BTGD vs. CBOL
BTGD (STKd 100% Bitcoin & 100% Gold ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - BTGD is a Cryptocurrency fund actively managed by Quantify Funds, while CBOL is a Defined Outcome fund actively managed by Calamos. Both are actively managed. Their correlation of 0.82 means they have usually moved in the same direction. BTGD charges 1.05%/yr vs 0.79%/yr for CBOL.
Performance
BTGD vs. CBOL - Performance Comparison
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Returns By Period
In the year-to-date period, BTGD achieves a -38.50% return, which is significantly lower than CBOL's -1.78% return.
BTGD
- 1D
- 1.37%
- 1M
- 1.91%
- 6M
- -37.24%
- YTD
- -38.50%
- 1Y
- -43.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.87%
CBOL
- 1D
- 0.04%
- 1M
- 0.34%
- 6M
- -0.55%
- YTD
- -1.78%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $428.43K | $383.52K | $1.03M | |
| $23.76K | $29.60K | $17.43K |
BTGD vs. CBOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTGD STKd 100% Bitcoin & 100% Gold ETF | -38.50% | -23.08% |
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | -1.78% | -2.04% |
Correlation
The correlation between BTGD and CBOL is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.82 |
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Return for Risk
BTGD vs. CBOL — Risk / Return Rank
BTGD
CBOL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BTGD vs. CBOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for STKd 100% Bitcoin & 100% Gold ETF (BTGD) 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.
| BTGD | CBOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.89 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | — | — |
| Martin ratioReturn relative to average drawdown | -1.33 | — | — |
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Drawdowns
BTGD vs. CBOL - Drawdown Comparison
The maximum BTGD drawdown since its inception was -58.79%, which is greater than CBOL's maximum drawdown of -5.05%. Use the drawdown chart below to compare losses from any high point for BTGD and CBOL.
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Drawdown Indicators
| BTGD | CBOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.79% | -5.05% | -53.74% |
Max Drawdown (1Y)Largest decline over 1 year | -58.79% | — | — |
Current DrawdownCurrent decline from peak | -54.95% | -4.40% | -50.55% |
Average DrawdownAverage peak-to-trough decline | -18.27% | -3.49% | -14.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.74% | — | — |
Volatility
BTGD vs. CBOL - Volatility Comparison
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Volatility by Period
| BTGD | CBOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.81% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 44.87% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 58.20% | 3.64% | +54.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.65% | 3.64% | +52.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.65% | 3.64% | +52.01% |
BTGD vs. CBOL - Expense Ratio Comparison
BTGD has a 1.05% expense ratio, which is higher than CBOL's 0.79% expense ratio.
Dividends
BTGD vs. CBOL - Dividend Comparison
BTGD's dividend yield for the trailing twelve months is around 5.47%, more than CBOL's 1.82% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTGD STKd 100% Bitcoin & 100% Gold ETF | 5.47% | 3.36% | 0.19% |
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | 1.82% | 1.79% | 0.00% |
Frequently Asked Questions
BTGD and CBOL have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CBOL is cheaper with a 0.79% expense ratio, compared with 1.05% for BTGD.
BTGD has the higher dividend yield at 5.47%, compared with 1.82% for CBOL.
BTGD is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: Quantify Funds and Calamos. Their fees differ too: 1.05% for BTGD and 0.79% for CBOL.
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