CBXO vs DEFI

Comparison between Calamos Bitcoin 90 Series Structured Alt Protection ETF October (CBXO, ETF) and Hashdex Bitcoin ETF (DEFI, ETF).

CBXO vs DEFI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBXO(ETF)	DEFI(ETF)
Net Assets	$9.90M	$10M
Expense Ratio	0.69%	0.25%
Max Drawdown	11.92%	51.95%
Sharpe Ratio	-3.02	-1.10
5Y Beta	0.19	1.26

Net Assets

CBXO

$9.90M

Winner

DEFI

$10M

Expense Ratio

CBXO

0.69%

Winner

DEFI

0.25%

Max Drawdown

Winner

CBXO

11.92%

DEFI

51.95%

Sharpe Ratio

CBXO

-3.02

Winner

DEFI

-1.10

5Y Beta

Winner

CBXO

0.19

DEFI

1.26

CBXO vs DEFI - Historical Returns

Returns include dividend reinvestment.

Period	CBXO	DEFI
1 month	-0.92%	-21.26%
3 months	-0.63%	-9.98%
6 months	-4.52%	-29.40%
1 year	N/A	-40.80%
Max(CAGR)	-16.32%	-3.53%

Winner

CBXO

-0.92%

DEFI

-21.26%

Winner

CBXO

-0.63%

DEFI

-9.98%

Winner

CBXO

-4.52%

DEFI

-29.40%

CBXO

N/A

DEFI

-40.80%

Max(CAGR)

CBXO

-16.32%

Winner

DEFI

-3.53%

CBXO vs DEFI - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	CBXO	DEFI
2026	-4.15%	-29.31%
2025	-8.02%	-10.57%
2024	N/A	+36.09%

CBXO vs DEFI Drawdown Comparison

The maximum drawdown for CBXO was -11.47%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The maximum drawdown for DEFI was -51.95%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The current CBXO drawdown is -11.39%. The current DEFI drawdown is -49.27%.

Rank	CBXO	DEFI
#1	-11.47% Oct 7, 2025 - Jun 5, 2026	-51.95% Oct 6, 2025 - Jun 5, 2026
#2	N/A	-28.47% Dec 17, 2024 - May 21, 2025
#3	N/A	-26.06% Apr 8, 2024 - Oct 29, 2024
#4	N/A	-12.02% Aug 13, 2025 - Oct 6, 2025
#5	N/A	-8.24% Nov 22, 2024 - Dec 6, 2024
#6	N/A	-7.49% May 22, 2025 - Jul 9, 2025
#7	N/A	-7.49% Oct 29, 2024 - Nov 6, 2024
#8	N/A	-7.21% Mar 28, 2024 - Apr 8, 2024
#9	N/A	-5.81% Jul 14, 2025 - Aug 13, 2025
#10	N/A	-4.87% Dec 6, 2024 - Dec 13, 2024
#11	N/A	-2.35% Nov 13, 2024 - Nov 15, 2024