SEPP vs CBTJ

Comparison between PGIM S&P 500 BUFFER 12 ETF - SEPTEMBER (SEPP, ETF) and Calamos Bitcoin 80 Series Structured Alt Protection ETF January (CBTJ, ETF).

SEPP vs CBTJ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SEPP(ETF)	CBTJ(ETF)
Net Assets	$22M	$22M
Expense Ratio	0.50%	0.69%
Max Drawdown	11.75%	41.78%
Sharpe Ratio	1.76	-1.46
5Y Beta	0.54	0.54

Net Assets

SEPP

$22M

CBTJ

$22M

Expense Ratio

Winner

SEPP

0.50%

CBTJ

0.69%

Max Drawdown

Winner

SEPP

11.75%

CBTJ

41.78%

Sharpe Ratio

Winner

SEPP

1.76

CBTJ

-1.46

5Y Beta

Winner

SEPP

0.54

CBTJ

0.54

SEPP vs CBTJ - Historical Returns

Returns include dividend reinvestment.

Period	SEPP	CBTJ
1 month	+0.69%	-12.31%
3 months	+6.45%	-6.39%
6 months	+6.04%	-21.47%
1 year	+16.48%	-32.00%
Max(CAGR)	+12.81%	-20.97%

Winner

SEPP

+0.69%

CBTJ

-12.31%

Winner

SEPP

+6.45%

CBTJ

-6.39%

Winner

SEPP

+6.04%

CBTJ

-21.47%

Winner

SEPP

+16.48%

CBTJ

-32.00%

Max(CAGR)

Winner

SEPP

+12.81%

CBTJ

-20.97%

SEPP vs CBTJ - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	SEPP	CBTJ
2026	+5.32%	-19.99%
2025	+14.09%	-11.30%
2024	+6.79%	N/A

SEPP vs CBTJ Drawdown Comparison

The maximum drawdown for SEPP was -11.75%, occurring on Apr 8, 2025. Recovery took 77 trading sessions.

The maximum drawdown for CBTJ was -40.97%, occurring on Jun 5, 2026. This drawdown has not yet recovered.

The current SEPP drawdown is -0.40%. The current CBTJ drawdown is -40.10%.

Rank	SEPP	CBTJ
#1	-11.75% Feb 19, 2025 - Jun 10, 2025	-40.97% Oct 6, 2025 - Jun 5, 2026
#2	-4.74% Feb 25, 2026 - Apr 13, 2026	-9.86% Feb 20, 2025 - May 8, 2025
#3	-2.60% Aug 30, 2024 - Sep 16, 2024	-7.63% Aug 13, 2025 - Oct 2, 2025
#4	-2.48% Jul 16, 2024 - Aug 15, 2024	-4.26% May 22, 2025 - Jun 10, 2025
#5	-2.46% Oct 27, 2025 - Dec 2, 2025	-3.86% Jul 14, 2025 - Aug 12, 2025
#6	-1.85% Dec 4, 2024 - Jan 21, 2025	-3.35% Jun 10, 2025 - Jul 2, 2025
#7	-1.65% Oct 8, 2025 - Oct 20, 2025	-1.92% Feb 10, 2025 - Feb 20, 2025
#8	-1.51% Feb 9, 2026 - Feb 25, 2026	-0.82% Feb 5, 2025 - Feb 10, 2025
#9	-1.33% Feb 2, 2026 - Feb 9, 2026	-0.75% May 13, 2025 - May 19, 2025
#10	-1.31% Oct 18, 2024 - Nov 6, 2024	-0.66% Jul 2, 2025 - Jul 9, 2025
#11	-1.28% Jul 28, 2025 - Aug 8, 2025	-0.59% May 9, 2025 - May 13, 2025
#12	-1.27% Jun 4, 2026 - Jun 10, 2026	N/A
#13	-1.25% Jan 12, 2026 - Jan 27, 2026	N/A
#14	-1.20% Nov 8, 2024 - Nov 25, 2024	N/A
#15	-1.12% Dec 11, 2025 - Dec 22, 2025	N/A

Correlation

Correlation between SEPP and CBTJ is -0.53 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.53

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