CBOX vs. LITL

Last updated Aug 1, 2026

CBOX (Calamos Tax-Aware Collateral ETF) and LITL (Simplify Piper Sandler US Small-Cap PLUS Income ETF) are both exchange-traded funds - CBOX is a Options Trading fund actively managed by Calamos, while LITL is a Small Cap Blend Equities fund actively managed by Simplify. Both are actively managed. Their -0.10 correlation means they have often moved in opposite directions in the past. CBOX charges 0.14%/yr vs 0.91%/yr for LITL.

Performance

CBOX vs. LITL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Tax-Aware Collateral ETF (CBOX) and Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CBOX

• 1D: 0.00%
• 1M: 0.40%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

LITL

• 1D: 0.24%
• 1M: -2.98%
• 6M: 12.72%
• YTD: 15.04%
• 1Y: 28.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBOX Calamos Tax-Aware Collateral ETF	$7.89M	$8.89M	$7.14M
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	$92.88K	$67.65K	$57.85K

CBOX vs. LITL - Yearly Performance Comparison

	2026 (YTD)
CBOX Calamos Tax-Aware Collateral ETF	1.12%
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	10.13%

Correlation

The correlation between CBOX and LITL is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 17, 2026	-0.10

Return for Risk

CBOX vs. LITL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CBOX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

LITL

LITL Risk / Return Rank: 72
LITL Sharpe Ratio Rank: 67
LITL Sortino Ratio Rank: 71
LITL Omega Ratio Rank: 63
LITL Calmar Ratio Rank: 82
LITL Martin Ratio Rank: 75

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CBOX vs. LITL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Tax-Aware Collateral ETF (CBOX) and Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CBOX	LITL	Difference
Sharpe ratio: Return per unit of total volatility	—	1.57	—
Sortino ratio: Return per unit of downside risk	—	2.35	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	3.05	—
Martin ratio: Return relative to average drawdown	—	9.55	—

Drawdowns

CBOX vs. LITL - Drawdown Comparison

The maximum CBOX drawdown since its inception was -2.90%, smaller than the maximum LITL drawdown of -9.32%. Use the drawdown chart below to compare losses from any high point for CBOX and LITL.

Drawdown Indicators

	CBOX	LITL	Difference
Max Drawdown Largest peak-to-trough decline	-2.90%	-9.32%	+6.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.32%	—
Current Drawdown Current decline from peak	-2.30%	-2.98%	+0.68%
Average Drawdown Average peak-to-trough decline	-1.47%	-2.24%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.98%	—

Volatility

Volatility by Period

	CBOX	LITL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.83%	18.20%	-10.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.83%	18.33%	-10.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.83%	18.33%	-10.50%

CBOX vs. LITL - Expense Ratio Comparison

CBOX has a 0.14% expense ratio, which is lower than LITL's 0.91% expense ratio.

Dividends

CBOX vs. LITL - Dividend Comparison

CBOX has not paid dividends to shareholders, while LITL's dividend yield for the trailing twelve months is around 1.67%.

Position	TTM	2025
CBOX Calamos Tax-Aware Collateral ETF	0.00%	0.00%
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	1.67%	0.71%

Frequently Asked Questions

Can I hold both CBOX and LITL in my portfolio?

CBOX and LITL have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBOX or LITL?

On fees, CBOX is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBOX or LITL?

CBOX is cheaper with a 0.14% expense ratio, compared with 0.91% for LITL.

Which ETF pays a higher dividend yield, CBOX or LITL?

LITL has the higher dividend yield at 1.67%, compared with 0.00% for CBOX.

What is the main difference between CBOX and LITL?

CBOX is categorized as Options Trading, while LITL is Small Cap Blend Equities. They also come from different issuers: Calamos and Simplify. Their fees differ too: 0.14% for CBOX and 0.91% for LITL.