CBOY vs. NVDO
CBOY (Calamos Bitcoin Structured Alt Protection ETF - July) and NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) are both Defined Outcome funds. CBOY is passively managed, while NVDO is actively managed. Their 0.16 correlation means their historical movements had little consistent relationship. CBOY charges 0.69%/yr vs 0.77%/yr for NVDO.
Performance
CBOY vs. NVDO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CBOY achieves a -0.20% return, which is significantly lower than NVDO's 16.35% return.
CBOY
- 1D
- 0.16%
- 1M
- 0.10%
- 6M
- 0.49%
- YTD
- -0.20%
- 1Y
- -1.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.58%
NVDO
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 13.52%
- YTD
- 16.35%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $82.72K | $66.50K | $36.54K | |
| $0.00 | $0.00 | $24.01K |
CBOY vs. NVDO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CBOY Calamos Bitcoin Structured Alt Protection ETF - July | -0.20% | -1.95% |
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 16.35% | 10.05% |
Correlation
The correlation between CBOY and NVDO is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 13, 2025 | 0.16 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CBOY vs. NVDO — Risk / Return Rank
CBOY
NVDO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CBOY vs. NVDO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Bitcoin Structured Alt Protection ETF - July (CBOY) and Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CBOY | NVDO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.92 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | — | — |
| Martin ratioReturn relative to average drawdown | -0.52 | — | — |
Loading charts...
Drawdowns
CBOY vs. NVDO - Drawdown Comparison
The maximum CBOY drawdown since its inception was -3.99%, smaller than the maximum NVDO drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for CBOY and NVDO.
Loading charts...
Drawdown Indicators
| CBOY | NVDO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.99% | -16.25% | +12.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | — | — |
Current DrawdownCurrent decline from peak | -3.03% | -4.73% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -4.94% | +2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | — | — |
Volatility
CBOY vs. NVDO - Volatility Comparison
Loading charts...
Volatility by Period
| CBOY | NVDO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.33% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.15% | 30.22% | -27.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.22% | 30.22% | -27.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.22% | 30.22% | -27.00% |
CBOY vs. NVDO - Expense Ratio Comparison
CBOY has a 0.69% expense ratio, which is lower than NVDO's 0.77% expense ratio.
Dividends
CBOY vs. NVDO - Dividend Comparison
CBOY's dividend yield for the trailing twelve months is around 1.37%, less than NVDO's 14.32% yield.
| Position | TTM | 2025 |
|---|---|---|
CBOY Calamos Bitcoin Structured Alt Protection ETF - July | 1.37% | 1.37% |
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF | 14.32% | 16.66% |
Frequently Asked Questions
CBOY and NVDO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBOY is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBOY is cheaper with a 0.69% expense ratio, compared with 0.77% for NVDO.
NVDO has the higher dividend yield at 14.32%, compared with 1.37% for CBOY.
They also come from different issuers: Calamos and Leverage Shares. Their fees differ too: 0.69% for CBOY and 0.77% for NVDO.
Find the right allocation for CBOY and NVDO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer