CBOY vs. SROI

Last updated Jun 4, 2026

CBOY (Calamos Bitcoin Structured Alt Protection ETF - July) and SROI (Calamos Antetokounmpo Global Sustainable Equities ETF) are both exchange-traded funds - CBOY is a Defined Outcome fund tracking the CBOE Bitcoin US ETF Index, while SROI is a Global Equities fund actively managed by Calamos. CBOY is passively managed, while SROI is actively managed. At a 0.34 correlation, their price movements are largely independent. CBOY charges 0.69%/yr vs 0.95%/yr for SROI.

Performance

CBOY vs. SROI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Bitcoin Structured Alt Protection ETF - July (CBOY) and Calamos Antetokounmpo Global Sustainable Equities ETF (SROI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBOY achieves a -0.57% return, which is significantly lower than SROI's 11.06% return.

CBOY

• 1D: -0.02%
• 1M: 0.10%
• YTD: -0.57%
• 6M: -1.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SROI

• 1D: -0.71%
• 1M: 3.89%
• YTD: 11.06%
• 6M: 11.15%
• 1Y: 20.66%
• 3Y*: 14.52%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CBOY vs. SROI - Yearly Performance Comparison

	2026 (YTD)	2025
CBOY Calamos Bitcoin Structured Alt Protection ETF - July	-0.57%	-0.40%
SROI Calamos Antetokounmpo Global Sustainable Equities ETF	11.06%	5.79%

Correlation

The correlation between CBOY and SROI is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.34

Return for Risk

CBOY vs. SROI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SROI

SROI Risk / Return Rank: 46
SROI Sharpe Ratio Rank: 45
SROI Sortino Ratio Rank: 46
SROI Omega Ratio Rank: 44
SROI Calmar Ratio Rank: 42
SROI Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBOY vs. SROI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Bitcoin Structured Alt Protection ETF - July (CBOY) and Calamos Antetokounmpo Global Sustainable Equities ETF (SROI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CBOY	SROI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.32	1.01	-1.34

Drawdowns

CBOY vs. SROI - Drawdown Comparison

The maximum CBOY drawdown since its inception was -3.99%, smaller than the maximum SROI drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for CBOY and SROI.

Drawdown Indicators

	CBOY	SROI	Difference
Max Drawdown Largest peak-to-trough decline	-3.99%	-15.38%	+11.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.38%	—
Current Drawdown Current decline from peak	-3.38%	-0.71%	-2.67%
Average Drawdown Average peak-to-trough decline	-2.18%	-2.42%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.36%	—

Volatility

Volatility by Period

	CBOY	SROI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.32%	13.38%	-10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.32%	13.87%	-10.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.32%	13.87%	-10.55%

CBOY vs. SROI - Expense Ratio Comparison

CBOY has a 0.69% expense ratio, which is lower than SROI's 0.95% expense ratio.

Dividends

CBOY vs. SROI - Dividend Comparison

CBOY's dividend yield for the trailing twelve months is around 1.38%, more than SROI's 0.54% yield.

Position	TTM	2025	2024	2023
CBOY Calamos Bitcoin Structured Alt Protection ETF - July	1.38%	1.37%	0.00%	0.00%
SROI Calamos Antetokounmpo Global Sustainable Equities ETF	0.54%	0.60%	0.68%	0.94%

Frequently Asked Questions

Can I hold both CBOY and SROI in my portfolio?

CBOY and SROI have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBOY or SROI?

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.

Which ETF is cheaper, CBOY or SROI?

CBOY is cheaper with a 0.69% expense ratio, compared with 0.95% for SROI.

Which ETF pays a higher dividend yield, CBOY or SROI?

CBOY has the higher dividend yield at 1.38%, compared with 0.54% for SROI.

What is the main difference between CBOY and SROI?

CBOY is categorized as Defined Outcome, while SROI is Global Equities. Their fees differ too: 0.69% for CBOY and 0.95% for SROI.