CBOL vs. ESK

Last updated Jun 23, 2026

CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) and ESK (REX-Osprey ETH + Staking ETF) are both exchange-traded funds - CBOL is a Defined Outcome fund actively managed by Calamos, while ESK is a Cryptocurrency fund actively managed by REX Shares. Both are actively managed. Their correlation of 0.88 suggests significant overlap in exposure. CBOL charges 0.79%/yr vs 0.75%/yr for ESK.

Performance

CBOL vs. ESK - 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 REX-Osprey ETH + Staking ETF (ESK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBOL achieves a -2.05% return, which is significantly higher than ESK's -44.38% return.

CBOL

• 1D: 0.06%
• 1M: -0.59%
• YTD: -2.05%
• 6M: -2.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ESK

• 1D: 0.00%
• 1M: -20.83%
• YTD: -44.38%
• 6M: -44.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBOL vs. ESK - Yearly Performance Comparison

	2026 (YTD)	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.05%	-2.04%
ESK REX-Osprey ETH + Staking ETF	-44.38%	-29.16%

Correlation

The correlation between CBOL and ESK is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.88

Return for Risk

CBOL vs. ESK - 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 REX-Osprey ETH + Staking ETF (ESK). 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.

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

Drawdowns

CBOL vs. ESK - Drawdown Comparison

The maximum CBOL drawdown since its inception was -5.05%, smaller than the maximum ESK drawdown of -66.25%. Use the drawdown chart below to compare losses from any high point for CBOL and ESK.

Drawdown Indicators

	CBOL	ESK	Difference
Max Drawdown Largest peak-to-trough decline	-5.05%	-66.25%	+61.20%
Current Drawdown Current decline from peak	-4.66%	-64.43%	+59.77%
Average Drawdown Average peak-to-trough decline	-3.29%	-41.53%	+38.24%

Volatility

Volatility by Period

	CBOL	ESK	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.84%	66.82%	-62.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.84%	66.82%	-62.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.84%	66.82%	-62.98%

CBOL vs. ESK - Expense Ratio Comparison

CBOL has a 0.79% expense ratio, which is higher than ESK's 0.75% expense ratio.

Dividends

CBOL vs. ESK - Dividend Comparison

CBOL's dividend yield for the trailing twelve months is around 1.83%, more than ESK's 1.06% yield.

Position	TTM	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.83%	1.79%
ESK REX-Osprey ETH + Staking ETF	1.06%	0.30%

Frequently Asked Questions

Can I hold both CBOL and ESK in my portfolio?

CBOL and ESK have a correlation of 0.88, 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 ESK?

On fees, ESK is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBOL or ESK?

ESK is cheaper with a 0.75% expense ratio, compared with 0.79% for CBOL.

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

CBOL has the higher dividend yield at 1.83%, compared with 1.06% for ESK.

What is the main difference between CBOL and ESK?

CBOL is categorized as Defined Outcome, while ESK is Cryptocurrency. They also come from different issuers: Calamos and REX Shares. Their fees differ too: 0.79% for CBOL and 0.75% for ESK.