CBTA vs. JULB
CBTA (Calamos Bitcoin 80 Series Structured Alt Protection ETF - April) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. CBTA is passively managed, while JULB is actively managed. Their 0.50 correlation means their historical movements had little consistent relationship. CBTA charges 0.69%/yr vs 0.25%/yr for JULB.
Performance
CBTA vs. JULB - Performance Comparison
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Returns By Period
In the year-to-date period, CBTA achieves a -24.45% return, which is significantly lower than JULB's 8.79% return.
CBTA
- 1D
- 0.83%
- 1M
- 2.26%
- 6M
- -16.28%
- YTD
- -24.45%
- 1Y
- -33.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -11.98%
JULB
- 1D
- 0.65%
- 1M
- 1.23%
- 6M
- 7.52%
- YTD
- 8.79%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.28K | $37.33K | $32.42K | |
| $147.19K | $170.46K | $229.15K |
CBTA vs. JULB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CBTA Calamos Bitcoin 80 Series Structured Alt Protection ETF - April | -24.45% | -14.27% |
JULB Aptus July Buffer ETF | 8.79% | 2.44% |
Correlation
The correlation between CBTA and JULB is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.50 |
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Return for Risk
CBTA vs. JULB — Risk / Return Rank
CBTA
JULB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CBTA vs. JULB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Bitcoin 80 Series Structured Alt Protection ETF - April (CBTA) and Aptus July Buffer ETF (JULB). 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.
| CBTA | JULB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.81 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | — | — |
| Martin ratioReturn relative to average drawdown | -1.32 | — | — |
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Drawdowns
CBTA vs. JULB - Drawdown Comparison
The maximum CBTA drawdown since its inception was -39.83%, which is greater than JULB's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for CBTA and JULB.
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Drawdown Indicators
| CBTA | JULB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.83% | -5.24% | -34.59% |
Max Drawdown (1Y)Largest decline over 1 year | -39.83% | — | — |
Current DrawdownCurrent decline from peak | -36.91% | 0.00% | -36.91% |
Average DrawdownAverage peak-to-trough decline | -15.96% | -0.78% | -15.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.05% | — | — |
Volatility
CBTA vs. JULB - Volatility Comparison
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Volatility by Period
| CBTA | JULB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 21.40% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 29.44% | 6.83% | +22.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.78% | 6.83% | +19.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.78% | 6.83% | +19.95% |
CBTA vs. JULB - Expense Ratio Comparison
CBTA has a 0.69% expense ratio, which is higher than JULB's 0.25% expense ratio.
Dividends
CBTA vs. JULB - Dividend Comparison
CBTA's dividend yield for the trailing twelve months is around 1.18%, while JULB has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
CBTA Calamos Bitcoin 80 Series Structured Alt Protection ETF - April | 1.18% | 0.89% |
JULB Aptus July Buffer ETF | 0.00% | 0.00% |
Frequently Asked Questions
CBTA and JULB have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JULB is cheaper with a 0.25% expense ratio, compared with 0.69% for CBTA.
CBTA has the higher dividend yield at 1.18%, compared with 0.00% for JULB.
They also come from different issuers: Calamos and Aptus. Their fees differ too: 0.69% for CBTA and 0.25% for JULB.
Find the right allocation for CBTA and JULB
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