CBOL vs. ISBG

Last updated Jun 24, 2026

CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) and ISBG (IncomeSTKd 1x Bitcoin & 1x Gold Premium ETF) are both exchange-traded funds - CBOL is a Defined Outcome fund actively managed by Calamos, while ISBG is a Cryptocurrency fund actively managed by Quantify Funds. Both are actively managed. A 0.78 correlation means they provide meaningful diversification when combined. CBOL charges 0.79%/yr vs 1.14%/yr for ISBG.

Performance

CBOL vs. ISBG - 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 IncomeSTKd 1x Bitcoin & 1x Gold Premium ETF (ISBG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CBOL

• 1D: -0.13%
• 1M: -0.72%
• YTD: -2.17%
• 6M: -2.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISBG

• 1D: -7.03%
• 1M: -38.10%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBOL vs. ISBG - Yearly Performance Comparison

	2026 (YTD)
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.44%
ISBG IncomeSTKd 1x Bitcoin & 1x Gold Premium ETF	-50.88%

Correlation

The correlation between CBOL and ISBG is 0.78, 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 Jan 21, 2026	0.78

Return for Risk

CBOL vs. ISBG - 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 IncomeSTKd 1x Bitcoin & 1x Gold Premium ETF (ISBG). 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. ISBG - Drawdown Comparison

The maximum CBOL drawdown since its inception was -5.05%, smaller than the maximum ISBG drawdown of -55.08%. Use the drawdown chart below to compare losses from any high point for CBOL and ISBG.

Drawdown Indicators

	CBOL	ISBG	Difference
Max Drawdown Largest peak-to-trough decline	-5.05%	-55.08%	+50.03%
Current Drawdown Current decline from peak	-4.78%	-55.08%	+50.30%
Average Drawdown Average peak-to-trough decline	-3.30%	-26.29%	+22.99%

Volatility

Volatility by Period

	CBOL	ISBG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.83%	76.10%	-72.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.83%	76.10%	-72.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.83%	76.10%	-72.27%

CBOL vs. ISBG - Expense Ratio Comparison

CBOL has a 0.79% expense ratio, which is lower than ISBG's 1.14% expense ratio.

Dividends

CBOL vs. ISBG - Dividend Comparison

CBOL's dividend yield for the trailing twelve months is around 1.83%, less than ISBG's 13.66% yield.

Position	TTM	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.83%	1.79%
ISBG IncomeSTKd 1x Bitcoin & 1x Gold Premium ETF	13.66%	0.00%

Frequently Asked Questions

Can I hold both CBOL and ISBG in my portfolio?

CBOL and ISBG have a correlation of 0.78, 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 ISBG?

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.

Which ETF is cheaper, CBOL or ISBG?

CBOL is cheaper with a 0.79% expense ratio, compared with 1.14% for ISBG.

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

ISBG has the higher dividend yield at 13.66%, compared with 1.83% for CBOL.

What is the main difference between CBOL and ISBG?

CBOL is categorized as Defined Outcome, while ISBG is Cryptocurrency. They also come from different issuers: Calamos and Quantify Funds. Their fees differ too: 0.79% for CBOL and 1.14% for ISBG.