CBXL vs. KFEB
CBXL (Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF) and KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) are both Defined Outcome funds. Both are actively managed. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.
Performance
CBXL vs. KFEB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CBXL achieves a -10.63% return, which is significantly lower than KFEB's 10.58% return.
CBXL
- 1D
- -0.65%
- 1M
- -4.41%
- YTD
- -10.63%
- 6M
- -11.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KFEB
- 1D
- -1.49%
- 1M
- -0.41%
- YTD
- 10.58%
- 6M
- 9.48%
- 1Y
- 23.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBXL vs. KFEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CBXL Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF | -10.63% | -9.21% |
KFEB Innovator U.S. Small Cap Power Buffer ETF - February | 10.58% | 0.40% |
Correlation
The correlation between CBXL and KFEB is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025 | 0.52 |
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
CBXL vs. KFEB — Risk / Return Rank
CBXL
KFEB
CBXL vs. KFEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF (CBXL) and Innovator U.S. Small Cap Power Buffer ETF - February (KFEB). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Sharpe Ratios by Period
| CBXL | KFEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -2.09 | 1.12 | -3.20 |
Drawdowns
CBXL vs. KFEB - Drawdown Comparison
The maximum CBXL drawdown since its inception was -19.49%, which is greater than KFEB's maximum drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for CBXL and KFEB.
Loading charts...
Drawdown Indicators
| CBXL | KFEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.49% | -14.16% | -5.33% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.80% | — |
Current DrawdownCurrent decline from peak | -19.49% | -1.49% | -18.00% |
Average DrawdownAverage peak-to-trough decline | -12.23% | -2.32% | -9.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.59% | — |
Volatility
CBXL vs. KFEB - Volatility Comparison
Loading charts...
Volatility by Period
| CBXL | KFEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.83% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 11.09% | +2.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 13.31% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.41% | 13.31% | +0.10% |
CBXL vs. KFEB - Expense Ratio Comparison
Both CBXL and KFEB have an expense ratio of 0.79%.
Dividends
CBXL vs. KFEB - Dividend Comparison
CBXL's dividend yield for the trailing twelve months is around 1.59%, while KFEB has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
CBXL Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF | 1.59% | 1.42% |
KFEB Innovator U.S. Small Cap Power Buffer ETF - February | 0.00% | 0.00% |
Frequently Asked Questions
CBXL and KFEB have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CBXL and KFEB have the same expense ratio: 0.79% per year.
CBXL has the higher dividend yield at 1.59%, compared with 0.00% for KFEB.
They also come from different issuers: Calamos and Innovator.
Find the right allocation for CBXL and KFEB
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