MFLX vs CBXJ

Comparison between FIRST TRUST FLEXIBLE MUNICIPAL HIGH INCOME ETF (MFLX, ETF) and Calamos Bitcoin 90 Series Structured Alt Protection ETF January (CBXJ, ETF).

MFLX vs CBXJ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MFLX(ETF)	CBXJ(ETF)
Net Assets	$20M	$20M
Expense Ratio	0.75%	0.69%
Max Drawdown	29.72%	31.45%
Sharpe Ratio	1.40	-1.79
5Y Beta	-0.05	0.33
5Y Dividends CAGR	0.95%	N/A

Net Assets

MFLX

$20M

CBXJ

$20M

Expense Ratio

MFLX

0.75%

Winner

CBXJ

0.69%

Max Drawdown

Winner

MFLX

29.72%

CBXJ

31.45%

Sharpe Ratio

Winner

MFLX

1.40

CBXJ

-1.79

5Y Beta

Winner

MFLX

-0.05

CBXJ

0.33

5Y Dividends CAGR

MFLX

0.95%

CBXJ

N/A

MFLX vs CBXJ - Historical Returns

Returns include dividend reinvestment.

Period	MFLX	CBXJ
1 month	-0.48%	+0.49%
3 months	+1.22%	-4.65%
6 months	+3.07%	-10.02%
1 year	+9.31%	-24.77%
5 years(CAGR)	-0.34%	N/A
10 years(CAGR)	+2.13%	N/A
Max(CAGR)	+2.13%	-12.22%

MFLX

-0.48%

Winner

CBXJ

+0.49%

Winner

MFLX

+1.22%

CBXJ

-4.65%

Winner

MFLX

+3.07%

CBXJ

-10.02%

Winner

MFLX

+9.31%

CBXJ

-24.77%

5Y(CAGR)

MFLX

-0.34%

CBXJ

N/A

10Y(CAGR)

MFLX

+2.13%

CBXJ

N/A

Max(CAGR)

Winner

MFLX

+2.13%

CBXJ

-12.22%

MFLX vs CBXJ - Annual Returns (2016 - 2026)

Returns include dividend reinvestment.

Year	MFLX	CBXJ
2026	+3.34%	-11.63%
2025	+4.12%	-7.62%
2024	+4.73%	N/A
2023	+8.91%	N/A
2022	-19.65%	N/A
2021	+8.96%	N/A
2020	+7.00%	N/A
2019	+15.75%	N/A
2018	-4.71%	N/A
2017	+5.57%	N/A
2016	-7.63%	N/A

MFLX vs CBXJ Drawdown Comparison

The maximum drawdown for MFLX was -26.76%, occurring on Mar 18, 2020. Recovery took 193 trading sessions.

The maximum drawdown for CBXJ was -30.14%, occurring on Jun 30, 2026. This drawdown has not yet recovered.

The current MFLX drawdown is -3.65%. The current CBXJ drawdown is -28.27%.

Rank	MFLX	CBXJ
#1	-26.76% Feb 24, 2020 - Nov 25, 2020	-30.14% Oct 6, 2025 - Jun 30, 2026
#2	-25.88% Aug 24, 2021 - Oct 27, 2022	-5.34% Feb 20, 2025 - May 1, 2025
#3	-10.10% Sep 29, 2016 - Mar 26, 2019	-4.80% Aug 13, 2025 - Oct 2, 2025
#4	-4.45% Feb 11, 2021 - Apr 14, 2021	-2.66% Jul 14, 2025 - Aug 12, 2025
#5	-3.82% Sep 4, 2019 - Dec 11, 2019	-2.59% May 22, 2025 - Jun 10, 2025
#6	-1.54% Jul 12, 2021 - Jul 28, 2021	-1.98% Jun 10, 2025 - Jun 26, 2025
#7	-1.42% May 10, 2021 - May 26, 2021	-1.24% Feb 10, 2025 - Feb 20, 2025
#8	-1.05% Dec 11, 2020 - Dec 31, 2020	-0.90% Jun 26, 2025 - Jul 2, 2025
#9	-0.81% Apr 15, 2019 - May 2, 2019	-0.83% May 1, 2025 - May 8, 2025
#10	-0.73% Dec 31, 2020 - Jan 19, 2021	-0.52% Feb 5, 2025 - Feb 10, 2025
#11	-0.71% Dec 26, 2019 - Jan 7, 2020	-0.41% Jul 3, 2025 - Jul 9, 2025
#12	-0.69% Jun 10, 2021 - Jun 28, 2021	-0.37% May 9, 2025 - May 13, 2025
#13	-0.69% Dec 11, 2019 - Dec 26, 2019	-0.23% May 13, 2025 - May 16, 2025
#14	-0.67% Aug 4, 2021 - Aug 10, 2021	N/A
#15	-0.62% Aug 20, 2019 - Aug 28, 2019	N/A

Correlation

Correlation between MFLX and CBXJ is -0.80 which considered as a strong negative correlation - the stocks tend to move in opposite directions.

-0.80

-101

Dividend Comparison (2016 - 2026)

MFLX vs CBXJ dividend yield comparison.

Year	MFLX	CBXJ
2026	2.47%	0.00%
2025	4.06%	1.97%
2024	3.81%	0.00%
2023	3.65%	0.00%
2022	4.27%	0.00%
2021	3.69%	0.00%
2020	3.21%	0.00%
2019	2.94%	0.00%
2018	3.74%	0.00%
2017	3.80%	0.00%
2016	0.98%	0.00%