CBTJ vs IVV
Calamos Bitcoin 80 Series Structured Alt Protection ETF - January vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | CBTJ | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $24M | $907.0B | |
| Dividend Yield | 1.77% | 1.10% | |
| Holdings | 7 | 508 | |
| YTD Return | -15.87% | +12.28% | |
| 1Y Return | -32.85% | +20.94% | |
| 3Y Return (annualized) | - | +21.81% | |
| 5Y Return (annualized) | - | +13.05% | |
| Volatility (annualized) | 23.3% | 15.1% | |
| Max Drawdown | -42.4% | -56.5% | |
| Fund Family | Calamos Investments | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Feb 4, 2025 | May 15, 2000 |
CBTJ vs IVV Performance
Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ) is a ETF from Calamos Investments and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CBTJ returned -32.85% while IVV returned +20.94%. Year to date, CBTJ is down 15.87% versus a gain of 12.28% for IVV.
Risk: Volatility and Drawdowns
CBTJ has been the more volatile fund, with annualized monthly volatility of 23.3% compared with 15.1% for IVV. 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 -42.4% for CBTJ and -56.5% for IVV. 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 0.35. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CBTJ charges 0.69% per year while IVV 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, CBTJ currently yields 1.77% against 1.10% for IVV.
Frequently Asked Questions
Which is cheaper, CBTJ or IVV?
CBTJ has an expense ratio of 0.69% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CBTJ or IVV?
Over the past year CBTJ returned -32.85% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CBTJ annualized -15.97% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, CBTJ or IVV?
CBTJ has been the more volatile fund at 23.3% annualized versus 15.1% for IVV. Worst drawdown: CBTJ -42.4% vs IVV -56.5%.
Should I hold both CBTJ and IVV?
CBTJ and IVV have a monthly-return correlation of 0.35, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CBTJ or IVV?
CBTJ yields 1.77% while IVV yields 1.10%, so CBTJ currently pays the higher dividend yield.
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