TLDR vs CBTA

Comparison between THE LADDERED T-BILL ETF (TLDR, ETF) and Calamos Bitcoin 80 Series Structured Alt Protection ETF April (CBTA, ETF).

TLDR vs CBTA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TLDR(ETF)	CBTA(ETF)
Net Assets	$4.50M	$4.60M
Expense Ratio	0.20%	0.69%
Max Drawdown	0.14%	39.39%
Sharpe Ratio	-0.61	-1.25
5Y Beta	-0.01	0.66

Net Assets

TLDR

$4.50M

Winner

CBTA

$4.60M

Expense Ratio

Winner

TLDR

0.20%

CBTA

0.69%

Max Drawdown

Winner

TLDR

0.14%

CBTA

39.39%

Sharpe Ratio

Winner

TLDR

-0.61

CBTA

-1.25

5Y Beta

Winner

TLDR

-0.01

CBTA

0.66

TLDR vs CBTA - Historical Returns

Returns include dividend reinvestment.

Period	TLDR	CBTA
1 month	+0.31%	-13.44%
3 months	+0.88%	-11.26%
6 months	N/A	-27.65%
1 year	N/A	-29.98%
Max(CAGR)	+3.47%	-15.86%

Winner

TLDR

+0.31%

CBTA

-13.44%

Winner

TLDR

+0.88%

CBTA

-11.26%

TLDR

N/A

CBTA

-27.65%

TLDR

N/A

CBTA

-29.98%

Max(CAGR)

Winner

TLDR

+3.47%

CBTA

-15.86%

TLDR vs CBTA - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

Year	TLDR	CBTA
2026	+1.27%	-28.31%
2025	N/A	+11.80%

TLDR vs CBTA Drawdown Comparison

The maximum drawdown for TLDR was -0.05%, occurring on Mar 31, 2026. Recovery took 2 trading sessions.

The maximum drawdown for CBTA was -38.87%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The current CBTA drawdown is -38.87%.

Rank	TLDR	CBTA
#1	-0.05% Mar 30, 2026 - Apr 1, 2026	-38.87% Oct 6, 2025 - Jun 5, 2026
#2	-0.04% Apr 9, 2026 - Apr 14, 2026	-4.25% Sep 18, 2025 - Oct 2, 2025
#3	-0.04% Feb 10, 2026 - Feb 18, 2026	-3.83% Aug 13, 2025 - Sep 12, 2025
#4	-0.04% Feb 18, 2026 - Feb 27, 2026	-3.29% May 27, 2025 - Jun 10, 2025
#5	-0.03% Apr 20, 2026 - Apr 23, 2026	-2.83% Jul 14, 2025 - Aug 12, 2025
#6	-0.02% Jan 23, 2026 - Feb 3, 2026	-1.96% Jun 16, 2025 - Jun 25, 2025
#7	-0.02% Apr 14, 2026 - Apr 16, 2026	-1.75% Jun 10, 2025 - Jun 16, 2025
#8	-0.02% Jun 3, 2026 - Jun 5, 2026	-1.32% Apr 9, 2025 - Apr 11, 2025
#9	-0.02% May 21, 2026 - May 27, 2026	-1.09% May 2, 2025 - May 7, 2025
#10	-0.02% Mar 13, 2026 - Mar 18, 2026	-0.86% Jun 30, 2025 - Jul 2, 2025
#11	-0.01% Mar 3, 2026 - Mar 6, 2026	-0.69% May 22, 2025 - May 27, 2025
#12	-0.01% Mar 20, 2026 - Mar 25, 2026	-0.62% Sep 12, 2025 - Sep 18, 2025
#13	-0.01% Apr 2, 2026 - Apr 9, 2026	-0.48% Apr 29, 2025 - May 1, 2025
#14	N/A	-0.45% Apr 25, 2025 - Apr 29, 2025
#15	N/A	-0.30% May 13, 2025 - May 16, 2025

Correlation

Correlation between TLDR and CBTA is -0.63 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.63

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