BTRN vs. CBOL
BTRN (Global X Bitcoin Trend Strategy ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - BTRN is a Cryptocurrency fund tracking the CoinDesk Bitcoin Trend Indicator Futures Index, while CBOL is a Defined Outcome fund actively managed by Calamos. BTRN is passively managed, while CBOL is actively managed. Their 0.56 correlation means they have sometimes moved together and sometimes differently. BTRN charges 0.95%/yr vs 0.79%/yr for CBOL.
Performance
BTRN vs. CBOL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BTRN achieves a -10.38% return, which is significantly lower than CBOL's -1.78% return.
BTRN
- 1D
- 0.08%
- 1M
- 0.18%
- 6M
- -9.55%
- YTD
- -10.38%
- 1Y
- -22.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.25%
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) |
|---|---|---|---|
| $6.41K | $4.49K | $41.74K | |
| $23.76K | $29.60K | $17.43K |
BTRN vs. CBOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | -10.38% | -6.93% |
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | -1.78% | -2.04% |
Correlation
The correlation between BTRN and CBOL is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.56 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BTRN vs. CBOL — Risk / Return Rank
BTRN
CBOL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BTRN vs. CBOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Bitcoin Trend Strategy ETF (BTRN) 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.
| BTRN | CBOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.74 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | — | — |
| Martin ratioReturn relative to average drawdown | -1.31 | — | — |
Loading charts...
Drawdowns
BTRN vs. CBOL - Drawdown Comparison
The maximum BTRN drawdown since its inception was -36.97%, which is greater than CBOL's maximum drawdown of -5.05%. Use the drawdown chart below to compare losses from any high point for BTRN and CBOL.
Loading charts...
Drawdown Indicators
| BTRN | CBOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.97% | -5.05% | -31.92% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | — | — |
Current DrawdownCurrent decline from peak | -26.19% | -4.40% | -21.79% |
Average DrawdownAverage peak-to-trough decline | -15.20% | -3.49% | -11.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.20% | — | — |
Volatility
BTRN vs. CBOL - Volatility Comparison
Loading charts...
Volatility by Period
| BTRN | CBOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.62% | 3.64% | +12.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.91% | 3.64% | +26.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.91% | 3.64% | +26.27% |
BTRN vs. CBOL - Expense Ratio Comparison
BTRN has a 0.95% expense ratio, which is higher than CBOL's 0.79% expense ratio.
Dividends
BTRN vs. CBOL - Dividend Comparison
BTRN's dividend yield for the trailing twelve months is around 31.32%, more than CBOL's 1.82% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | 31.32% | 27.76% | 2.56% |
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | 1.82% | 1.79% | 0.00% |
Frequently Asked Questions
BTRN and CBOL have a correlation of 0.56, 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 0.95% for BTRN.
BTRN has the higher dividend yield at 31.32%, compared with 1.82% for CBOL.
BTRN is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: Global X and Calamos. Their fees differ too: 0.95% for BTRN and 0.79% for CBOL.
Find the right allocation for BTRN and CBOL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer