CBTJ vs. CAGE
CBTJ (Calamos Bitcoin 80 Series Structured Alt Protection ETF - January) and CAGE (Calamos Autocallable Growth ETF) are both exchange-traded funds - CBTJ is a Blockchain fund actively managed by Calamos, while CAGE is a Defined Outcome fund actively managed by Calamos. Both are actively managed. Their 0.42 correlation means their historical movements had little consistent relationship. CBTJ charges 0.69%/yr vs 0.74%/yr for CAGE.
Performance
CBTJ vs. CAGE - Performance Comparison
Loading charts...
Returns By Period
CBTJ
- 1D
- 0.16%
- 1M
- 0.52%
- 6M
- -10.11%
- YTD
- -19.11%
- 1Y
- -36.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -19.93%
CAGE
- 1D
- 3.40%
- 1M
- 5.64%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.54M | $3.19M | $2.74M | |
| $73.35K | $163.83K | $333.67K |
CBTJ vs. CAGE - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January | -10.39% |
CAGE Calamos Autocallable Growth ETF | 16.75% |
Correlation
The correlation between CBTJ and CAGE is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 16, 2026 | 0.42 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CBTJ vs. CAGE — Risk / Return Rank
CBTJ
CAGE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CBTJ vs. CAGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ) and Calamos Autocallable Growth ETF (CAGE). 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.
| CBTJ | CAGE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.77 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | — | — |
| Martin ratioReturn relative to average drawdown | -1.27 | — | — |
Loading charts...
Drawdowns
CBTJ vs. CAGE - Drawdown Comparison
The maximum CBTJ drawdown since its inception was -42.41%, which is greater than CAGE's maximum drawdown of -6.67%. Use the drawdown chart below to compare losses from any high point for CBTJ and CAGE.
Loading charts...
Drawdown Indicators
| CBTJ | CAGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.41% | -6.67% | -35.74% |
Max Drawdown (1Y)Largest decline over 1 year | -42.41% | — | — |
Current DrawdownCurrent decline from peak | -40.96% | 0.00% | -40.96% |
Average DrawdownAverage peak-to-trough decline | -17.94% | -2.00% | -15.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.86% | — | — |
Volatility
CBTJ vs. CAGE - Volatility Comparison
Loading charts...
Volatility by Period
| CBTJ | CAGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.63% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 13.52% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 26.56% | 22.46% | +4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.64% | 22.46% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.64% | 22.46% | +2.18% |
CBTJ vs. CAGE - Expense Ratio Comparison
CBTJ has a 0.69% expense ratio, which is lower than CAGE's 0.74% expense ratio.
Dividends
CBTJ vs. CAGE - Dividend Comparison
CBTJ's dividend yield for the trailing twelve months is around 1.79%, while CAGE has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
CAGE Calamos Autocallable Growth ETF | 0.00% | 0.00% |
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January | 1.79% | 1.45% |
Frequently Asked Questions
CBTJ and CAGE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBTJ is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBTJ is cheaper with a 0.69% expense ratio, compared with 0.74% for CAGE.
CBTJ has the higher dividend yield at 1.79%, compared with 0.00% for CAGE.
CBTJ is categorized as Blockchain, while CAGE is Defined Outcome. Their fees differ too: 0.69% for CBTJ and 0.74% for CAGE.
Find the right allocation for CBTJ and CAGE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer