SPUT vs CBXJ

Comparison between Innovator Equity Premium Income Daily PutWrite ETF (SPUT, ETF) and Calamos Bitcoin 90 Series Structured Alt Protection ETF January (CBXJ, ETF).

SPUT vs CBXJ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPUT(ETF)	CBXJ(ETF)
Net Assets	$17M	$17M
Expense Ratio	0.79%	0.69%
Max Drawdown	10.75%	31.45%
Sharpe Ratio	1.15	-1.51
5Y Beta	0.56	0.32

Net Assets

SPUT

$17M

Winner

CBXJ

$17M

Expense Ratio

SPUT

0.79%

Winner

CBXJ

0.69%

Max Drawdown

Winner

SPUT

10.75%

CBXJ

31.45%

Sharpe Ratio

Winner

SPUT

1.15

CBXJ

-1.51

5Y Beta

SPUT

0.56

Winner

CBXJ

0.32

SPUT vs CBXJ - Historical Returns

Returns include dividend reinvestment.

Period	SPUT	CBXJ
1 month	+2.19%	+6.90%
3 months	+0.98%	+0.73%
6 months	+7.29%	+2.95%
1 year	+13.60%	-19.45%
Max(CAGR)	+14.84%	-8.24%

SPUT

+2.19%

Winner

CBXJ

+6.90%

Winner

SPUT

+0.98%

CBXJ

+0.73%

Winner

SPUT

+7.29%

CBXJ

+2.95%

Winner

SPUT

+13.60%

CBXJ

-19.45%

Max(CAGR)

Winner

SPUT

+14.84%

CBXJ

-8.24%

SPUT vs CBXJ - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

Year	SPUT	CBXJ
2026	+8.08%	-6.51%
2025	+13.20%	-7.62%

SPUT vs CBXJ Drawdown Comparison

The maximum drawdown for SPUT was -10.55%, occurring on Apr 4, 2025. Recovery took 36 trading sessions.

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

The current SPUT drawdown is -0.64%. The current CBXJ drawdown is -24.12%.

Rank	SPUT	CBXJ
#1	-10.55% Mar 25, 2025 - May 15, 2025	-30.14% Oct 6, 2025 - Jun 30, 2026
#2	-3.81% Jan 12, 2026 - Apr 13, 2026	-5.34% Feb 20, 2025 - May 1, 2025
#3	-3.46% Jun 2, 2026 - Aug 4, 2026	-4.80% Aug 13, 2025 - Oct 2, 2025
#4	-2.21% Nov 12, 2025 - Nov 28, 2025	-2.66% Jul 14, 2025 - Aug 12, 2025
#5	-2.06% Oct 8, 2025 - Oct 24, 2025	-2.59% May 22, 2025 - Jun 10, 2025
#6	-1.39% Jul 28, 2025 - Aug 12, 2025	-1.98% Jun 10, 2025 - Jun 26, 2025
#7	-1.18% May 16, 2025 - May 27, 2025	-1.24% Feb 10, 2025 - Feb 20, 2025
#8	-1.17% Dec 11, 2025 - Dec 22, 2025	-0.90% Jun 26, 2025 - Jul 2, 2025
#9	-1.05% Oct 28, 2025 - Nov 12, 2025	-0.83% May 1, 2025 - May 8, 2025
#10	-0.91% Aug 13, 2026 - Aug 20, 2026	-0.52% Feb 5, 2025 - Feb 10, 2025
#11	-0.83% May 14, 2026 - May 22, 2026	-0.41% Jul 3, 2025 - Jul 9, 2025
#12	-0.79% Dec 24, 2025 - Jan 9, 2026	-0.37% May 9, 2025 - May 13, 2025
#13	-0.72% Aug 14, 2025 - Aug 22, 2025	-0.23% May 13, 2025 - May 16, 2025
#14	-0.72% Sep 22, 2025 - Oct 1, 2025	N/A
#15	-0.68% Aug 28, 2025 - Sep 4, 2025	N/A

Correlation

Correlation between SPUT and CBXJ is -0.65 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.65

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