CBXJ vs. GFOF

Last updated Jun 24, 2026

CBXJ (Calamos Bitcoin 90 Series Structured Alt Protection ETF - January) and GFOF (Grayscale Future of Finance ETF) are both Blockchain funds. CBXJ is actively managed, while GFOF is passively managed. CBXJ charges 0.69%/yr vs 0.70%/yr for GFOF.

Performance

CBXJ vs. GFOF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Bitcoin 90 Series Structured Alt Protection ETF - January (CBXJ) and Grayscale Future of Finance ETF (GFOF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CBXJ

• 1D: -0.85%
• 1M: -6.08%
• YTD: -11.67%
• 6M: -12.37%
• 1Y: -21.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GFOF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBXJ vs. GFOF - Yearly Performance Comparison

	2026 (YTD)	2025
CBXJ Calamos Bitcoin 90 Series Structured Alt Protection ETF - January	-11.67%	-7.64%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%

Return for Risk

CBXJ vs. GFOF — Risk / Return Rank

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

CBXJ

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

GFOF

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.

CBXJ vs. GFOF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Bitcoin 90 Series Structured Alt Protection ETF - January (CBXJ) and Grayscale Future of Finance ETF (GFOF). 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.

	CBXJ	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	-1.21	—	—
Sortino ratio: Return per unit of downside risk	-1.66	—	—
Omega ratio: Gain probability vs. loss probability	0.81	—	—
Calmar ratio: Return relative to maximum drawdown	-0.73	—	—
Martin ratio: Return relative to average drawdown	-1.17	—	—

Drawdowns

Drawdown Indicators

	CBXJ	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-29.25%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-29.25%	—	—
Current Drawdown Current decline from peak	-29.25%	—	—
Average Drawdown Average peak-to-trough decline	-11.33%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	18.30%	—	—

Volatility

Volatility by Period

	CBXJ	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.78%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.49%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	—	—

CBXJ vs. GFOF - Expense Ratio Comparison

CBXJ has a 0.69% expense ratio, which is lower than GFOF's 0.70% expense ratio.

Dividends

CBXJ vs. GFOF - Dividend Comparison

CBXJ's dividend yield for the trailing twelve months is around 2.23%, while GFOF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CBXJ Calamos Bitcoin 90 Series Structured Alt Protection ETF - January	2.23%	1.97%	0.00%	0.00%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%

Frequently Asked Questions

Which ETF is better, CBXJ or GFOF?

On fees, CBXJ 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, CBXJ or GFOF?

CBXJ is cheaper with a 0.69% expense ratio, compared with 0.70% for GFOF.

Which ETF pays a higher dividend yield, CBXJ or GFOF?

CBXJ has the higher dividend yield at 2.23%, compared with 0.00% for GFOF.

What is the main difference between CBXJ and GFOF?

They also come from different issuers: Calamos and Grayscale. Their fees differ too: 0.69% for CBXJ and 0.70% for GFOF.