CBOL vs. QSOL

Last updated Aug 5, 2026

CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) and QSOL (Invesco Galaxy Solana ETF) are both exchange-traded funds - CBOL is a Defined Outcome fund actively managed by Calamos, while QSOL is a Cryptocurrency fund tracking the Lukka Prime Solana Reference Rate - Benchmark Price Return. CBOL is actively managed, while QSOL is passively managed. Their correlation of 0.82 means they have usually moved in the same direction. CBOL charges 0.79%/yr vs 0.25%/yr for QSOL.

Performance

CBOL vs. QSOL - 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 Galaxy Solana ETF (QSOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBOL achieves a -1.78% return, which is significantly higher than QSOL's -39.26% return.

CBOL

• 1D: 0.04%
• 1M: 0.34%
• 6M: -0.55%
• YTD: -1.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QSOL

• 1D: 0.54%
• 1M: -7.66%
• 6M: -25.30%
• YTD: -39.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	$23.76K	$29.60K	$17.43K
QSOL Invesco Galaxy Solana ETF	$134.00K	$79.87K	$98.31K

CBOL vs. QSOL - Yearly Performance Comparison

	2026 (YTD)	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-1.78%	-0.30%
QSOL Invesco Galaxy Solana ETF	-39.26%	-4.28%

Correlation

The correlation between CBOL and QSOL is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 15, 2025	0.82

Return for Risk

CBOL vs. QSOL - 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 Galaxy Solana ETF (QSOL). 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. QSOL - Drawdown Comparison

The maximum CBOL drawdown since its inception was -5.05%, smaller than the maximum QSOL drawdown of -56.55%. Use the drawdown chart below to compare losses from any high point for CBOL and QSOL.

Drawdown Indicators

	CBOL	QSOL	Difference
Max Drawdown Largest peak-to-trough decline	-5.05%	-56.55%	+51.50%
Current Drawdown Current decline from peak	-4.40%	-48.93%	+44.53%
Average Drawdown Average peak-to-trough decline	-3.49%	-36.51%	+33.02%

Volatility

Volatility by Period

	CBOL	QSOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	69.18%	-65.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	69.18%	-65.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	69.18%	-65.54%

CBOL vs. QSOL - Expense Ratio Comparison

CBOL has a 0.79% expense ratio, which is higher than QSOL's 0.25% expense ratio.

Dividends

CBOL vs. QSOL - Dividend Comparison

CBOL's dividend yield for the trailing twelve months is around 1.82%, more than QSOL's 0.92% yield.

Position	TTM	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.82%	1.79%
QSOL Invesco Galaxy Solana ETF	0.92%	0.00%

Frequently Asked Questions

Can I hold both CBOL and QSOL in my portfolio?

CBOL and QSOL have a correlation of 0.82, 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 QSOL?

On fees, QSOL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBOL or QSOL?

QSOL is cheaper with a 0.25% expense ratio, compared with 0.79% for CBOL.

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

CBOL has the higher dividend yield at 1.82%, compared with 0.92% for QSOL.

What is the main difference between CBOL and QSOL?

CBOL is categorized as Defined Outcome, while QSOL is Cryptocurrency. They also come from different issuers: Calamos and Invesco. Their fees differ too: 0.79% for CBOL and 0.25% for QSOL.