CBOY vs QQQ
Calamos Bitcoin Structured Alt Protection ETF - July 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 103 holdings.
Side-by-Side Comparison
| Metric | CBOY | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.18% | |
| AUM | $5M | $455.8B | |
| Dividend Yield | 1.37% | 0.41% | |
| Holdings | 5 | 108 | |
| YTD Return | -0.43% | +17.46% | |
| 1Y Return | -2.01% | +26.02% | |
| 3Y Return (annualized) | - | +25.51% | |
| 5Y Return (annualized) | - | +15.12% | |
| Volatility (annualized) | 2.0% | 30.6% | |
| Max Drawdown | -4.0% | -83.0% | |
| Fund Family | Calamos Investments | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Jul 8, 2025 | Mar 10, 1999 |
CBOY vs QQQ Performance
Calamos Bitcoin Structured Alt Protection ETF - July (CBOY) is a ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CBOY returned -2.01% while QQQ returned +26.02%. Year to date, CBOY is down 0.43% versus a gain of 17.46% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 2.0% for CBOY. 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 -4.0% for CBOY 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CBOY 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, CBOY currently yields 1.37% against 0.41% for QQQ.
Frequently Asked Questions
Which is cheaper, CBOY or QQQ?
CBOY 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, CBOY or QQQ?
Over the past year CBOY returned -2.01% vs +26.02% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), CBOY annualized -0.53% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, CBOY or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 2.0% for CBOY. Worst drawdown: CBOY -4.0% vs QQQ -83.0%.
Should I hold both CBOY and QQQ?
CBOY and QQQ have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CBOY or QQQ?
CBOY yields 1.37% while QQQ yields 0.41%, so CBOY currently pays the higher dividend yield.
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