CBTJ vs. CAIQ
CBTJ (Calamos Bitcoin 80 Series Structured Alt Protection ETF - January) and CAIQ (Calamos Nasdaq Autocallable Income ETF) are both exchange-traded funds - CBTJ is a Blockchain fund actively managed by Calamos, while CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index. CBTJ is actively managed, while CAIQ is passively managed. At a 0.43 correlation, their price movements are largely independent. CBTJ charges 0.69%/yr vs 0.74%/yr for CAIQ.
Performance
CBTJ vs. CAIQ - Performance Comparison
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Returns By Period
In the year-to-date period, CBTJ achieves a -20.11% return, which is significantly lower than CAIQ's 11.27% return.
CBTJ
- 1D
- -1.33%
- 1M
- -11.35%
- YTD
- -20.11%
- 6M
- -20.64%
- 1Y
- -33.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CAIQ
- 1D
- -0.53%
- 1M
- -1.00%
- YTD
- 11.27%
- 6M
- 9.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBTJ vs. CAIQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January | -20.11% | -5.74% |
CAIQ Calamos Nasdaq Autocallable Income ETF | 11.27% | 4.03% |
Correlation
The correlation between CBTJ and CAIQ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | 0.43 |
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Return for Risk
CBTJ vs. CAIQ — Risk / Return Rank
CBTJ
CAIQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CBTJ vs. CAIQ - 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 Nasdaq Autocallable Income ETF (CAIQ). 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 | CAIQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.80 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | — | — |
| Martin ratioReturn relative to average drawdown | -1.32 | — | — |
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Drawdowns
CBTJ vs. CAIQ - Drawdown Comparison
The maximum CBTJ drawdown since its inception was -41.69%, which is greater than CAIQ's maximum drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for CBTJ and CAIQ.
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Drawdown Indicators
| CBTJ | CAIQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.69% | -9.06% | -32.63% |
Max Drawdown (1Y)Largest decline over 1 year | -41.69% | — | — |
Current DrawdownCurrent decline from peak | -41.69% | -2.01% | -39.68% |
Average DrawdownAverage peak-to-trough decline | -16.10% | -1.68% | -14.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.45% | — | — |
Volatility
CBTJ vs. CAIQ - Volatility Comparison
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Volatility by Period
| CBTJ | CAIQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 18.07% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.06% | 13.72% | +13.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.35% | 13.72% | +11.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.35% | 13.72% | +11.63% |
CBTJ vs. CAIQ - Expense Ratio Comparison
CBTJ has a 0.69% expense ratio, which is lower than CAIQ's 0.74% expense ratio.
Dividends
CBTJ vs. CAIQ - Dividend Comparison
CBTJ's dividend yield for the trailing twelve months is around 1.81%, less than CAIQ's 8.63% yield.
| Position | TTM | 2025 |
|---|---|---|
CAIQ Calamos Nasdaq Autocallable Income ETF | 8.63% | 1.54% |
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January | 1.81% | 1.45% |
Frequently Asked Questions
CBTJ and CAIQ have a correlation of 0.43, 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 CAIQ.
CAIQ has the higher dividend yield at 8.63%, compared with 1.81% for CBTJ.
CBTJ is categorized as Blockchain, while CAIQ is Nasdaq-100. Their fees differ too: 0.69% for CBTJ and 0.74% for CAIQ.
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