CBTA vs SMN

Comparison between Calamos Bitcoin 80 Series Structured Alt Protection ETF April (CBTA, ETF) and ProShares UltraShort Materials (SMN, ETF).

CBTA vs SMN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBTA(ETF)	SMN(ETF)
Net Assets	$4M	$4.10M
Expense Ratio	0.69%	N/A
Max Drawdown	40.34%	99.96%
Sharpe Ratio	-1.40	-0.59
5Y Beta	0.66	-1.50

Net Assets

CBTA

$4M

Winner

SMN

$4.10M

Expense Ratio

CBTA

0.69%

SMN

N/A

Max Drawdown

Winner

CBTA

40.34%

SMN

99.96%

Sharpe Ratio

CBTA

-1.40

Winner

SMN

-0.59

5Y Beta

CBTA

0.66

Winner

SMN

-1.50

CBTA vs SMN - Historical Returns

Returns include dividend reinvestment.

Period	CBTA	SMN
1 month	+3.92%	-0.17%
3 months	-8.45%	+1.66%
6 months	-25.72%	-6.95%
1 year	-34.10%	-22.49%
5 years(CAGR)	N/A	-16.61%
10 years(CAGR)	N/A	-24.51%
Max(CAGR)	-11.97%	-27.72%

Winner

CBTA

+3.92%

SMN

-0.17%

CBTA

-8.45%

Winner

SMN

+1.66%

CBTA

-25.72%

Winner

SMN

-6.95%

CBTA

-34.10%

Winner

SMN

-22.49%

5Y(CAGR)

CBTA

N/A

SMN

-16.61%

10Y(CAGR)

CBTA

N/A

SMN

-24.51%

Max(CAGR)

Winner

CBTA

-11.97%

SMN

-27.72%

CBTA vs SMN - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	CBTA	SMN
2026	-25.73%	-20.93%
2025	+11.80%	-19.37%
2024	N/A	+6.89%
2023	N/A	-20.86%
2022	N/A	-4.63%
2021	N/A	-46.34%
2020	N/A	-56.52%
2019	N/A	-32.08%
2018	N/A	+36.15%
2017	N/A	-38.23%
2016	N/A	-39.97%
2015	N/A	+16.14%
2014	N/A	-14.64%
2013	N/A	-32.88%
2012	N/A	-22.43%
2011	N/A	-1.22%
2010	N/A	-51.23%
2009	N/A	-75.87%
2008	N/A	+54.91%
2007	N/A	-38.34%

CBTA vs SMN Drawdown Comparison

The maximum drawdown for CBTA was -39.82%, occurring on Jun 30, 2026. This drawdown has not yet recovered.

The maximum drawdown for SMN was -99.92%, occurring on Feb 11, 2026. This drawdown has not yet recovered.

The current CBTA drawdown is -36.66%. The current SMN drawdown is -99.91%.

Rank	CBTA	SMN
#1	-39.82% Oct 6, 2025 - Jun 30, 2026	-99.92% Nov 20, 2008 - Feb 11, 2026
#2	-4.25% Sep 18, 2025 - Oct 2, 2025	-61.90% Mar 5, 2007 - Oct 6, 2008
#3	-3.83% Aug 13, 2025 - Sep 12, 2025	-42.86% Oct 27, 2008 - Nov 20, 2008
#4	-3.29% May 27, 2025 - Jun 10, 2025	-27.84% Oct 10, 2008 - Oct 24, 2008
#5	-2.83% Jul 14, 2025 - Aug 12, 2025	-9.85% Feb 9, 2007 - Mar 2, 2007
#6	-1.96% Jun 16, 2025 - Jun 25, 2025	-1.24% Oct 7, 2008 - Oct 9, 2008
#7	-1.75% Jun 10, 2025 - Jun 16, 2025	-1.12% Feb 2, 2007 - Feb 9, 2007
#8	-1.32% Apr 9, 2025 - Apr 11, 2025	N/A
#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