NOVM vs CBTO

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

NOVM vs CBTO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

Winner

NOVM

$28M

CBTO

$28M

Expense Ratio

NOVM

0.85%

Winner

CBTO

0.69%

Max Drawdown

Winner

NOVM

3.26%

CBTO

21.44%

Sharpe Ratio

Winner

NOVM

1.48

CBTO

-2.80

5Y Beta

Winner

NOVM

0.15

CBTO

0.35

NOVM vs CBTO - Historical Returns

Returns include dividend reinvestment.

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

Winner

NOVM

+0.43%

CBTO

+0.28%

Winner

NOVM

+1.70%

CBTO

-1.86%

Winner

NOVM

+2.83%

CBTO

-8.71%

NOVM

+7.07%

CBTO

N/A

Max(CAGR)

Winner

NOVM

+6.47%

CBTO

-25.68%

NOVM vs CBTO - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

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

NOVM vs CBTO Drawdown Comparison

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

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

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

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