CBXY vs MAKX

Comparison between Calamos Bitcoin 90 Series Structured Alt Protection ETF July (CBXY, ETF) and PROSHARES S&P KENSHO SMART FACTORIES ETF (MAKX, ETF).

CBXY vs MAKX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CBXY(ETF)	MAKX(ETF)
Net Assets	$5.50M	$5.60M
Expense Ratio	0.69%	0.58%
Max Drawdown	17.55%	40.39%
Sharpe Ratio	-1.62	0.95
5Y Beta	0.26	1.45
P/E Ratio	N/A	60.46
Forward P/E	N/A	23.48
PEG Ratio	N/A	0.98
5Y EPS CAGR	N/A	7.41%
Debt to Equity	N/A	32.85%
P/S Ratio	N/A	0.01
P/B Ratio	N/A	3.15

Net Assets

CBXY

$5.50M

Winner

MAKX

$5.60M

Expense Ratio

CBXY

0.69%

Winner

MAKX

0.58%

Max Drawdown

Winner

CBXY

17.55%

MAKX

40.39%

Sharpe Ratio

CBXY

-1.62

Winner

MAKX

0.95

5Y Beta

Winner

CBXY

0.26

MAKX

1.45

P/E Ratio

CBXY

N/A

MAKX

60.46

Forward P/E

CBXY

N/A

MAKX

23.48

PEG Ratio

CBXY

N/A

MAKX

0.98

5Y EPS CAGR

CBXY

N/A

MAKX

7.41%

Debt to Equity

CBXY

N/A

MAKX

32.85%

P/S Ratio

CBXY

N/A

MAKX

0.01

P/B Ratio

CBXY

N/A

MAKX

3.15

CBXY vs MAKX - Historical Returns

Returns include dividend reinvestment.

Period	CBXY	MAKX
1 month	+1.31%	-8.78%
3 months	+1.25%	+9.27%
6 months	-4.16%	+19.18%
1 year	-11.45%	+34.98%
5 years(CAGR)	N/A	+11.59%
Max(CAGR)	-9.30%	+11.59%

Winner

CBXY

+1.31%

MAKX

-8.78%

CBXY

+1.25%

Winner

MAKX

+9.27%

CBXY

-4.16%

Winner

MAKX

+19.18%

CBXY

-11.45%

Winner

MAKX

+34.98%

5Y(CAGR)

CBXY

N/A

MAKX

+11.59%

Max(CAGR)

CBXY

-9.30%

Winner

MAKX

+11.59%

CBXY vs MAKX - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	CBXY	MAKX
2026	-4.45%	+30.42%
2025	-6.16%	+21.91%
2024	N/A	+11.14%
2023	N/A	+25.80%
2022	N/A	-26.81%
2021	N/A	+3.91%

CBXY vs MAKX Drawdown Comparison

The maximum drawdown for CBXY was -16.43%, occurring on Jul 8, 2026. This drawdown has not yet recovered.

The maximum drawdown for MAKX was -40.27%, occurring on Oct 14, 2022. Recovery took 908 trading sessions.

The current CBXY drawdown is -14.34%. The current MAKX drawdown is -10.85%.

Rank	CBXY	MAKX
#1	-16.43% Oct 6, 2025 - Jul 8, 2026	-40.27% Nov 8, 2021 - Jun 24, 2025
#2	-3.53% Aug 13, 2025 - Oct 2, 2025	-16.05% Oct 27, 2025 - Jan 22, 2026
#3	-1.67% Jul 14, 2025 - Aug 11, 2025	-14.80% Jun 2, 2026 - Jul 20, 2026
#4	-0.10% Aug 11, 2025 - Aug 13, 2025	-13.57% Feb 13, 2026 - Apr 13, 2026
#5	N/A	-7.92% Oct 6, 2025 - Oct 15, 2025
#6	N/A	-7.02% Jan 22, 2026 - Feb 13, 2026
#7	N/A	-6.80% May 14, 2026 - May 22, 2026
#8	N/A	-5.51% Jul 18, 2025 - Aug 12, 2025
#9	N/A	-5.36% Aug 13, 2025 - Sep 18, 2025
#10	N/A	-4.68% Sep 22, 2025 - Oct 6, 2025
#11	N/A	-3.99% Oct 15, 2025 - Oct 24, 2025
#12	N/A	-2.83% May 6, 2026 - May 13, 2026
#13	N/A	-2.29% Oct 1, 2021 - Oct 7, 2021
#14	N/A	-2.01% May 26, 2026 - Jun 1, 2026
#15	N/A	-1.92% Oct 25, 2021 - Oct 29, 2021

Correlation

Correlation between CBXY and MAKX is -0.63 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.63

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