MSFO vs. CBOX
MSFO (YieldMax MSFT Option Income Strategy ETF) and CBOX (Calamos Tax-Aware Collateral ETF) are both Options Trading funds. Both are actively managed. Their 0.16 correlation means their historical movements had little consistent relationship. MSFO charges 1.03%/yr vs 0.14%/yr for CBOX.
Performance
MSFO vs. CBOX - Performance Comparison
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Returns By Period
MSFO
- 1D
- 4.63%
- 1M
- 20.78%
- 6M
- 12.36%
- YTD
- 0.49%
- 1Y
- -3.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.38%
CBOX
- 1D
- 0.00%
- 1M
- 0.37%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.89M | $8.89M | $7.14M | |
| $1.07M | $907.81K | $1.05M |
MSFO vs. CBOX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MSFO YieldMax MSFT Option Income Strategy ETF | 11.76% |
CBOX Calamos Tax-Aware Collateral ETF | 1.12% |
Correlation
The correlation between MSFO and CBOX is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 17, 2026 | 0.16 |
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Return for Risk
MSFO vs. CBOX — Risk / Return Rank
MSFO
CBOX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MSFO vs. CBOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) 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.
| MSFO | CBOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.00 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | — | — |
| Martin ratioReturn relative to average drawdown | -0.24 | — | — |
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Drawdowns
MSFO vs. CBOX - Drawdown Comparison
The maximum MSFO drawdown since its inception was -29.65%, which is greater than CBOX's maximum drawdown of -2.90%. Use the drawdown chart below to compare losses from any high point for MSFO and CBOX.
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Drawdown Indicators
| MSFO | CBOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.65% | -2.90% | -26.75% |
Max Drawdown (1Y)Largest decline over 1 year | -29.65% | — | — |
Current DrawdownCurrent decline from peak | -7.92% | -2.30% | -5.62% |
Average DrawdownAverage peak-to-trough decline | -7.46% | -1.47% | -5.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.15% | — | — |
Volatility
MSFO vs. CBOX - Volatility Comparison
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Volatility by Period
| MSFO | CBOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.36% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 23.34% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.74% | 7.83% | +19.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.90% | 7.83% | +14.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 7.83% | +14.07% |
MSFO vs. CBOX - Expense Ratio Comparison
MSFO has a 1.03% expense ratio, which is higher than CBOX's 0.14% expense ratio.
Dividends
MSFO vs. CBOX - Dividend Comparison
MSFO's dividend yield for the trailing twelve months is around 34.78%, while CBOX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBOX Calamos Tax-Aware Collateral ETF | 0.00% | 0.00% | 0.00% | 0.00% |
MSFO YieldMax MSFT Option Income Strategy ETF | 34.78% | 33.91% | 35.15% | 6.44% |
Frequently Asked Questions
MSFO and CBOX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CBOX is cheaper with a 0.14% expense ratio, compared with 1.03% for MSFO.
MSFO has the higher dividend yield at 34.78%, compared with 0.00% for CBOX.
They also come from different issuers: YieldMax and Calamos. Their fees differ too: 1.03% for MSFO and 0.14% for CBOX.
Find the right allocation for MSFO and CBOX
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