Calamos Bitcoin 80 Series Structured Alt… (CBTO) Performance
CBTO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −10.7% since Dec 31, 2025
- 1 year
- −19.7% total return
- Since first price
- −23.1% since 2025
CBTO trailing returns vs SPY, QQQ, AGG
| Period | CBTO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.2% | −3.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.8% | −2.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −5.2% | −5.2% | +7.8% | +8.4% | −1.5% |
| YTD | −10.7% | −10.7% | +12.3% | +15.1% | −1.0% |
| 1 year | −19.7% | −19.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionOct 7, 2025 | −23.1% | −23.2% | — | — | — |
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: CBTO vs SPY
From Oct 7, 2025: CBTO grew to $7,694, SPY to $11,480.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CBTO returns by calendar year
2026 is year to date.
CBTO annual returns table
| Year | CBTO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −10.7% | −14.6% | +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.
CBTO largest drawdowns
Now 23.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 8, 2025 | −23.2% | Oct 23, 2026 | not yet | 1.0 years | 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.
CBTO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 1 | −19.3% | −19.3% | −19.3% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
CBTO performance overview
Calamos Bitcoin 80 Series Structured Alt… (CBTO) returned −19.7% over the past year, with distributions reinvested. Since its first recorded price on Oct 7, 2025 it has returned −23.1%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −23.2%, from Oct 8, 2025 to Oct 23, 2026; the fund has not yet regained that high.
Related: CBTO chart, CBTO dividends. See the CBTO overview for the latest quote and fund facts.
CBTO performance FAQ
What is the CBTO return over the past year?
CBTO returned −19.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 19.9%.
How much would $10,000 invested in CBTO be worth?
$10,000 invested in CBTO at its first recorded close on October 7, 2025 would be worth about $7,694 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of CBTO?
The largest peak-to-trough decline was −23.2% between October 8, 2025 and October 23, 2026. It has not yet recovered to that high; it is 23.2% below its peak.