A new ETF called CPSM provides investors with complete downside protection against S&P 500 losses for a year. It employs a combination of options positions to achieve this, with investors getting 100% capital protection if they buy on the first day. The ETF has a capped upside and an annual expense ratio of 0.69%. Calamos plans to launch additional structured protection ETFs for other indexes like Nasdaq 100 and Russell 2000.
