BLOX vs. CBOO

Last updated Jun 4, 2026

BLOX (Nicholas Crypto Income ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - BLOX is a Cryptocurrency fund actively managed by Nicholas, while CBOO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. BLOX charges 1.03%/yr vs 0.69%/yr for CBOO.

Performance

BLOX vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Crypto Income ETF (BLOX) 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, BLOX achieves a 16.52% return, which is significantly higher than CBOO's -0.04% return.

BLOX

• 1D: -2.56%
• 1M: 10.59%
• YTD: 16.52%
• 6M: 5.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOO

• 1D: -0.04%
• 1M: -0.00%
• YTD: -0.04%
• 6M: -0.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BLOX vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
BLOX Nicholas Crypto Income ETF	16.52%	-28.59%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.04%	-1.62%

Correlation

The correlation between BLOX and CBOO 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 Oct 8, 2025	0.58

Return for Risk

BLOX vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) 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.

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

Sharpe Ratios by Period

	BLOX	CBOO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	-1.19	+1.73

Drawdowns

BLOX vs. CBOO - Drawdown Comparison

The maximum BLOX drawdown since its inception was -47.09%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for BLOX and CBOO.

Drawdown Indicators

	BLOX	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-2.34%	-44.75%
Current Drawdown Current decline from peak	-19.45%	-1.72%	-17.73%
Average Drawdown Average peak-to-trough decline	-18.53%	-1.61%	-16.92%

Volatility

Volatility by Period

	BLOX	CBOO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	53.44%	2.14%	+51.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.44%	2.14%	+51.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.44%	2.14%	+51.30%

BLOX vs. CBOO - Expense Ratio Comparison

BLOX has a 1.03% expense ratio, which is higher than CBOO's 0.69% expense ratio.

Dividends

BLOX vs. CBOO - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 36.81%, more than CBOO's 0.57% yield.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	36.81%	22.69%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%

Frequently Asked Questions

Can I hold both BLOX and CBOO in my portfolio?

BLOX and CBOO 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, BLOX 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, BLOX or CBOO?

CBOO is cheaper with a 0.69% expense ratio, compared with 1.03% for BLOX.

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

BLOX has the higher dividend yield at 36.81%, compared with 0.57% for CBOO.

What is the main difference between BLOX and CBOO?

BLOX is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: Nicholas and Calamos. Their fees differ too: 1.03% for BLOX and 0.69% for CBOO.