CBOL vs. BLKC

Last updated Jun 4, 2026

CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) and BLKC (Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF) are both exchange-traded funds - CBOL is a Defined Outcome fund actively managed by Calamos, while BLKC is a Cryptocurrency fund tracking the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index. CBOL is actively managed, while BLKC is passively managed. A 0.71 correlation means they provide meaningful diversification when combined. CBOL charges 0.79%/yr vs 0.60%/yr for BLKC.

Performance

CBOL vs. BLKC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL) and Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CBOL

• 1D: -0.13%
• 1M: -0.78%
• YTD: -2.03%
• 6M: -2.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLKC

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBOL vs. BLKC - Yearly Performance Comparison

	2026 (YTD)	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.03%	-2.47%
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF	-12.03%	-25.22%

Correlation

The correlation between CBOL and BLKC is 0.71, 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 15, 2025	0.71

Return for Risk

CBOL vs. BLKC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL) and Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC). 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

	CBOL	BLKC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.80	—	—

Drawdowns

Drawdown Indicators

	CBOL	BLKC	Difference
Max Drawdown Largest peak-to-trough decline	-4.91%	—	—
Current Drawdown Current decline from peak	-4.64%	—	—
Average Drawdown Average peak-to-trough decline	-3.21%	—	—

Volatility

Volatility by Period

	CBOL	BLKC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.88%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.88%	—	—

CBOL vs. BLKC - Expense Ratio Comparison

CBOL has a 0.79% expense ratio, which is higher than BLKC's 0.60% expense ratio.

Dividends

CBOL vs. BLKC - Dividend Comparison

CBOL's dividend yield for the trailing twelve months is around 1.83%, less than BLKC's 4.39% yield.

Position	TTM	2025	2024	2023	2022	2021
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF	4.39%	7.72%	19.66%	1.92%	5.40%	0.51%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.83%	1.79%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CBOL and BLKC in my portfolio?

CBOL and BLKC have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBOL or BLKC?

On fees, BLKC is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBOL or BLKC?

BLKC is cheaper with a 0.60% expense ratio, compared with 0.79% for CBOL.

Which ETF pays a higher dividend yield, CBOL or BLKC?

BLKC has the higher dividend yield at 4.39%, compared with 1.83% for CBOL.

What is the main difference between CBOL and BLKC?

CBOL is categorized as Defined Outcome, while BLKC is Cryptocurrency. They also come from different issuers: Calamos and Invesco. Their fees differ too: 0.79% for CBOL and 0.60% for BLKC.