CBXA vs MSTP

Comparison between Calamos Bitcoin 90 Series Structured Alt Protection ETF April (CBXA, ETF) and GRANITESHARES 2X LONG MSTR DAILY ETF (MSTP, ETF).

CBXA vs MSTP - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBXA(ETF)	MSTP(ETF)
Net Assets	$5.20M	$5.20M
Expense Ratio	0.69%	N/A
Max Drawdown	31.01%	98.40%
Sharpe Ratio	-1.67	-1.71
5Y Beta	0.38	5.81

Net Assets

CBXA

$5.20M

MSTP

$5.20M

Expense Ratio

CBXA

0.69%

MSTP

N/A

Max Drawdown

Winner

CBXA

31.01%

MSTP

98.40%

Sharpe Ratio

Winner

CBXA

-1.67

MSTP

-1.71

5Y Beta

Winner

CBXA

0.38

MSTP

5.81

CBXA vs MSTP - Historical Returns

Returns include dividend reinvestment.

Period	CBXA	MSTP
1 month	+1.02%	-19.49%
3 months	-3.11%	-68.77%
6 months	-21.46%	-75.61%
1 year	-24.39%	-97.32%
Max(CAGR)	-9.19%	-95.72%

Winner

CBXA

+1.02%

MSTP

-19.49%

Winner

CBXA

-3.11%

MSTP

-68.77%

Winner

CBXA

-21.46%

MSTP

-75.61%

Winner

CBXA

-24.39%

MSTP

-97.32%

Max(CAGR)

Winner

CBXA

-9.19%

MSTP

-95.72%

CBXA vs MSTP - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

Year	CBXA	MSTP
2026	-20.62%	-74.46%
2025	+9.69%	-88.99%

CBXA vs MSTP Drawdown Comparison

The maximum drawdown for CBXA was -29.67%, occurring on Jun 30, 2026. This drawdown has not yet recovered.

The maximum drawdown for MSTP was -98.40%, occurring on Jun 26, 2026. This drawdown has not yet recovered.

The current CBXA drawdown is -26.67%. The current MSTP drawdown is -97.67%.

Rank	CBXA	MSTP
#1	-29.67% Oct 6, 2025 - Jun 30, 2026	-98.40% Jul 16, 2025 - Jun 26, 2026
#2	-2.43% Sep 18, 2025 - Oct 2, 2025	-15.10% Jun 30, 2025 - Jul 9, 2025
#3	-1.77% May 27, 2025 - Jun 9, 2025	-12.49% Jun 10, 2025 - Jun 30, 2025
#4	-1.74% Aug 13, 2025 - Sep 11, 2025	-4.16% Jul 14, 2025 - Jul 16, 2025
#5	-1.54% Jul 14, 2025 - Aug 11, 2025	N/A
#6	-1.25% Jun 16, 2025 - Jun 25, 2025	N/A
#7	-1.02% Jun 11, 2025 - Jun 16, 2025	N/A
#8	-0.62% May 2, 2025 - May 7, 2025	N/A
#9	-0.61% Apr 9, 2025 - Apr 11, 2025	N/A
#10	-0.45% Jun 30, 2025 - Jul 2, 2025	N/A
#11	-0.37% May 22, 2025 - May 27, 2025	N/A
#12	-0.24% May 13, 2025 - May 16, 2025	N/A
#13	-0.23% Sep 12, 2025 - Sep 16, 2025	N/A
#14	-0.22% May 9, 2025 - May 13, 2025	N/A
#15	-0.20% Apr 29, 2025 - May 1, 2025	N/A