COZX vs. CBXJ

Last updated Aug 1, 2026

COZX (Tradr 2X Long CORZ Daily ETF) and CBXJ (Calamos Bitcoin 90 Series Structured Alt Protection ETF - January) are both exchange-traded funds - COZX is a Leveraged Equities fund actively managed by Tradr, while CBXJ is a Blockchain fund actively managed by Calamos. Both are actively managed. Their 0.42 correlation means their historical movements had little consistent relationship. COZX charges 1.30%/yr vs 0.69%/yr for CBXJ.

Performance

COZX vs. CBXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long CORZ Daily ETF (COZX) and Calamos Bitcoin 90 Series Structured Alt Protection ETF - January (CBXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COZX achieves a 32.31% return, which is significantly higher than CBXJ's -12.12% return.

COZX

• 1D: -9.34%
• 1M: -16.58%
• 6M: -10.24%
• YTD: 32.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CBXJ

• 1D: -0.79%
• 1M: -0.23%
• 6M: -8.81%
• YTD: -12.12%
• 1Y: -25.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -13.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBXJ Calamos Bitcoin 90 Series Structured Alt Protection ETF - January	$98.27K	$111.32K	$150.57K
COZX Tradr 2X Long CORZ Daily ETF	$405.33K	$717.28K	$1.86M

COZX vs. CBXJ - Yearly Performance Comparison

	2026 (YTD)	2025
COZX Tradr 2X Long CORZ Daily ETF	32.31%	-61.72%
CBXJ Calamos Bitcoin 90 Series Structured Alt Protection ETF - January	-12.12%	-10.83%

Correlation

The correlation between COZX and CBXJ is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	0.42

Return for Risk

COZX vs. CBXJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

COZX

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

CBXJ

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

COZX vs. CBXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long CORZ Daily ETF (COZX) and Calamos Bitcoin 90 Series Structured Alt Protection ETF - January (CBXJ). 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.

	COZX	CBXJ	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.53	—
Sortino ratio: Return per unit of downside risk	—	-2.18	—
Omega ratio: Gain probability vs. loss probability	—	0.75	—
Calmar ratio: Return relative to maximum drawdown	—	-0.88	—
Martin ratio: Return relative to average drawdown	—	-1.28	—

Drawdowns

COZX vs. CBXJ - Drawdown Comparison

The maximum COZX drawdown since its inception was -70.44%, which is greater than CBXJ's maximum drawdown of -30.16%. Use the drawdown chart below to compare losses from any high point for COZX and CBXJ.

Drawdown Indicators

	COZX	CBXJ	Difference
Max Drawdown Largest peak-to-trough decline	-70.44%	-30.16%	-40.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-30.16%	—
Current Drawdown Current decline from peak	-56.78%	-29.61%	-27.17%
Average Drawdown Average peak-to-trough decline	-41.26%	-12.62%	-28.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.65%	—

Volatility

Volatility by Period

	COZX	CBXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	150.65%	17.40%	+133.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	150.65%	16.01%	+134.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	150.65%	16.01%	+134.64%

COZX vs. CBXJ - Expense Ratio Comparison

COZX has a 1.30% expense ratio, which is higher than CBXJ's 0.69% expense ratio.

Dividends

COZX vs. CBXJ - Dividend Comparison

COZX has not paid dividends to shareholders, while CBXJ's dividend yield for the trailing twelve months is around 2.24%.

Position	TTM	2025
CBXJ Calamos Bitcoin 90 Series Structured Alt Protection ETF - January	2.24%	1.97%
COZX Tradr 2X Long CORZ Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both COZX and CBXJ in my portfolio?

COZX and CBXJ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, COZX or CBXJ?

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, COZX or CBXJ?

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

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

CBXJ has the higher dividend yield at 2.24%, compared with 0.00% for COZX.

What is the main difference between COZX and CBXJ?

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