Calamos Bitcoin 90% Protection Strategy ETF… (CBXJ) Performance
CBXJ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −4.1% since Dec 31, 2025
- 1 year
- −18.6% total return
- Since first price
- −11.4% since 2025
CBXJ trailing returns vs SPY, QQQ, AGG
| Period | CBXJ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.9% | −1.9% | −1.0% | −5.0% | +0.9% |
| 3 months | +8.1% | +8.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.8% | +0.8% | +7.8% | +8.4% | −1.5% |
| YTD | −4.1% | −4.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −18.6% | −20.1% | +14.4% | +15.9% | −1.1% |
| Since inceptionFeb 4, 2025 | −11.4% | −13.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CBXJ vs SPY
From Feb 4, 2025: CBXJ grew to $8,859, SPY to $12,877.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CBXJ returns by calendar year
2026 is year to date.
CBXJ annual returns table
| Year | CBXJ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −4.1% | −18.6% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CBXJ largest drawdowns
Now 23.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 6, 2025 | −30.2% | Jun 30, 2026 | not yet | 9 months | 1.0 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CBXJ risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −4.4% |
| Volatility (annualized) | 16.2% |
| Sharpe ratio | -0.44 |
| Sortino ratio | -0.54 |
| Best month | +7.7% |
| Worst month | −11.5% |
| Best 12 months | −11.9% |
| Worst 12 months | −26.5% |
| Positive months | 53% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CBXJ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 9 | −26.5% | −18.7% | −11.9% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
CBXJ performance overview
Calamos Bitcoin 90% Protection Strategy ETF… (CBXJ) returned −18.6% over the past year, with distributions reinvested. Since its first recorded price on Feb 4, 2025 it has returned −11.4%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −30.2%, from Oct 6, 2025 to Jun 30, 2026; the fund has not yet regained that high. Volatility has been 16.2% a year.
Related: CBXJ chart, CBXJ dividends. See the CBXJ overview for the latest quote and fund facts.
CBXJ performance FAQ
What is the CBXJ return over the past year?
CBXJ returned −18.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 20.1%.
How much would $10,000 invested in CBXJ be worth?
$10,000 invested in CBXJ at its first recorded close on February 4, 2025 would be worth about $8,859 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of CBXJ?
The largest peak-to-trough decline was −30.2% between October 6, 2025 and June 30, 2026. It has not yet recovered to that high; it is 23.2% below its peak.
How volatile is CBXJ?
Over the past history CBXJ had an annualized volatility of 16.2% and a Sharpe ratio of -0.44 (excess return over 1–3 month T-bills per unit of risk).