CBTO vs NOVM

Comparison between Calamos Bitcoin 80 Series Structured Alt Protection ETF October (CBTO, ETF) and FT VEST U.S. EQUITY MAX BUFFER ETF - NOVEMBER (NOVM, ETF).

CBTO vs NOVM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBTO(ETF)	NOVM(ETF)
Net Assets	$28M	$28M
Expense Ratio	0.69%	0.85%
Max Drawdown	21.44%	3.26%
Sharpe Ratio	-2.80	1.48
5Y Beta	0.35	0.15

Net Assets

CBTO

$28M

Winner

NOVM

$28M

Expense Ratio

Winner

CBTO

0.69%

NOVM

0.85%

Max Drawdown

CBTO

21.44%

Winner

NOVM

3.26%

Sharpe Ratio

CBTO

-2.80

Winner

NOVM

1.48

5Y Beta

CBTO

0.35

Winner

NOVM

0.15

CBTO vs NOVM - Historical Returns

Returns include dividend reinvestment.

Period	CBTO	NOVM
1 month	+0.28%	+0.43%
3 months	-1.86%	+1.70%
6 months	-8.71%	+2.83%
1 year	N/A	+7.07%
Max(CAGR)	-25.68%	+6.47%

CBTO

+0.28%

Winner

NOVM

+0.43%

CBTO

-1.86%

Winner

NOVM

+1.70%

CBTO

-8.71%

Winner

NOVM

+2.83%

CBTO

N/A

NOVM

+7.07%

Max(CAGR)

CBTO

-25.68%

Winner

NOVM

+6.47%

CBTO vs NOVM - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	CBTO	NOVM
2026	-9.00%	+2.98%
2025	-13.81%	+7.49%
2024	N/A	+0.23%

CBTO vs NOVM Drawdown Comparison

The maximum drawdown for CBTO was -21.27%, occurring on Jun 24, 2026. This drawdown has not yet recovered.

The maximum drawdown for NOVM was -3.26%, occurring on Apr 4, 2025. Recovery took 62 trading sessions.

The current CBTO drawdown is -20.97%. The current NOVM drawdown is -0.01%.

Rank	CBTO	NOVM
#1	-21.27% Oct 8, 2025 - Jun 24, 2026	-3.26% Feb 19, 2025 - May 19, 2025
#2	N/A	-1.48% Feb 25, 2026 - Apr 9, 2026
#3	N/A	-0.81% Dec 16, 2024 - Jan 17, 2025
#4	N/A	-0.62% May 19, 2025 - Jun 3, 2025
#5	N/A	-0.45% Jun 2, 2026 - Jun 15, 2026
#6	N/A	-0.44% Jul 28, 2025 - Aug 8, 2025
#7	N/A	-0.38% Feb 2, 2026 - Feb 9, 2026
#8	N/A	-0.37% Jan 12, 2026 - Jan 26, 2026
#9	N/A	-0.35% Oct 9, 2025 - Oct 17, 2025
#10	N/A	-0.34% Dec 11, 2025 - Dec 19, 2025
#11	N/A	-0.29% Feb 9, 2026 - Feb 25, 2026
#12	N/A	-0.28% Jan 23, 2025 - Feb 6, 2025
#13	N/A	-0.26% Jun 12, 2025 - Jun 16, 2025
#14	N/A	-0.25% Jun 15, 2026 - Jul 2, 2026
#15	N/A	-0.24% Aug 18, 2025 - Aug 22, 2025