CBTJ vs. COZX

Last updated Jun 25, 2026

CBTJ (Calamos Bitcoin 80 Series Structured Alt Protection ETF - January) and COZX (Tradr 2X Long CORZ Daily ETF) are both exchange-traded funds - CBTJ is a Blockchain fund actively managed by Calamos, while COZX is a Leveraged Equities fund actively managed by Tradr. Both are actively managed. At a 0.49 correlation, their price movements are largely independent. CBTJ charges 0.69%/yr vs 1.30%/yr for COZX.

Performance

CBTJ vs. COZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ) and Tradr 2X Long CORZ Daily ETF (COZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBTJ achieves a -20.11% return, which is significantly lower than COZX's 171.81% return.

CBTJ

• 1D: -1.33%
• 1M: -11.35%
• YTD: -20.11%
• 6M: -20.64%
• 1Y: -33.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COZX

• 1D: -9.88%
• 1M: 15.24%
• YTD: 171.81%
• 6M: 137.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBTJ vs. COZX - Yearly Performance Comparison

	2026 (YTD)	2025
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January	-20.11%	-13.87%
COZX Tradr 2X Long CORZ Daily ETF	171.81%	-61.72%

Correlation

The correlation between CBTJ and COZX is 0.49, 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 5, 2025	0.49

Return for Risk

CBTJ vs. COZX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBTJ

CBTJ Risk / Return Rank: 1
CBTJ Sharpe Ratio Rank: 0
CBTJ Sortino Ratio Rank: 1
CBTJ Omega Ratio Rank: 1
CBTJ Calmar Ratio Rank: 2
CBTJ Martin Ratio Rank: 3

COZX

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBTJ vs. COZX - 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 Tradr 2X Long CORZ Daily ETF (COZX). 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	COZX	Difference
Sharpe ratio: Return per unit of total volatility	-1.25	—	—
Sortino ratio: Return per unit of downside risk	-1.81	—	—
Omega ratio: Gain probability vs. loss probability	0.80	—	—
Calmar ratio: Return relative to maximum drawdown	-0.81	—	—
Martin ratio: Return relative to average drawdown	-1.32	—	—

Drawdowns

CBTJ vs. COZX - Drawdown Comparison

The maximum CBTJ drawdown since its inception was -41.69%, smaller than the maximum COZX drawdown of -70.44%. Use the drawdown chart below to compare losses from any high point for CBTJ and COZX.

Drawdown Indicators

	CBTJ	COZX	Difference
Max Drawdown Largest peak-to-trough decline	-41.69%	-70.44%	+28.75%
Max Drawdown (1Y) Largest decline over 1 year	-41.69%	—	—
Current Drawdown Current decline from peak	-41.69%	-11.21%	-30.48%
Average Drawdown Average peak-to-trough decline	-16.10%	-41.13%	+25.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.45%	—	—

Volatility

Volatility by Period

	CBTJ	COZX	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%	136.34%	-109.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.35%	136.34%	-110.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.35%	136.34%	-110.99%

CBTJ vs. COZX - Expense Ratio Comparison

CBTJ has a 0.69% expense ratio, which is lower than COZX's 1.30% expense ratio.

Dividends

CBTJ vs. COZX - Dividend Comparison

CBTJ's dividend yield for the trailing twelve months is around 1.81%, while COZX has not paid dividends to shareholders.

Position	TTM	2025
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January	1.81%	1.45%
COZX Tradr 2X Long CORZ Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both CBTJ and COZX in my portfolio?

CBTJ and COZX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBTJ or COZX?

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.

Which ETF is cheaper, CBTJ or COZX?

CBTJ is cheaper with a 0.69% expense ratio, compared with 1.30% for COZX.

Which ETF pays a higher dividend yield, CBTJ or COZX?

CBTJ has the higher dividend yield at 1.81%, compared with 0.00% for COZX.

What is the main difference between CBTJ and COZX?

CBTJ is categorized as Blockchain, while COZX is Leveraged Equities. They also come from different issuers: Calamos and Tradr. Their fees differ too: 0.69% for CBTJ and 1.30% for COZX.