APRB vs. CBOL

Last updated Aug 1, 2026

APRB (Aptus April Buffer ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both Defined Outcome funds. Both are actively managed. Their 0.47 correlation means their historical movements had little consistent relationship. APRB charges 0.25%/yr vs 0.79%/yr for CBOL.

Performance

APRB vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus April Buffer ETF (APRB) and Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRB achieves a 5.78% return, which is significantly higher than CBOL's -1.94% return.

APRB

• 1D: 0.30%
• 1M: 0.71%
• 6M: 4.72%
• YTD: 5.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CBOL

• 1D: -0.23%
• 1M: 0.17%
• 6M: -1.71%
• YTD: -1.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APRB Aptus April Buffer ETF	$24.58K	$46.66K	$43.31K
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	$64.22K	$31.00K	$17.40K

APRB vs. CBOL - Yearly Performance Comparison

	2026 (YTD)	2025
APRB Aptus April Buffer ETF	5.78%	2.48%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-1.94%	-2.04%

Correlation

The correlation between APRB and CBOL is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.47

Return for Risk

APRB vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus April Buffer ETF (APRB) and Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

APRB vs. CBOL - Drawdown Comparison

The maximum APRB drawdown since its inception was -4.59%, smaller than the maximum CBOL drawdown of -5.05%. Use the drawdown chart below to compare losses from any high point for APRB and CBOL.

Drawdown Indicators

	APRB	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-4.59%	-5.05%	+0.46%
Current Drawdown Current decline from peak	0.00%	-4.56%	+4.56%
Average Drawdown Average peak-to-trough decline	-0.65%	-3.48%	+2.83%

Volatility

Volatility by Period

	APRB	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.72%	3.65%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.72%	3.65%	+2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.72%	3.65%	+2.07%

APRB vs. CBOL - Expense Ratio Comparison

APRB has a 0.25% expense ratio, which is lower than CBOL's 0.79% expense ratio.

Dividends

APRB vs. CBOL - Dividend Comparison

APRB has not paid dividends to shareholders, while CBOL's dividend yield for the trailing twelve months is around 1.83%.

Position	TTM	2025
APRB Aptus April Buffer ETF	0.00%	0.00%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.83%	1.79%

Frequently Asked Questions

Can I hold both APRB and CBOL in my portfolio?

APRB and CBOL have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, APRB or CBOL?

On fees, APRB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APRB or CBOL?

APRB is cheaper with a 0.25% expense ratio, compared with 0.79% for CBOL.

Which ETF pays a higher dividend yield, APRB or CBOL?

CBOL has the higher dividend yield at 1.83%, compared with 0.00% for APRB.

What is the main difference between APRB and CBOL?

They also come from different issuers: Aptus and Calamos. Their fees differ too: 0.25% for APRB and 0.79% for CBOL.