CBXJ vs. GFOF

Last updated Jun 4, 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: -0.69%
• 1M: -6.42%
• YTD: -10.13%
• 6M: -15.21%
• 1Y: -20.48%
• 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	-10.13%	-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: 1
CBXJ Sortino Ratio Rank: 1
CBXJ Omega Ratio Rank: 1
CBXJ Calmar Ratio Rank: 3
CBXJ Martin Ratio Rank: 3

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.

	CBXJ	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	-1.15	—	—
Sortino ratio: Return per unit of downside risk	-1.57	—	—
Omega ratio: Gain probability vs. loss probability	0.82	—	—
Calmar ratio: Return relative to maximum drawdown	-0.73	—	—
Martin ratio: Return relative to average drawdown	-1.20	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CBXJ	GFOF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.79	—	—

Drawdowns

Drawdown Indicators

	CBXJ	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-28.02%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-28.02%	—	—
Current Drawdown Current decline from peak	-28.02%	—	—
Average Drawdown Average peak-to-trough decline	-10.68%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	17.11%	—	—

Volatility

Volatility by Period

	CBXJ	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.94%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.71%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	—	—

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 2.19%, while GFOF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CBXJ Calamos Bitcoin 90 Series Structured Alt Protection ETF - January	2.19%	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 2.19%, 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.