Calamos Bitcoin 80 Series Structured Alt… (CBTA) Performance
CBTA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −12.3% since Dec 31, 2025
- 1 year
- −22.6% total return
- Since first price
- −1.9% since 2025
CBTA trailing returns vs SPY, QQQ, AGG
| Period | CBTA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.0% | −1.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +15.6% | +15.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.0% | +6.0% | +7.8% | +8.4% | −1.5% |
| YTD | −12.3% | −12.3% | +12.3% | +15.1% | −1.0% |
| 1 year | −22.6% | −23.3% | +14.4% | +15.9% | −1.1% |
| Since inceptionApr 7, 2025 | −1.9% | −2.7% | — | — | — |
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: CBTA vs SPY
From Apr 7, 2025: CBTA grew to $9,809, SPY to $15,317.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CBTA returns by calendar year
2026 is year to date.
CBTA annual returns table
| Year | CBTA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −12.3% | −34.4% | +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.
CBTA largest drawdowns
Now 26.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 6, 2025 | −39.8% | Jun 30, 2026 | not yet | 9 months | 1.0 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CBTA risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −7.9% |
| Volatility (annualized) | 27.3% |
| Sharpe ratio | -0.30 |
| Sortino ratio | -0.38 |
| Best month | +13.2% |
| Worst month | −19.4% |
| Best 12 months | −17.3% |
| Worst 12 months | −34.8% |
| Positive months | 47% |
| 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.
CBTA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 7 | −34.8% | −24.5% | −17.3% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
CBTA performance overview
Calamos Bitcoin 80 Series Structured Alt… (CBTA) returned −22.6% over the past year, with distributions reinvested. Since its first recorded price on Apr 7, 2025 it has returned −1.9%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −39.8%, from Oct 6, 2025 to Jun 30, 2026; the fund has not yet regained that high. Volatility has been 27.3% a year.
Related: CBTA chart, CBTA dividends. See the CBTA overview for the latest quote and fund facts.
CBTA performance FAQ
What is the CBTA return over the past year?
CBTA returned −22.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 23.3%.
How much would $10,000 invested in CBTA be worth?
$10,000 invested in CBTA at its first recorded close on April 7, 2025 would be worth about $9,809 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of CBTA?
The largest peak-to-trough decline was −39.8% between October 6, 2025 and June 30, 2026. It has not yet recovered to that high; it is 26.7% below its peak.
How volatile is CBTA?
Over the past history CBTA had an annualized volatility of 27.3% and a Sharpe ratio of -0.30 (excess return over 1–3 month T-bills per unit of risk).