CPSF

Calamos S&P 500 Structured Alt Protection ETF February (the "Fund") seeks to provide investment results that, before taking fees and expenses into account, match the positive price return of the SPDR S&P 500 ETF Trust ("Underlying ETF") up to a cap of 7.47% (the "Cap"), while protecting against 100% of negative price return of the Underlying ETF (before fees and expenses), for the period from February 1, 2025 through January 31, 2026. Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options ("FLEX Options") that reference the price performance of the SPDR S&P 500 ETF Trust (the "Underlying ETF"). FLEX Options are customized equity or index option contracts that trade on an exchange but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. FLEX Options are customized equity or index option contracts that trade on an exchange but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates.