BITC vs. CBOO
BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - BITC is a Cryptocurrency fund actively managed by Bitwise, while CBOO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. Their 0.41 correlation means their historical movements had little consistent relationship. BITC charges 0.88%/yr vs 0.69%/yr for CBOO.
Performance
BITC vs. CBOO - Performance Comparison
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Returns By Period
In the year-to-date period, BITC achieves a -1.76% return, which is significantly lower than CBOO's 0.35% return.
BITC
- 1D
- -2.97%
- 1M
- -1.31%
- 6M
- -1.00%
- YTD
- -1.76%
- 1Y
- -24.54%
- 3Y*
- 29.84%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.54%
CBOO
- 1D
- 0.00%
- 1M
- 0.18%
- 6M
- 0.35%
- YTD
- 0.35%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.18K | $64.98K | $91.15K | |
| $51.16K | $27.46K | $21.93K |
BITC vs. CBOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | -1.76% | -19.74% |
CBOO Calamos Bitcoin Structured Alt Protection ETF - October | 0.35% | -1.66% |
Correlation
The correlation between BITC and CBOO is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 7, 2025 | 0.41 |
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Return for Risk
BITC vs. CBOO — Risk / Return Rank
BITC
CBOO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BITC vs. CBOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) 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.
| BITC | CBOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.80 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | — | — |
| Martin ratioReturn relative to average drawdown | -1.19 | — | — |
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Drawdowns
BITC vs. CBOO - Drawdown Comparison
The maximum BITC drawdown since its inception was -38.51%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for BITC and CBOO.
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Drawdown Indicators
| BITC | CBOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.51% | -2.34% | -36.17% |
Max Drawdown (1Y)Largest decline over 1 year | -27.89% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -38.51% | — | — |
Current DrawdownCurrent decline from peak | -32.48% | -1.34% | -31.14% |
Average DrawdownAverage peak-to-trough decline | -16.98% | -1.58% | -15.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.72% | — | — |
Volatility
BITC vs. CBOO - Volatility Comparison
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Volatility by Period
| BITC | CBOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.07% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.11% | 1.95% | +23.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.81% | 1.95% | +43.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.81% | 1.95% | +43.86% |
BITC vs. CBOO - Expense Ratio Comparison
BITC has a 0.88% expense ratio, which is higher than CBOO's 0.69% expense ratio.
Dividends
BITC vs. CBOO - Dividend Comparison
BITC's dividend yield for the trailing twelve months is around 3.42%, more than CBOO's 0.57% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.42% | 3.36% | 42.68% | 5.82% |
CBOO Calamos Bitcoin Structured Alt Protection ETF - October | 0.57% | 0.57% | 0.00% | 0.00% |
Frequently Asked Questions
BITC and CBOO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CBOO is cheaper with a 0.69% expense ratio, compared with 0.88% for BITC.
BITC has the higher dividend yield at 3.42%, compared with 0.57% for CBOO.
BITC is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: Bitwise and Calamos. Their fees differ too: 0.88% for BITC and 0.69% for CBOO.
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