Calamos Bitcoin 90 Series Structured Alt… (CBXY) Performance
CBXY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.8% since Dec 31, 2025
- 1 year
- −3.8% total return
- Since first price
- −2.6% since 2025
CBXY trailing returns vs SPY, QQQ, AGG
| Period | CBXY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.1% | +0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +8.4% | +8.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.7% | +8.7% | +7.8% | +8.4% | −1.5% |
| YTD | +3.8% | +3.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −3.8% | −5.1% | +14.4% | +15.9% | −1.1% |
| Since inceptionJul 8, 2025 | −2.6% | −3.9% | — | — | — |
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: CBXY vs SPY
From Jul 8, 2025: CBXY grew to $9,738, SPY to $12,417.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CBXY returns by calendar year
2026 is year to date.
CBXY annual returns table
| Year | CBXY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.8% | −9.5% | +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.
CBXY largest drawdowns
Now 7.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 6, 2025 | −16.4% | Jul 8, 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.
CBXY risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −4.4% |
| Volatility (annualized) | 10.1% |
| Sharpe ratio | -0.76 |
| Sortino ratio | -1.00 |
| Best month | +6.7% |
| Worst month | −5.8% |
| Best 12 months | −5.0% |
| Worst 12 months | −13.0% |
| Positive months | 43% |
| 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.
CBXY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 4 | −13.0% | −5.2% | −3.8% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
CBXY performance overview
Calamos Bitcoin 90 Series Structured Alt… (CBXY) returned −3.8% over the past year, with distributions reinvested. Since its first recorded price on Jul 8, 2025 it has returned −2.6%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −16.4%, from Oct 6, 2025 to Jul 8, 2026; the fund has not yet regained that high. Volatility has been 10.1% a year.
Related: CBXY chart, CBXY dividends. See the CBXY overview for the latest quote and fund facts.
CBXY performance FAQ
What is the CBXY return over the past year?
CBXY returned −3.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.1%.
How much would $10,000 invested in CBXY be worth?
$10,000 invested in CBXY at its first recorded close on July 8, 2025 would be worth about $9,738 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of CBXY?
The largest peak-to-trough decline was −16.4% between October 6, 2025 and July 8, 2026. It has not yet recovered to that high; it is 7.7% below its peak.
How volatile is CBXY?
Over the past history CBXY had an annualized volatility of 10.1% and a Sharpe ratio of -0.76 (excess return over 1–3 month T-bills per unit of risk).