CBOL vs. QB
CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds. CBOL is actively managed, while QB is passively managed. Their 0.43 correlation means their historical movements had little consistent relationship. CBOL charges 0.79%/yr vs 0.58%/yr for QB.
Performance
CBOL vs. QB - Performance Comparison
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Returns By Period
In the year-to-date period, CBOL achieves a -1.78% return, which is significantly lower than QB's 15.61% return.
CBOL
- 1D
- 0.04%
- 1M
- 0.34%
- 6M
- -0.55%
- YTD
- -1.78%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
QB
- 1D
- 0.85%
- 1M
- 4.09%
- 6M
- 15.00%
- YTD
- 15.61%
- 1Y
- 22.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 20.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.76K | $29.60K | $17.43K | |
| $54.67K | $35.27K | $152.35K |
CBOL vs. QB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | -1.78% | -2.04% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 15.61% | 3.02% |
Correlation
The correlation between CBOL and QB is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.43 |
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Return for Risk
CBOL vs. QB — Risk / Return Rank
CBOL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QB
CBOL vs. QB - 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 ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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.
| CBOL | QB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.73 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 6.37 | — |
| Martin ratioReturn relative to average drawdown | — | 30.57 | — |
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Drawdowns
CBOL vs. QB - Drawdown Comparison
The maximum CBOL drawdown since its inception was -5.05%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for CBOL and QB.
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Drawdown Indicators
| CBOL | QB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.05% | -3.47% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.47% | — |
Current DrawdownCurrent decline from peak | -4.40% | 0.00% | -4.40% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -0.41% | -3.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.72% | — |
Volatility
CBOL vs. QB - Volatility Comparison
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Volatility by Period
| CBOL | QB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.40% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 7.29% | -3.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 7.05% | -3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.64% | 7.05% | -3.41% |
CBOL vs. QB - Expense Ratio Comparison
CBOL has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.
Dividends
CBOL vs. QB - Dividend Comparison
CBOL's dividend yield for the trailing twelve months is around 1.82%, more than QB's 0.75% yield.
| Position | TTM | 2025 |
|---|---|---|
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | 1.82% | 1.79% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 0.75% | 0.48% |
Frequently Asked Questions
CBOL and QB have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QB is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QB is cheaper with a 0.58% expense ratio, compared with 0.79% for CBOL.
CBOL has the higher dividend yield at 1.82%, compared with 0.75% for QB.
They also come from different issuers: Calamos and ProShares. Their fees differ too: 0.79% for CBOL and 0.58% for QB.
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