MBND vs CBTO

Comparison between STATE STREET(R) NUVEEN MUNICIPAL BOND ETF (MBND, ETF) and Calamos Bitcoin 80 Series Structured Alt Protection ETF October (CBTO, ETF).

MBND vs CBTO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MBND(ETF)	CBTO(ETF)
Net Assets	$28M	$28M
Expense Ratio	0.40%	0.69%
Max Drawdown	15.51%	21.44%
Sharpe Ratio	0.40	-2.80
5Y Beta	0.01	0.35
5Y Dividends CAGR	51.85%	N/A

Net Assets

MBND

$28M

Winner

CBTO

$28M

Expense Ratio

Winner

MBND

0.40%

CBTO

0.69%

Max Drawdown

Winner

MBND

15.51%

CBTO

21.44%

Sharpe Ratio

Winner

MBND

0.40

CBTO

-2.80

5Y Beta

Winner

MBND

0.01

CBTO

0.35

5Y Dividends CAGR

MBND

51.85%

CBTO

N/A

MBND vs CBTO - Historical Returns

Returns include dividend reinvestment.

Period	MBND	CBTO
1 month	-0.62%	+0.28%
3 months	-0.13%	-1.86%
6 months	+0.09%	-8.71%
1 year	+4.79%	N/A
5 years(CAGR)	+0.35%	N/A
Max(CAGR)	+0.58%	-25.68%

MBND

-0.62%

Winner

CBTO

+0.28%

Winner

MBND

-0.13%

CBTO

-1.86%

Winner

MBND

+0.09%

CBTO

-8.71%

MBND

+4.79%

CBTO

N/A

5Y(CAGR)

MBND

+0.35%

CBTO

N/A

Max(CAGR)

Winner

MBND

+0.58%

CBTO

-25.68%

MBND vs CBTO - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	MBND	CBTO
2026	+0.49%	-9.00%
2025	+2.79%	-13.81%
2024	+2.86%	N/A
2023	+5.48%	N/A
2022	-8.57%	N/A
2021	+0.59%	N/A

MBND vs CBTO Drawdown Comparison

The maximum drawdown for MBND was -13.18%, occurring on Oct 25, 2022. Recovery took 1033 trading sessions.

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

The current MBND drawdown is -1.20%. The current CBTO drawdown is -20.97%.

Rank	MBND	CBTO
#1	-13.18% Aug 3, 2021 - Sep 15, 2025	-21.27% Oct 8, 2025 - Jun 24, 2026
#2	-2.44% Feb 27, 2026 - Jun 15, 2026	N/A
#3	-2.07% Feb 11, 2021 - Jun 4, 2021	N/A
#4	-1.20% Jun 15, 2026 - Jul 21, 2026	N/A
#5	-0.80% Sep 17, 2025 - Oct 15, 2025	N/A
#6	-0.57% Nov 12, 2025 - Jan 5, 2026	N/A
#7	-0.53% Jun 14, 2021 - Jul 8, 2021	N/A
#8	-0.33% Oct 27, 2025 - Nov 12, 2025	N/A
#9	-0.24% Jan 16, 2026 - Jan 30, 2026	N/A
#10	-0.13% Jul 8, 2021 - Jul 15, 2021	N/A
#11	-0.10% Jul 20, 2021 - Jul 28, 2021	N/A
#12	-0.10% Feb 19, 2026 - Feb 24, 2026	N/A
#13	-0.09% Feb 12, 2026 - Feb 17, 2026	N/A
#14	-0.08% Jul 28, 2021 - Aug 3, 2021	N/A
#15	-0.03% Feb 10, 2026 - Feb 12, 2026	N/A

Correlation

Correlation between MBND and CBTO is -0.58 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.58

-101