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Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF CBTL
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | CBTL | Replication |
|---|---|---|
| Annualized growth | -17.1% | 1.0% |
| Annualized volatility | 18.8% | 18.6% |
| Sharpe ratio | -0.91 | 0.14 |
| Maximum drawdown | 27.7% | 15.5% |
| Replication fit (R²) | 0.86 · Tracking error 6.9% | |
Replication portfolio
The published portfolio below is the investable basket used to model CBTL’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| WTMF | Alternatives · Mgt Futures | 62.4% |
| IBIT | Alternatives · Bitcoin | 37.6% |