BAFE vs CPSL
Brown Advisory Flexible Equity ETF vs Calamos Laddered S&P 500 Structured Alt Protection ETF
Which is better, BAFE or CPSL?
BAFE has been ahead.
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. BAFE is less concentrated, with 45.4% of the fund in its ten largest positions against 83.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BAFE | CPSL |
|---|---|---|
| Expense Ratio | 0.54%Best | 0.79% |
| AUM | $1.8B | $158M |
| Dividend Yield | 0.27% | 0.00% |
| Holdings | 90 | 14 |
| YTD Return | +9.97%Best | +4.30% |
| 1Y Return | +12.65%Best | +5.70% |
| Volatility (annualized) | 13.2% | 2.3%Best |
| Max Drawdown | -18.4% | -3.7%Best |
| $10,000 over 1.9 years | $12,035Best | $11,171 |
| Top 10 Weight | 45.4%Best | 83.3% |
| Fund Family | Brown Advisory | Calamos Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 18, 2024 | Sep 9, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Nov 18, 2024 to Oct 14, 2026 (1.9 years).
BAFE vs CPSL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.9 years both funds cover.
BAFE vs CPSL Performance
Brown Advisory Flexible Equity ETF (BAFE) is an ETF from Brown Advisory and Calamos Laddered S&P 500 Structured Alt Protection ETF (CPSL) is an ETF from Calamos Investments. Over the past year BAFE returned +12.65% while CPSL returned +5.70%. Year to date, BAFE is up 9.97% versus a gain of 4.30% for CPSL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BAFE has been the more volatile fund, with annualized monthly volatility of 13.2% compared with 2.3% for CPSL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for BAFE and -3.7% for CPSL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BAFE charges 0.54% per year while CPSL charges 0.79%. On a $10,000 position that is $54 vs $79 annually, a gap of $25 per year that compounds over a long holding period. On income, BAFE currently yields 0.27% against 0.00% for CPSL.
Holdings Overlap
We hold position weights for 42 holdings in BAFE and 12 in CPSL, totalling 98.4% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 42 positions we hold weights for in BAFE and 12 in CPSL, against full books of 90 and 14.
What only one of them owns
Our book lists 12 positions for CPSL that do not appear in our book for BAFE (99.9% of the fund), and 37 for BAFE that do not appear in CPSL (82.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of BAFE and CPSL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BAFE or CPSL?
BAFE has an expense ratio of 0.54% while CPSL charges 0.79%. BAFE is the cheaper option, by $25 a year on a $10,000 investment.
Which performed better, BAFE or CPSL?
Over the past year BAFE returned +12.65% vs +5.70% for CPSL, so BAFE leads on 1-year performance. Over the longest common window we track (2 years), BAFE annualized +10.24% vs +6.00% for CPSL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BAFE or CPSL?
BAFE has been the more volatile fund at 13.2% annualized versus 2.3% for CPSL. Worst drawdown: BAFE -18.4% vs CPSL -3.7%.
Should I hold both BAFE and CPSL?
BAFE and CPSL have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BAFE or CPSL?
BAFE yields 0.27% while CPSL yields 0.00%, so BAFE currently pays the higher dividend yield.
Is CPSL better than BAFE?
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. BAFE is less concentrated, with 45.4% of the fund in its ten largest positions against 83.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.