CBTA vs SDP

Comparison between Calamos Bitcoin 80 Series Structured Alt Protection ETF April (CBTA, ETF) and ProShares UltraShort Utilities -2x Shares (SDP, ETF).

CBTA vs SDP - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBTA(ETF)	SDP(ETF)
Net Assets	$4.60M	$4.60M
Expense Ratio	0.69%	N/A
Max Drawdown	39.39%	99.83%
Sharpe Ratio	-1.25	-0.65
5Y Beta	0.66	-0.65
5Y Dividends CAGR	N/A	62.06%

Net Assets

CBTA

$4.60M

SDP

$4.60M

Expense Ratio

CBTA

0.69%

SDP

N/A

Max Drawdown

Winner

CBTA

39.39%

SDP

99.83%

Sharpe Ratio

CBTA

-1.25

Winner

SDP

-0.65

5Y Beta

CBTA

0.66

Winner

SDP

-0.65

5Y Dividends CAGR

CBTA

N/A

SDP

62.06%

CBTA vs SDP - Historical Returns

Returns include dividend reinvestment.

Period	CBTA	SDP
1 month	-13.44%	+9.33%
3 months	-11.26%	+10.38%
6 months	-27.65%	-6.87%
1 year	-29.98%	-18.02%
5 years(CAGR)	N/A	-16.82%
10 years(CAGR)	N/A	-20.98%
Max(CAGR)	-15.86%	-21.43%

CBTA

-13.44%

Winner

SDP

+9.33%

CBTA

-11.26%

Winner

SDP

+10.38%

CBTA

-27.65%

Winner

SDP

-6.87%

CBTA

-29.98%

Winner

SDP

-18.02%

5Y(CAGR)

CBTA

N/A

SDP

-16.82%

10Y(CAGR)

CBTA

N/A

SDP

-20.98%

Max(CAGR)

Winner

CBTA

-15.86%

SDP

-21.43%

CBTA vs SDP - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	CBTA	SDP
2026	-28.31%	-6.48%
2025	+11.80%	-21.83%
2024	N/A	-28.21%
2023	N/A	+18.87%
2022	N/A	-13.99%
2021	N/A	-36.11%
2020	N/A	-37.88%
2019	N/A	-37.80%
2018	N/A	-11.24%
2017	N/A	-22.37%
2016	N/A	-33.46%
2015	N/A	+0.90%
2014	N/A	-43.91%
2013	N/A	-26.50%
2012	N/A	-8.52%
2011	N/A	-36.00%
2010	N/A	-19.85%
2009	N/A	-30.16%
2008	N/A	+34.44%
2007	N/A	-20.03%

CBTA vs SDP Drawdown Comparison

The maximum drawdown for CBTA was -38.87%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The maximum drawdown for SDP was -99.57%, occurring on Feb 27, 2026. This drawdown has not yet recovered.

The current CBTA drawdown is -38.87%. The current SDP drawdown is -99.51%.

Rank	CBTA	SDP
#1	-38.87% Oct 6, 2025 - Jun 5, 2026	-99.57% Oct 10, 2008 - Feb 27, 2026
#2	-4.25% Sep 18, 2025 - Oct 2, 2025	-25.17% Aug 15, 2007 - Aug 4, 2008
#3	-3.83% Aug 13, 2025 - Sep 12, 2025	-19.77% Mar 14, 2007 - Aug 3, 2007
#4	-3.29% May 27, 2025 - Jun 10, 2025	-12.74% Sep 17, 2008 - Oct 2, 2008
#5	-2.83% Jul 14, 2025 - Aug 12, 2025	-10.55% Aug 3, 2007 - Aug 15, 2007
#6	-1.96% Jun 16, 2025 - Jun 25, 2025	-10.08% Aug 4, 2008 - Sep 4, 2008
#7	-1.75% Jun 10, 2025 - Jun 16, 2025	-8.29% Sep 9, 2008 - Sep 16, 2008
#8	-1.32% Apr 9, 2025 - Apr 11, 2025	-4.25% Sep 5, 2008 - Sep 9, 2008
#9	-1.09% May 2, 2025 - May 7, 2025	N/A
#10	-0.86% Jun 30, 2025 - Jul 2, 2025	N/A
#11	-0.69% May 22, 2025 - May 27, 2025	N/A
#12	-0.62% Sep 12, 2025 - Sep 18, 2025	N/A
#13	-0.48% Apr 29, 2025 - May 1, 2025	N/A
#14	-0.45% Apr 25, 2025 - Apr 29, 2025	N/A
#15	-0.30% May 13, 2025 - May 16, 2025	N/A

Correlation

Correlation between CBTA and SDP is 0.59 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.59

-101

Dividend Comparison (2007 - 2026)

CBTA vs SDP dividend yield comparison.

Year	CBTA	SDP
2026	0.00%	0.26%
2025	0.89%	3.99%
2024	0.00%	4.66%
2023	0.00%	3.04%
2022	0.00%	0.56%
2020	0.00%	0.13%
2019	0.00%	0.87%
2018	0.00%	0.05%
2009	0.00%	59.64%
2008	0.00%	66.69%
2007	0.00%	3.16%