Calamos Bitcoin Structured Alt Protection ETF (CBOA) Performance
CBOA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −2.4% since Dec 31, 2025
- 1 year
- −3.5% total return
- Since first price
- +2.7% since 2025
CBOA trailing returns vs SPY, QQQ, AGG
| Period | CBOA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.3% | +0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.9% | +3.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.5% | +2.5% | +7.8% | +8.4% | −1.5% |
| YTD | −2.4% | −2.4% | +12.3% | +15.1% | −1.0% |
| 1 year | −3.5% | −5.6% | +14.4% | +15.9% | −1.1% |
| Since inceptionApr 7, 2025 | +2.7% | +0.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CBOA vs SPY
From Apr 7, 2025: CBOA grew to $10,273, SPY to $15,317.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CBOA returns by calendar year
2026 is year to date.
CBOA annual returns table
| Year | CBOA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −2.4% | −8.9% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CBOA risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +0.1% |
| Volatility (annualized) | 6.1% |
| Sharpe ratio | -0.57 |
| Sortino ratio | -0.65 |
| Best month | +2.7% |
| Worst month | −5.2% |
| Best 12 months | −2.2% |
| Worst 12 months | −6.6% |
| Positive months | 65% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CBOA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 7 | −6.6% | −3.8% | −2.2% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
CBOA performance overview
Calamos Bitcoin Structured Alt Protection ETF (CBOA) returned −3.5% over the past year, with distributions reinvested. Since its first recorded price on Apr 7, 2025 it has returned +2.7%. Over the same year S&P 500 (SPY) returned +14.4%.
Related: CBOA chart, CBOA dividends. See the CBOA overview for the latest quote and fund facts.
CBOA performance FAQ
What is the CBOA return over the past year?
CBOA returned −3.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.6%.
How much would $10,000 invested in CBOA be worth?
$10,000 invested in CBOA at its first recorded close on April 7, 2025 would be worth about $10,273 on October 23, 2026 with distributions reinvested.
How volatile is CBOA?
Over the past history CBOA had an annualized volatility of 6.1% and a Sharpe ratio of -0.57 (excess return over 1–3 month T-bills per unit of risk).