(CPRJ) Calamos Trust - Ratings and Ratios

The Calamos ETF Trust (NYSE ARCA:CPRJ) is an exchange-traded fund designed to provide defined outcome exposure to the performance of small-cap equities in the U.S. market. Under normal market conditions, the fund invests substantially all of its assets in FLexible EXchange Options (FLEX Options) that reference the price performance of the iShares® Russell 2000® ETF. FLEX Options are customized equity options that allow for precise risk management and outcome definitions, enabling the fund to deliver returns tied to specific performance parameters of the underlying ETF. The fund is non-diversified, meaning it can concentrate its investments in a limited number of securities or strategies, which may increase its volatility and risk profile compared to diversified funds.

As a defined outcome ETF, CPRJ is structured to offer investors exposure to the Russell 2000 Index, which tracks the performance of approximately 2,000 small-cap companies in the United States. The funds use of FLEX Options allows it to provide a specific risk-return profile, such as buffered losses or enhanced returns, depending on the terms of the options held. This makes it a tool for investors seeking to manage risk or capitalize on specific market conditions in the small-cap segment. The funds assets under management (AUM) total $50.34 million, and it trades with an average daily volume of 2,055 shares, indicating relatively low liquidity compared to larger ETFs.

Based on the current technical and fundamental data, the 3-month forecast for CPRJ suggests moderate volatility with a potential downside bias. The funds short-term moving averages (SMA 20 and SMA 50) are converging at 25.62, slightly above the last price of 25.19, while the SMA 200 stands at 25.30, indicating a neutral to slightly bearish trend. The average true range (ATR) of 0.09 reflects low volatility, suggesting that price movements will likely remain contained within a narrow range. Given the low trading volume and the defined outcome structure, CPRJ is expected to trade within a range of $24.80 to $26.00 over the next three months, with limited upside potential but downside protected by the buffered loss feature of its FLEX Options strategy.