CBTJ vs BCDF

Comparison between Calamos Bitcoin 80 Series Structured Alt Protection ETF January (CBTJ, ETF) and HORIZON KINETICS BLOCKCHAIN DEVELOPMENT ETF (BCDF, ETF).

CBTJ vs BCDF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBTJ(ETF)	BCDF(ETF)
Net Assets	$22M	$23M
Expense Ratio	0.69%	0.85%
Max Drawdown	41.78%	27.97%
Sharpe Ratio	-1.46	0.36
5Y Beta	0.54	0.57
P/E Ratio	N/A	32.42
Debt to Equity	N/A	55.68%
P/S Ratio	N/A	1.02
P/B Ratio	N/A	3.38

Net Assets

CBTJ

$22M

Winner

BCDF

$23M

Expense Ratio

Winner

CBTJ

0.69%

BCDF

0.85%

Max Drawdown

CBTJ

41.78%

Winner

BCDF

27.97%

Sharpe Ratio

CBTJ

-1.46

Winner

BCDF

0.36

5Y Beta

Winner

CBTJ

0.54

BCDF

0.57

P/E Ratio

CBTJ

N/A

BCDF

32.42

Debt to Equity

CBTJ

N/A

BCDF

55.68%

P/S Ratio

CBTJ

N/A

BCDF

1.02

P/B Ratio

CBTJ

N/A

BCDF

3.38

CBTJ vs BCDF - Historical Returns

Returns include dividend reinvestment.

Period	CBTJ	BCDF
1 month	-12.31%	-3.52%
3 months	-6.39%	+2.32%
6 months	-21.47%	+5.30%
1 year	-32.00%	+7.39%
Max(CAGR)	-20.97%	+6.98%

CBTJ

-12.31%

Winner

BCDF

-3.52%

CBTJ

-6.39%

Winner

BCDF

+2.32%

CBTJ

-21.47%

Winner

BCDF

+5.30%

CBTJ

-32.00%

Winner

BCDF

+7.39%

Max(CAGR)

CBTJ

-20.97%

Winner

BCDF

+6.98%

CBTJ vs BCDF - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	CBTJ	BCDF
2026	-19.99%	+4.13%
2025	-11.30%	+11.23%
2024	N/A	+16.57%
2023	N/A	+25.31%
2022	N/A	-22.71%

CBTJ vs BCDF Drawdown Comparison

The maximum drawdown for CBTJ was -40.97%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The maximum drawdown for BCDF was -27.71%, occurring on Mar 15, 2023. Recovery took 508 trading sessions.

The current CBTJ drawdown is -40.10%. The current BCDF drawdown is -6.22%.

Rank	CBTJ	BCDF
#1	-40.97% Oct 6, 2025 - Jun 5, 2026	-27.71% Aug 12, 2022 - Aug 21, 2024
#2	-9.86% Feb 20, 2025 - May 8, 2025	-13.47% Nov 22, 2024 - May 1, 2025
#3	-7.63% Aug 13, 2025 - Oct 2, 2025	-9.24% May 22, 2026 - Jun 5, 2026
#4	-4.26% May 22, 2025 - Jun 10, 2025	-7.51% Jan 16, 2026 - Apr 16, 2026
#5	-3.86% Jul 14, 2025 - Aug 12, 2025	-7.25% Jul 24, 2025 - Jan 15, 2026
#6	-3.35% Jun 10, 2025 - Jul 2, 2025	-4.26% Nov 11, 2024 - Nov 22, 2024
#7	-1.92% Feb 10, 2025 - Feb 20, 2025	-2.85% May 19, 2025 - Jun 30, 2025
#8	-0.82% Feb 5, 2025 - Feb 10, 2025	-2.80% Oct 28, 2024 - Nov 7, 2024
#9	-0.75% May 13, 2025 - May 19, 2025	-2.47% Aug 27, 2024 - Sep 16, 2024
#10	-0.66% Jul 2, 2025 - Jul 9, 2025	-1.85% Jul 3, 2025 - Jul 17, 2025
#11	-0.59% May 9, 2025 - May 13, 2025	-1.81% Oct 18, 2024 - Oct 28, 2024
#12	N/A	-1.70% Aug 8, 2022 - Aug 10, 2022
#13	N/A	-1.63% Oct 4, 2024 - Oct 14, 2024
#14	N/A	-1.46% Apr 16, 2026 - May 1, 2026
#15	N/A	-1.06% May 9, 2025 - May 15, 2025

Correlation

Correlation between CBTJ and BCDF is -0.37 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.37

-101