BETH vs. CBOO

Last updated Jun 24, 2026

BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - BETH is a Cryptocurrency fund actively managed by ProShares, while CBOO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.72 correlation means they provide meaningful diversification when combined. BETH charges 0.95%/yr vs 0.69%/yr for CBOO.

Performance

BETH vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and Calamos Bitcoin Structured Alt Protection ETF - October (CBOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETH achieves a -32.64% return, which is significantly lower than CBOO's 0.10% return.

BETH

• 1D: -3.37%
• 1M: -18.22%
• YTD: -32.64%
• 6M: -32.87%
• 1Y: -40.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOO

• 1D: 0.04%
• 1M: 0.16%
• YTD: 0.10%
• 6M: 0.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETH vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-32.64%	-32.42%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.10%	-1.66%

Correlation

The correlation between BETH and CBOO is 0.72, 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 Oct 7, 2025	0.72

Return for Risk

BETH vs. CBOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BETH

BETH Risk / Return Rank: 3
BETH Sharpe Ratio Rank: 2
BETH Sortino Ratio Rank: 3
BETH Omega Ratio Rank: 3
BETH Calmar Ratio Rank: 3
BETH Martin Ratio Rank: 3

CBOO

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BETH vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and Calamos Bitcoin Structured Alt Protection ETF - October (CBOO). 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.

	BETH	CBOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	—	—
Sortino ratio: Return per unit of downside risk	-1.18	—	—
Omega ratio: Gain probability vs. loss probability	0.87	—	—
Calmar ratio: Return relative to maximum drawdown	-0.73	—	—
Martin ratio: Return relative to average drawdown	-1.24	—	—

Drawdowns

BETH vs. CBOO - Drawdown Comparison

The maximum BETH drawdown since its inception was -56.03%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for BETH and CBOO.

Drawdown Indicators

	BETH	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-56.03%	-2.34%	-53.69%
Max Drawdown (1Y) Largest decline over 1 year	-56.03%	—	—
Current Drawdown Current decline from peak	-54.48%	-1.58%	-52.90%
Average Drawdown Average peak-to-trough decline	-18.31%	-1.60%	-16.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.01%	—	—

Volatility

Volatility by Period

	BETH	CBOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	47.49%	2.07%	+45.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.18%	2.07%	+49.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.18%	2.07%	+49.11%

BETH vs. CBOO - Expense Ratio Comparison

BETH has a 0.95% expense ratio, which is higher than CBOO's 0.69% expense ratio.

Dividends

BETH vs. CBOO - Dividend Comparison

BETH's dividend yield for the trailing twelve months is around 60.67%, more than CBOO's 0.57% yield.

Position	TTM	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	60.67%	57.68%	19.71%	0.36%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BETH and CBOO in my portfolio?

BETH and CBOO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BETH or CBOO?

On fees, CBOO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BETH or CBOO?

CBOO is cheaper with a 0.69% expense ratio, compared with 0.95% for BETH.

Which ETF pays a higher dividend yield, BETH or CBOO?

BETH has the higher dividend yield at 60.67%, compared with 0.57% for CBOO.

What is the main difference between BETH and CBOO?

BETH is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: ProShares and Calamos. Their fees differ too: 0.95% for BETH and 0.69% for CBOO.