CBTL vs MSTP
Comparison between Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF (CBTL, ETF) and GRANITESHARES 2X LONG MSTR DAILY ETF (MSTP, ETF).
CBTL vs MSTP - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
CBTL
$5.20M
MSTP
$5.20M
Expense Ratio
CBTL
0.79%
MSTP
N/A
Max Drawdown
Winner
CBTL
30.37%
MSTP
98.40%
Sharpe Ratio
CBTL
-2.01
Winner
MSTP
-1.71
5Y Beta
Winner
CBTL
0.75
MSTP
5.81
CBTL vs MSTP - Historical Returns
Returns include dividend reinvestment.
1M
Winner
CBTL
+1.19%
MSTP
-19.49%
3M
Winner
CBTL
-3.29%
MSTP
-68.77%
6M
Winner
CBTL
-15.34%
MSTP
-75.61%
1Y
CBTL
N/A
MSTP
-97.32%
Max(CAGR)
Winner
CBTL
-32.96%
MSTP
-95.72%
CBTL vs MSTP - Annual Returns (2025 - 2026)
Returns include dividend reinvestment.
| Year | CBTL | MSTP |
|---|---|---|
| 2026 | -15.33% | -74.46% |
| 2025 | -14.41% | -88.99% |
CBTL vs MSTP Drawdown Comparison
The maximum drawdown for CBTL was -29.69%, occurring on Jun 30, 2026. This drawdown has not yet recovered.
The maximum drawdown for MSTP was -98.40%, occurring on Jun 26, 2026. This drawdown has not yet recovered.
The current CBTL drawdown is -27.17%. The current MSTP drawdown is -97.67%.
| Rank | CBTL | MSTP |
|---|---|---|
| #1 | -29.69% Oct 27, 2025 - Jun 30, 2026 | -98.40% Jul 16, 2025 - Jun 26, 2026 |
| #2 | -3.27% Oct 14, 2025 - Oct 27, 2025 | -15.10% Jun 30, 2025 - Jul 9, 2025 |
| #3 | N/A | -12.49% Jun 10, 2025 - Jun 30, 2025 |
| #4 | N/A | -4.16% Jul 14, 2025 - Jul 16, 2025 |
Correlation
Correlation between CBTL and MSTP is 0.93 which considered as a very strong positive correlation - the stocks move almost identically together.
0.93
-101
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