CPRJ offers intraday liquidity, allowing investors to buy or sell shares throughout the trading day.
- CPRJ's strategy is designed to provide a balance between growth potential and capital preservation, appealing to investors with specific risk-return objectives.
Who Are CPRJ's Competitors?
CPRJ is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| BSTP Innovator Buffer Step-Up Strategy ETF | $40.51 | +0.39% | $61.5M | — |
| CPSJ Calamos S&P 500 Structured Alt Protection ETF – July | $28.05 | +0.12% | $41.8M | — |
| ISVL iShares International Developed Small Cap Value Factor ETF | $53.55 | +0.26% | $331M | — |
| JANT AllianzIM U.S. Equity Buffer10 Jan ETF | $45.59 | +0.38% | $64.6M | — |
| JUNM FT Vest U.S. Equity Max Buffer ETF - June | $35.52 | +0.13% | $65.6M | — |
| BLK BlackRock, Inc. | $1066.45 | +0.64% | $165B | 51 5-pillar |
| BX Blackstone Inc. | $111.64 | -0.09% | $136B | 68 5-pillar |
| APOS Apollo Global Management, Inc. | $25.59 | 0.00% | $74.8B | 56 5-pillar |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are CPRJ's Key Strengths?
100% downside protection over a one-year period.
- Exposure to the Russell 2000 index.
- Clearly defined investment objective.
- Lower volatility compared to the overall market (beta of 0.40).
What Are CPRJ's Weaknesses?
Capped upside participation.
- Expense ratio may be higher than traditional index ETFs.
- Performance may be affected by the cost of hedging and derivatives.
What Are the Key Risks for CPRJ?
CPRJ's capped upside participation may limit returns in strongly bullish markets.
- The cost of hedging and derivatives could negatively impact CPRJ's performance.
- Changes in interest rates could affect the value of CPRJ's underlying assets.
What Threats Does CPRJ Face?
- Market volatility.
- Competition from other structured ETFs.
- Changes in interest rates.
- Regulatory changes.
What Are CPRJ's Competitive Advantages?
- Defined Downside Protection: CPRJ's 100% downside protection over a one-year period provides a unique selling proposition.
- Structured Approach: The ETF's structured approach to risk management differentiates it from traditional index-tracking ETFs.
- Calamos Brand: Calamos is a well-established asset manager with a reputation for innovation and expertise.
What Does CPRJ Do?
Calamos Russell 2000 Structured Alt Protection ETF – July (CPRJ) is an exchange-traded fund (ETF) designed to provide investors with a unique investment strategy focused on the Russell 2000 index. CPRJ aims to deliver the positive price return of the Russell 2000, up to a predetermined cap, while simultaneously offering 100% protection against losses over a one-year period, before fees and expenses. This structured approach is intended to provide investors with participation in the potential upside of the Russell 2000 while mitigating downside risk. CPRJ's investment strategy involves the use of financial instruments and derivatives to achieve its stated objectives. The ETF is part of the Calamos Structured Protection ETF family, which offers similar strategies tied to different underlying assets and time horizons. CPRJ is designed for investors seeking a balance between growth potential and capital preservation, particularly those concerned about market volatility and downside risk. The ETF's structure makes it a distinctive offering within the asset management industry, catering to a specific risk-return profile.
What Products and Services Does CPRJ Offer?
- Offers an ETF that tracks the Russell 2000 index.
- Provides 100% downside protection against losses over a one-year period (before fees and expenses).
- Aims to match the positive price return of the Russell 2000 up to a defined cap.
- Utilizes financial instruments and derivatives to achieve its investment objectives.
- Provides a risk-managed approach to investing in the Russell 2000.
- Caters to investors seeking a balance between growth potential and capital preservation.
How Does CPRJ Make Money?
- Generates revenue through management fees charged on assets under management (AUM).
- The expense ratio covers the costs of managing the fund, including trading and administrative expenses.
- Attracts investors seeking downside protection and participation in the Russell 2000's upside potential.
What Industry Does CPRJ Operate In?
CPRJ operates within the asset management industry, specifically in the ETF market. The ETF market has experienced substantial growth in recent years, driven by increasing investor demand for low-cost, liquid, and diversified investment products. CPRJ's focus on downside protection differentiates it from traditional index-tracking ETFs. The competitive landscape includes other structured ETFs and risk-managed investment products. CPRJ's success depends on its ability to effectively deliver its stated objectives and attract investors seeking downside protection in a volatile market environment. The growth of the ETF market is projected to continue, creating opportunities for CPRJ to expand its assets under management.
Who Are CPRJ's Key Customers?
- Retail investors seeking downside protection.
- Financial advisors looking for risk-managed investment solutions for their clients.
- Institutional investors seeking to hedge their Russell 2000 exposure.
Research confidence
Thin evidence — scoring coverage unknown. Treat this as a starting point, not a conclusion.
- ● Scoring coverage unknown
- ● Price is current
- ● No filing on record
- ● No analyst coverage
- ● This is an etf, not an operating company
CPRJ Financials
Bull Case vs Bear Case
Bull Case
- 100% downside protection over a one-year period.
- Exposure to the Russell 2000 index.
- Clearly defined investment objective.
- Lower volatility compared to the overall market (beta of 0.40).
Bear Case
- Capped upside participation.
- Expense ratio may be higher than traditional index ETFs.
- Performance may be affected by the cost of hedging and derivatives.
- Potential: CPRJ's capped upside participation may limit returns in strongly bullish markets.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
CPRJ Latest News
No recent news available for CPRJ.
CPRJ Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations collected by Financial Modeling Prep for CPRJ.
Price Targets
Wall Street price target analysis for CPRJ.
CPRJ MoonshotScore
MoonshotScore is Stock Expert AI's proprietary 0-100 research rating, not a buy or sell recommendation. No MoonshotScore is published for CPRJ; grades run from A+ (80-100) to F (below 30).
What Investors Ask About Calamos Russell 2000 Structured Alt Protection ETF – July (CPRJ) — Financials
How sensitive is CPRJ to changes in the Russell 2000 index?
CPRJ's performance is directly linked to the Russell 2000 index, as it aims to mirror the index's positive price return up to a defined cap.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
MoonshotScore is not published for this security.
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.