ARKD vs. CBOL

Last updated Jun 5, 2026

ARKD (ARK 21Shares Digital Asset and Blockchain Strategy ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - ARKD is a Cryptocurrency fund actively managed by ARK, while CBOL is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. ARKD charges 0.90%/yr vs 0.79%/yr for CBOL.

Performance

ARKD vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK 21Shares Digital Asset and Blockchain Strategy ETF (ARKD) 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

ARKD

• 1D: 1.76%
• 1M: 2.65%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOL

• 1D: -0.08%
• 1M: -0.97%
• YTD: -2.11%
• 6M: -2.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARKD vs. CBOL - Yearly Performance Comparison

	2026 (YTD)
ARKD ARK 21Shares Digital Asset and Blockchain Strategy ETF	-0.32%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.34%

Correlation

The correlation between ARKD and CBOL is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 5, 2026	0.58

Return for Risk

ARKD vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK 21Shares Digital Asset and Blockchain Strategy ETF (ARKD) 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.

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

Sharpe Ratios by Period

	ARKD	CBOL	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	-1.83	+1.79

Drawdowns

ARKD vs. CBOL - Drawdown Comparison

The maximum ARKD drawdown since its inception was -14.03%, which is greater than CBOL's maximum drawdown of -4.91%. Use the drawdown chart below to compare losses from any high point for ARKD and CBOL.

Drawdown Indicators

	ARKD	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-14.03%	-4.91%	-9.12%
Current Drawdown Current decline from peak	-2.83%	-4.72%	+1.89%
Average Drawdown Average peak-to-trough decline	-6.18%	-3.22%	-2.96%

Volatility

Volatility by Period

	ARKD	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	3.87%	+16.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	3.87%	+16.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.90%	3.87%	+16.03%

ARKD vs. CBOL - Expense Ratio Comparison

ARKD has a 0.90% expense ratio, which is higher than CBOL's 0.79% expense ratio.

Dividends

ARKD vs. CBOL - Dividend Comparison

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

Position	TTM	2025
ARKD ARK 21Shares Digital Asset and Blockchain Strategy 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 ARKD and CBOL in my portfolio?

ARKD and CBOL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ARKD or CBOL?

On fees, CBOL is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARKD or CBOL?

CBOL is cheaper with a 0.79% expense ratio, compared with 0.90% for ARKD.

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

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

What is the main difference between ARKD and CBOL?

ARKD is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: ARK and Calamos. Their fees differ too: 0.90% for ARKD and 0.79% for CBOL.