CBXJ vs QQQ
Calamos Bitcoin 90 Series Structured Alt Protection ETF - January vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | CBXJ | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.18% | |
| AUM | $17M | $496.3B | |
| Dividend Yield | 2.21% | 0.44% | |
| Holdings | 7 | 108 | |
| YTD Return | -7.37% | +16.64% | |
| 1Y Return | -20.69% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 16.1% | 30.6% | |
| Max Drawdown | -30.2% | -83.0% | |
| Fund Family | Calamos Investments | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Feb 4, 2025 | Mar 10, 1999 |
CBXJ vs QQQ Performance
Calamos Bitcoin 90 Series Structured Alt Protection ETF - January (CBXJ) is a ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CBXJ returned -20.69% while QQQ returned +27.27%. Year to date, CBXJ is down 7.37% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 16.1% for CBXJ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -30.2% for CBXJ and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.38. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CBXJ charges 0.69% per year while QQQ charges 0.18%. On a $10,000 position that is $69 vs $18 annually, a gap of $51 per year that compounds over a long holding period. On income, CBXJ currently yields 2.21% against 0.44% for QQQ.
Frequently Asked Questions
Which is cheaper, CBXJ or QQQ?
CBXJ has an expense ratio of 0.69% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, CBXJ or QQQ?
Over the past year CBXJ returned -20.69% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), CBXJ annualized -8.85% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, CBXJ or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 16.1% for CBXJ. Worst drawdown: CBXJ -30.2% vs QQQ -83.0%.
Should I hold both CBXJ and QQQ?
CBXJ and QQQ have a monthly-return correlation of 0.38, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CBXJ or QQQ?
CBXJ yields 2.21% while QQQ yields 0.44%, so CBXJ currently pays the higher dividend yield.
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