MSOO vs. CBOA
MSOO (Leverage Shares 2x Capped Accelerated MSTR Monthly ETF) and CBOA (Calamos Bitcoin Structured Alt Protection ETF - April) are both Defined Outcome funds. MSOO is actively managed, while CBOA is passively managed. A 0.79 correlation means they provide meaningful diversification when combined. MSOO charges 0.78%/yr vs 0.69%/yr for CBOA.
Performance
MSOO vs. CBOA - Performance Comparison
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Returns By Period
In the year-to-date period, MSOO achieves a -26.25% return, which is significantly lower than CBOA's -6.53% return.
MSOO
- 1D
- 0.00%
- 1M
- -23.48%
- YTD
- -26.25%
- 6M
- -29.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBOA
- 1D
- -0.41%
- 1M
- -1.85%
- YTD
- -6.53%
- 6M
- -6.48%
- 1Y
- -5.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSOO vs. CBOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSOO Leverage Shares 2x Capped Accelerated MSTR Monthly ETF | -26.25% | -61.39% |
CBOA Calamos Bitcoin Structured Alt Protection ETF - April | -6.53% | -0.86% |
Correlation
The correlation between MSOO and CBOA is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 13, 2025 | 0.79 |
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Return for Risk
MSOO vs. CBOA — Risk / Return Rank
MSOO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CBOA
MSOO vs. CBOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Capped Accelerated MSTR Monthly ETF (MSOO) and Calamos Bitcoin Structured Alt Protection ETF - April (CBOA). 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.
| MSOO | CBOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.83 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.62 | — |
| Martin ratioReturn relative to average drawdown | — | -1.20 | — |
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Drawdowns
MSOO vs. CBOA - Drawdown Comparison
The maximum MSOO drawdown since its inception was -73.17%, which is greater than CBOA's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for MSOO and CBOA.
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Drawdown Indicators
| MSOO | CBOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.17% | -8.65% | -64.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.65% | — |
Current DrawdownCurrent decline from peak | -71.52% | -8.36% | -63.16% |
Average DrawdownAverage peak-to-trough decline | -49.41% | -2.62% | -46.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.46% | — |
Volatility
MSOO vs. CBOA - Volatility Comparison
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Volatility by Period
| MSOO | CBOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.37% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.55% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 69.10% | 5.45% | +63.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.10% | 5.13% | +63.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.10% | 5.13% | +63.97% |
MSOO vs. CBOA - Expense Ratio Comparison
MSOO has a 0.78% expense ratio, which is higher than CBOA's 0.69% expense ratio.
Dividends
MSOO vs. CBOA - Dividend Comparison
MSOO's dividend yield for the trailing twelve months is around 2.20%, less than CBOA's 2.40% yield.
| Position | TTM | 2025 |
|---|---|---|
CBOA Calamos Bitcoin Structured Alt Protection ETF - April | 2.40% | 2.24% |
MSOO Leverage Shares 2x Capped Accelerated MSTR Monthly ETF | 2.20% | 1.63% |
Frequently Asked Questions
MSOO and CBOA have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBOA is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBOA is cheaper with a 0.69% expense ratio, compared with 0.78% for MSOO.
CBOA has the higher dividend yield at 2.40%, compared with 2.20% for MSOO.
They also come from different issuers: Leverage Shares and Calamos. Their fees differ too: 0.78% for MSOO and 0.69% for CBOA.
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