CBOA vs QQQ
Calamos Bitcoin Structured Alt Protection ETF - April vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | CBOA | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.18% | |
| AUM | $5M | $496.3B | |
| Dividend Yield | 2.37% | 0.44% | |
| Holdings | 7 | 108 | |
| YTD Return | -4.93% | +16.23% | |
| 1Y Return | -5.15% | +26.23% | |
| 3Y Return (annualized) | - | +25.75% | |
| 5Y Return (annualized) | - | +14.78% | |
| Volatility (annualized) | 6.0% | 30.6% | |
| Max Drawdown | -8.9% | -83.0% | |
| Fund Family | Calamos Investments | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 7, 2025 | Mar 10, 1999 |
CBOA vs QQQ Performance
Calamos Bitcoin Structured Alt Protection ETF - April (CBOA) is a ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CBOA returned -5.15% while QQQ returned +26.23%. Year to date, CBOA is down 4.93% versus a gain of 16.23% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 6.0% for CBOA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -8.9% for CBOA and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CBOA charges 0.69% per year while QQQ charges 0.18%. On a $10,000 position that is $69 vs $18 annually, a gap of $51 per year that compounds over a long holding period. On income, CBOA currently yields 2.37% against 0.44% for QQQ.
Frequently Asked Questions
Which is cheaper, CBOA or QQQ?
CBOA has an expense ratio of 0.69% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, CBOA or QQQ?
Over the past year CBOA returned -5.15% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), CBOA annualized +0.39% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, CBOA or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 6.0% for CBOA. Worst drawdown: CBOA -8.9% vs QQQ -83.0%.
Should I hold both CBOA and QQQ?
CBOA and QQQ have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CBOA or QQQ?
CBOA yields 2.37% while QQQ yields 0.44%, so CBOA currently pays the higher dividend yield.
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