CBOA vs VOO
Calamos Bitcoin Structured Alt Protection ETF - April vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | CBOA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $5M | $997.4B | |
| Dividend Yield | 2.37% | 1.08% | |
| Holdings | 7 | 509 | |
| YTD Return | -5.55% | +13.20% | |
| 1Y Return | -5.63% | +21.62% | |
| 3Y Return (annualized) | - | +22.16% | |
| 5Y Return (annualized) | - | +13.42% | |
| Volatility (annualized) | 5.8% | 14.1% | |
| Max Drawdown | -8.9% | -34.3% | |
| Fund Family | Calamos Investments | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 7, 2025 | Sep 7, 2010 |
CBOA vs VOO Performance
Calamos Bitcoin Structured Alt Protection ETF - April (CBOA) is a ETF from Calamos Investments and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CBOA returned -5.63% while VOO returned +21.62%. Year to date, CBOA is down 5.55% versus a gain of 13.20% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 5.8% 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 -34.3% for VOO. 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 0.50. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CBOA charges 0.69% per year while VOO charges 0.03%. On a $10,000 position that is $69 vs $3 annually, a gap of $66 per year that compounds over a long holding period. On income, CBOA currently yields 2.37% against 1.08% for VOO.
Frequently Asked Questions
Which is cheaper, CBOA or VOO?
CBOA has an expense ratio of 0.69% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CBOA or VOO?
Over the past year CBOA returned -5.63% vs +21.62% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (1 years), CBOA annualized -0.09% vs +13.51% for VOO. Past performance does not guarantee future results.
Which is riskier, CBOA or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 5.8% for CBOA. Worst drawdown: CBOA -8.9% vs VOO -34.3%.
Should I hold both CBOA and VOO?
CBOA and VOO have a monthly-return correlation of 0.50, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CBOA or VOO?
CBOA yields 2.37% while VOO yields 1.08%, so CBOA currently pays the higher dividend yield.
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