CBXJ vs KONG

Comparison between Calamos Bitcoin 90 Series Structured Alt Protection ETF January (CBXJ, ETF) and FORMIDABLE FORTRESS ETF (KONG, ETF).

CBXJ vs KONG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBXJ(ETF)	KONG(ETF)
Net Assets	$22M	$22M
Expense Ratio	0.69%	0.89%
Max Drawdown	30.55%	20.08%
Sharpe Ratio	-1.46	0.28
5Y Beta	0.34	0.65
P/E Ratio	N/A	25.99
Forward P/E	N/A	21.95
PEG Ratio	N/A	0.85
5Y EPS CAGR	N/A	24.27%
Debt to Equity	N/A	21.04%
P/S Ratio	N/A	4.98
P/B Ratio	N/A	5.46

Net Assets

CBXJ

$22M

KONG

$22M

Expense Ratio

Winner

CBXJ

0.69%

KONG

0.89%

Max Drawdown

CBXJ

30.55%

Winner

KONG

20.08%

Sharpe Ratio

CBXJ

-1.46

Winner

KONG

0.28

5Y Beta

Winner

CBXJ

0.34

KONG

0.65

P/E Ratio

CBXJ

N/A

KONG

25.99

Forward P/E

CBXJ

N/A

KONG

21.95

PEG Ratio

CBXJ

N/A

KONG

0.85

5Y EPS CAGR

CBXJ

N/A

KONG

24.27%

Debt to Equity

CBXJ

N/A

KONG

21.04%

P/S Ratio

CBXJ

N/A

KONG

4.98

P/B Ratio

CBXJ

N/A

KONG

5.46

CBXJ vs KONG - Historical Returns

Returns include dividend reinvestment.

Period	CBXJ	KONG
1 month	-8.60%	+0.62%
3 months	-4.62%	+0.17%
6 months	-14.68%	+1.79%
1 year	-20.62%	+6.34%
5 years(CAGR)	N/A	+5.07%
Max(CAGR)	-14.16%	+5.07%

CBXJ

-8.60%

Winner

KONG

+0.62%

CBXJ

-4.62%

Winner

KONG

+0.17%

CBXJ

-14.68%

Winner

KONG

+1.79%

CBXJ

-20.62%

Winner

KONG

+6.34%

5Y(CAGR)

CBXJ

N/A

KONG

+5.07%

Max(CAGR)

CBXJ

-14.16%

Winner

KONG

+5.07%

CBXJ vs KONG - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	CBXJ	KONG
2026	-12.81%	+1.98%
2025	-7.62%	+6.68%
2024	N/A	+9.46%
2023	N/A	+12.77%
2022	N/A	-8.62%
2021	N/A	+5.07%

CBXJ vs KONG Drawdown Comparison

The maximum drawdown for CBXJ was -29.22%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The maximum drawdown for KONG was -19.98%, occurring on Jun 16, 2022. Recovery took 645 trading sessions.

The current CBXJ drawdown is -29.22%. The current KONG drawdown is -1.77%.

Rank	CBXJ	KONG
#1	-29.22% Oct 6, 2025 - Jun 5, 2026	-19.98% Jul 30, 2021 - Feb 23, 2024
#2	-5.34% Feb 20, 2025 - May 1, 2025	-15.48% Nov 26, 2024 - Dec 11, 2025
#3	-4.80% Aug 13, 2025 - Oct 2, 2025	-8.54% Jan 28, 2026 - Jun 1, 2026
#4	-2.66% Jul 14, 2025 - Aug 12, 2025	-6.13% Mar 28, 2024 - Jul 15, 2024
#5	-2.59% May 22, 2025 - Jun 10, 2025	-5.63% Aug 30, 2024 - Sep 16, 2024
#6	-1.98% Jun 10, 2025 - Jun 26, 2025	-3.88% Jul 16, 2024 - Aug 19, 2024
#7	-1.24% Feb 10, 2025 - Feb 20, 2025	-2.96% Nov 11, 2024 - Nov 22, 2024
#8	-0.90% Jun 26, 2025 - Jul 2, 2025	-1.97% Jan 9, 2026 - Jan 22, 2026
#9	-0.83% May 1, 2025 - May 8, 2025	-1.77% Jun 1, 2026 - Jun 5, 2026
#10	-0.52% Feb 5, 2025 - Feb 10, 2025	-1.57% Dec 24, 2025 - Jan 6, 2026
#11	-0.41% Jul 3, 2025 - Jul 9, 2025	-1.44% Oct 15, 2024 - Nov 6, 2024
#12	-0.37% May 9, 2025 - May 13, 2025	-1.01% Dec 11, 2025 - Dec 22, 2025
#13	-0.23% May 13, 2025 - May 16, 2025	-0.95% Mar 21, 2024 - Mar 28, 2024
#14	N/A	-0.90% Aug 19, 2024 - Aug 23, 2024
#15	N/A	-0.86% Sep 24, 2024 - Oct 4, 2024

Correlation

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

-0.37

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