- Issuer
- Calamos
- Inception Date
- Oct 7, 2025
- Region
- Global (Global)
- Category
- Defined Outcome, Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- US
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
Share Price Chart
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Performance
CBXO Performance Chart
Calamos Bitcoin 90 Series Structured Alt Protection ETF - October (CBXO) is down 3.7% since the beginning of the year. CBXO is currently trading at $22 per share.
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Returns By Period
Calamos Bitcoin 90 Series Structured Alt Protection ETF - October
- 1D
- -0.04%
- 1M
- -1.12%
- YTD
- -3.71%
- 6M
- -4.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.41%
- 1M
- 4.48%
- YTD
- 10.79%
- 6M
- 10.60%
- 1Y
- 27.02%
- 3Y*
- 21.07%
- 5Y*
- 12.39%
- 10Y*
- 13.65%
CBXO Monthly Returns History
Based on dividend-adjusted daily data since Oct 7, 2025, CBXO's average daily return is -0.07%, while the average monthly return is -1.33%.
Historically, 22% of months were positive and 78% were negative. The best month was Mar 2026 with a return of +0.2%, while the worst month was Nov 2025 at -4.5%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CBXO closed higher 39% of trading days. The best single day was Jan 5, 2026 with a return of +1.3%, while the worst single day was Jan 20, 2026 at -1.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.70% | -2.83% | 0.15% | 0.09% | -0.21% | -0.25% | -3.71% | ||||||
| 2025 | -2.84% | -4.45% | -0.93% | -8.02% |
Benchmark Metrics
Calamos Bitcoin 90 Series Structured Alt Protection ETF - October has an annualized alpha of -20.04%, beta of 0.21, and R2 of 0.15 versus S&P 500 Index. Calculated based on daily prices since October 08, 2025.
- This ETF participated in 62.32% of S&P 500 Index downside but only -35.27% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.21 may look defensive, but with R2 of 0.15 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.15 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -20.04%
- Beta
- 0.21
- R²
- 0.15
- Upside Capture
- -35.27%
- Downside Capture
- 62.32%
Expense Ratio
CBXO has an expense ratio of 0.69%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Calamos Bitcoin 90 Series Structured Alt Protection ETF - October (CBXO) and compare them to S&P 500 Index.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Dividends
Dividend History
Calamos Bitcoin 90 Series Structured Alt Protection ETF - October provided a 0.53% dividend yield over the last twelve months, with an annual payout of $0.12 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.12 | $0.12 |
Dividend yield | 0.53% | 0.51% |
Monthly Dividends
The table displays the monthly dividend distributions for Calamos Bitcoin 90 Series Structured Alt Protection ETF - October. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.12 | $0.12 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Calamos Bitcoin 90 Series Structured Alt Protection ETF - October. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Calamos Bitcoin 90 Series Structured Alt Protection ETF - October was 11.43%, occurring on Jun 4, 2026. The portfolio has not yet recovered.
The current Calamos Bitcoin 90 Series Structured Alt Protection ETF - October drawdown is 11.43%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -11.43%Jun 2026 | 7mo 29d | — | 8mo 1dOct 2025 - now |
Drawdown Indicators
| CBXO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.43% | -56.78% | +45.35% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -11.43% | -0.33% | -11.10% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -10.72% | +2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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