CBTL vs. QB
CBTL (Calamos Laddered Bitcoin Structured Alt Protection ETF) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds. CBTL is actively managed, while QB is passively managed. At a 0.46 correlation, their price movements are largely independent. CBTL charges 0.79%/yr vs 0.58%/yr for QB.
Performance
CBTL vs. QB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CBTL achieves a -15.74% return, which is significantly lower than QB's 9.56% return.
CBTL
- 1D
- -0.84%
- 1M
- -5.05%
- YTD
- -15.74%
- 6M
- -16.01%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QB
- 1D
- -1.22%
- 1M
- -0.18%
- YTD
- 9.56%
- 6M
- 9.37%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBTL vs. QB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CBTL Calamos Laddered Bitcoin Structured Alt Protection ETF | -15.74% | -14.09% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 9.56% | 3.02% |
Correlation
The correlation between CBTL and QB is 0.46, 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 Oct 14, 2025 | 0.46 |
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
CBTL vs. QB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Laddered Bitcoin Structured Alt Protection ETF (CBTL) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Drawdowns
CBTL vs. QB - Drawdown Comparison
The maximum CBTL drawdown since its inception was -28.94%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for CBTL and QB.
Loading charts...
Drawdown Indicators
| CBTL | QB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.94% | -3.47% | -25.47% |
Current DrawdownCurrent decline from peak | -28.64% | -1.51% | -27.13% |
Average DrawdownAverage peak-to-trough decline | -18.91% | -0.41% | -18.50% |
Volatility
CBTL vs. QB - Volatility Comparison
Loading charts...
Volatility by Period
| CBTL | QB | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 21.69% | 6.85% | +14.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.69% | 6.85% | +14.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 6.85% | +14.84% |
CBTL vs. QB - Expense Ratio Comparison
CBTL has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.
Dividends
CBTL vs. QB - Dividend Comparison
CBTL's dividend yield for the trailing twelve months is around 1.16%, more than QB's 0.63% yield.
| Position | TTM | 2025 |
|---|---|---|
CBTL Calamos Laddered Bitcoin Structured Alt Protection ETF | 1.16% | 0.98% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 0.63% | 0.48% |
Frequently Asked Questions
CBTL and QB have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QB is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QB is cheaper with a 0.58% expense ratio, compared with 0.79% for CBTL.
CBTL has the higher dividend yield at 1.16%, compared with 0.63% for QB.
They also come from different issuers: Calamos and ProShares. Their fees differ too: 0.79% for CBTL and 0.58% for QB.
Find the right allocation for CBTL and QB
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