Calamos ETF Trust - Calamos Nasdaq-100 Structured Alt Protection ETF - December

CPNQ invests all of its assets in FLEX options. The option position seeks to generate returns that match the performance of QQQ shares, up to a cap, while protecting against 100% of losses over a one-year period. The upside cap is reset every year, at the beginning of December. Shareholders should note they will not receive any dividends. The objective focuses on the potential growth over a specific defined time. The outcome pursued may only be possible if an investor were to hold the shares for the entire outcome period. However, there is no guarantee that the defined outcome of the strategy pursued will be realized by investors. The targeted buffers and caps do not include the fund's expense ratio.