IFEB vs. CBOX

Last updated Aug 2, 2026

IFEB (Innovator International Developed Power Buffer ETF - February) and CBOX (Calamos Tax-Aware Collateral ETF) are both Options Trading funds. Both are actively managed. Their 0.04 correlation means their historical movements had little consistent relationship. IFEB charges 0.85%/yr vs 0.14%/yr for CBOX.

Performance

IFEB vs. CBOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - February (IFEB) and Calamos Tax-Aware Collateral ETF (CBOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IFEB

• 1D: -0.16%
• 1M: 1.00%
• 6M: 3.90%
• YTD: 4.84%
• 1Y: 11.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.87%

CBOX

• 1D: 0.00%
• 1M: 0.37%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
CBOX Calamos Tax-Aware Collateral ETF	$7.89M	$8.89M	$7.14M
IFEB Innovator International Developed Power Buffer ETF - February	$236.38K	$418.05K	$331.11K

IFEB vs. CBOX - Yearly Performance Comparison

	2026 (YTD)
IFEB Innovator International Developed Power Buffer ETF - February	2.87%
CBOX Calamos Tax-Aware Collateral ETF	1.12%

Correlation

The correlation between IFEB and CBOX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 17, 2026	0.04

Return for Risk

IFEB vs. CBOX — Risk / Return Rank

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

IFEB

IFEB Risk / Return Rank: 62
IFEB Sharpe Ratio Rank: 63
IFEB Sortino Ratio Rank: 64
IFEB Omega Ratio Rank: 72
IFEB Calmar Ratio Rank: 50
IFEB Martin Ratio Rank: 61

CBOX

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

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.

IFEB vs. CBOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - February (IFEB) and Calamos Tax-Aware Collateral ETF (CBOX). 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.

	IFEB	CBOX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	—	—
Sortino ratio: Return per unit of downside risk	2.15	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	1.81	—	—
Martin ratio: Return relative to average drawdown	7.42	—	—

Drawdowns

IFEB vs. CBOX - Drawdown Comparison

The maximum IFEB drawdown since its inception was -8.84%, which is greater than CBOX's maximum drawdown of -2.90%. Use the drawdown chart below to compare losses from any high point for IFEB and CBOX.

Drawdown Indicators

	IFEB	CBOX	Difference
Max Drawdown Largest peak-to-trough decline	-8.84%	-2.90%	-5.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	—	—
Current Drawdown Current decline from peak	-0.16%	-2.30%	+2.14%
Average Drawdown Average peak-to-trough decline	-1.61%	-1.47%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	—	—

Volatility

Volatility by Period

	IFEB	CBOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.30%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.98%	7.83%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.07%	7.83%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.07%	7.83%	+1.24%

IFEB vs. CBOX - Expense Ratio Comparison

IFEB has a 0.85% expense ratio, which is higher than CBOX's 0.14% expense ratio.

Dividends

IFEB vs. CBOX - Dividend Comparison

Neither IFEB nor CBOX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IFEB and CBOX in my portfolio?

IFEB and CBOX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IFEB or CBOX?

On fees, CBOX is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IFEB or CBOX?

CBOX is cheaper with a 0.14% expense ratio, compared with 0.85% for IFEB.

Which ETF pays a higher dividend yield, IFEB or CBOX?

IFEB and CBOX have nearly identical dividend yields, around 0.00%.

What is the main difference between IFEB and CBOX?

They also come from different issuers: Innovator and Calamos. Their fees differ too: 0.85% for IFEB and 0.14% for CBOX.