MSTP vs CBXA

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

MSTP vs CBXA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

MSTP

$5.20M

CBXA

$5.20M

Expense Ratio

MSTP

N/A

CBXA

0.69%

Max Drawdown

MSTP

98.40%

Winner

CBXA

31.01%

Sharpe Ratio

MSTP

-1.71

Winner

CBXA

-1.67

5Y Beta

MSTP

5.81

Winner

CBXA

0.38

MSTP vs CBXA - Historical Returns

Returns include dividend reinvestment.

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

MSTP

-19.49%

Winner

CBXA

+1.02%

MSTP

-68.77%

Winner

CBXA

-3.11%

MSTP

-75.61%

Winner

CBXA

-21.46%

MSTP

-97.32%

Winner

CBXA

-24.39%

Max(CAGR)

MSTP

-95.72%

Winner

CBXA

-9.19%

MSTP vs CBXA - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

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

MSTP vs CBXA Drawdown Comparison

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

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

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

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