JULB vs. CBOY
JULB (Aptus July Buffer ETF) and CBOY (Calamos Bitcoin Structured Alt Protection ETF - July) are both Defined Outcome funds. JULB is actively managed, while CBOY is passively managed. Their 0.35 correlation means their historical movements had little consistent relationship. JULB charges 0.25%/yr vs 0.69%/yr for CBOY.
Performance
JULB vs. CBOY - Performance Comparison
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Returns By Period
In the year-to-date period, JULB achieves a 8.08% return, which is significantly higher than CBOY's -0.37% return.
JULB
- 1D
- 0.54%
- 1M
- 0.57%
- 6M
- 7.15%
- YTD
- 8.08%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
CBOY
- 1D
- -0.29%
- 1M
- -0.06%
- 6M
- -0.08%
- YTD
- -0.37%
- 1Y
- -1.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $82.48K | $66.40K | $36.06K | |
| $122.17K | $181.25K | $221.75K |
JULB vs. CBOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JULB Aptus July Buffer ETF | 8.08% | 2.44% |
CBOY Calamos Bitcoin Structured Alt Protection ETF - July | -0.37% | -2.27% |
Correlation
The correlation between JULB and CBOY is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.35 |
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Return for Risk
JULB vs. CBOY — Risk / Return Rank
JULB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CBOY
JULB vs. CBOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aptus July Buffer ETF (JULB) and Calamos Bitcoin Structured Alt Protection ETF - July (CBOY). 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.
| JULB | CBOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.90 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.46 | — |
| Martin ratioReturn relative to average drawdown | — | -0.66 | — |
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Drawdowns
JULB vs. CBOY - Drawdown Comparison
The maximum JULB drawdown since its inception was -5.24%, which is greater than CBOY's maximum drawdown of -3.99%. Use the drawdown chart below to compare losses from any high point for JULB and CBOY.
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Drawdown Indicators
| JULB | CBOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.24% | -3.99% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.99% | — |
Current DrawdownCurrent decline from peak | -0.20% | -3.18% | +2.98% |
Average DrawdownAverage peak-to-trough decline | -0.78% | -2.33% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.80% | — |
Volatility
JULB vs. CBOY - Volatility Comparison
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Volatility by Period
| JULB | CBOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.05% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.81% | 3.15% | +3.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 3.22% | +3.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.81% | 3.22% | +3.59% |
JULB vs. CBOY - Expense Ratio Comparison
JULB has a 0.25% expense ratio, which is lower than CBOY's 0.69% expense ratio.
Dividends
JULB vs. CBOY - Dividend Comparison
JULB has not paid dividends to shareholders, while CBOY's dividend yield for the trailing twelve months is around 1.37%.
| Position | TTM | 2025 |
|---|---|---|
CBOY Calamos Bitcoin Structured Alt Protection ETF - July | 1.37% | 1.37% |
JULB Aptus July Buffer ETF | 0.00% | 0.00% |
Frequently Asked Questions
JULB and CBOY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JULB is cheaper with a 0.25% expense ratio, compared with 0.69% for CBOY.
CBOY has the higher dividend yield at 1.37%, compared with 0.00% for JULB.
They also come from different issuers: Aptus and Calamos. Their fees differ too: 0.25% for JULB and 0.69% for CBOY.
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