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STEN vs. CBXA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

STEN vs. CBXA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Sep ETF (STEN) and Calamos Bitcoin 90 Series Structured Alt Protection ETF - April (CBXA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, STEN achieves a 6.53% return, which is significantly higher than CBXA's -21.17% return.


STEN

1D
-0.86%
1M
-0.34%
YTD
6.53%
6M
6.05%
1Y
3Y*
5Y*
10Y*

CBXA

1D
-1.11%
1M
-5.76%
YTD
-21.17%
6M
-21.33%
1Y
-22.76%
3Y*
5Y*
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

STEN vs. CBXA - Yearly Performance Comparison


Correlation

The correlation between STEN and CBXA is 0.51, 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 1, 2025

0.51

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Return for Risk

STEN vs. CBXA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

STEN

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


CBXA
CBXA Risk / Return Rank: 11
Overall Rank
CBXA Sharpe Ratio Rank: 00
Sharpe Ratio Rank
CBXA Sortino Ratio Rank: 11
Sortino Ratio Rank
CBXA Omega Ratio Rank: 11
Omega Ratio Rank
CBXA Calmar Ratio Rank: 22
Calmar Ratio Rank
CBXA Martin Ratio Rank: 11
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

STEN vs. CBXA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Sep ETF (STEN) and Calamos Bitcoin 90 Series Structured Alt Protection ETF - April (CBXA). 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.


STENCBXADifference
Sharpe ratioReturn per unit of total volatility

Sortino ratioReturn per unit of downside risk

Omega ratioGain probability vs. loss probability

0.79

Calmar ratioReturn relative to maximum drawdown

-0.79

Martin ratioReturn relative to average drawdown

-1.48

STEN vs. CBXA - Sharpe Ratio Comparison


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Drawdowns

STEN vs. CBXA - Drawdown Comparison

The maximum STEN drawdown since its inception was -6.21%, smaller than the maximum CBXA drawdown of -28.98%. Use the drawdown chart below to compare losses from any high point for STEN and CBXA.


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Drawdown Indicators


STENCBXADifference

Max Drawdown

Largest peak-to-trough decline

-6.21%

-28.98%

+22.77%

Max Drawdown (1Y)

Largest decline over 1 year

-28.98%

Current Drawdown

Current decline from peak

-1.47%

-28.23%

+26.76%

Average Drawdown

Average peak-to-trough decline

-0.93%

-9.48%

+8.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

15.43%

Volatility

STEN vs. CBXA - Volatility Comparison


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Volatility by Period


STENCBXADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.12%

Volatility (6M)

Calculated over the trailing 6-month period

14.95%

Volatility (1Y)

Calculated over the trailing 1-year period

9.46%

18.12%

-8.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.46%

17.01%

-7.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.46%

17.01%

-7.55%

STEN vs. CBXA - Expense Ratio Comparison

STEN has a 0.50% expense ratio, which is lower than CBXA's 0.69% expense ratio.


Dividends

STEN vs. CBXA - Dividend Comparison

STEN's dividend yield for the trailing twelve months is around 0.29%, less than CBXA's 2.50% yield.


Frequently Asked Questions


STEN and CBXA have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, STEN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

STEN is cheaper with a 0.50% expense ratio, compared with 0.69% for CBXA.

CBXA has the higher dividend yield at 2.50%, compared with 0.29% for STEN.

They also come from different issuers: BlackRock and Calamos. Their fees differ too: 0.50% for STEN and 0.69% for CBXA.

Portfolio Optimizer

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