CBOO vs. BLOX

Last updated Jun 4, 2026

CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) and BLOX (Nicholas Crypto Income ETF) are both exchange-traded funds - CBOO is a Defined Outcome fund actively managed by Calamos, while BLOX is a Cryptocurrency fund actively managed by Nicholas. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. CBOO charges 0.69%/yr vs 1.03%/yr for BLOX.

Performance

CBOO vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Bitcoin Structured Alt Protection ETF - October (CBOO) and Nicholas Crypto Income ETF (BLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBOO achieves a -0.04% return, which is significantly lower than BLOX's 16.52% return.

CBOO

• 1D: -0.04%
• 1M: -0.00%
• YTD: -0.04%
• 6M: -0.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLOX

• 1D: -2.56%
• 1M: 10.59%
• YTD: 16.52%
• 6M: 5.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBOO vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.04%	-1.62%
BLOX Nicholas Crypto Income ETF	16.52%	-28.59%

Correlation

The correlation between CBOO and BLOX is 0.58, 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 8, 2025	0.58

Return for Risk

CBOO vs. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Bitcoin Structured Alt Protection ETF - October (CBOO) and Nicholas Crypto Income ETF (BLOX). 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

	CBOO	BLOX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.19	0.54	-1.73

Drawdowns

CBOO vs. BLOX - Drawdown Comparison

The maximum CBOO drawdown since its inception was -2.34%, smaller than the maximum BLOX drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for CBOO and BLOX.

Drawdown Indicators

	CBOO	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-47.09%	+44.75%
Current Drawdown Current decline from peak	-1.72%	-19.45%	+17.73%
Average Drawdown Average peak-to-trough decline	-1.61%	-18.53%	+16.92%

Volatility

Volatility by Period

	CBOO	BLOX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.14%	53.44%	-51.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.14%	53.44%	-51.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.14%	53.44%	-51.30%

CBOO vs. BLOX - Expense Ratio Comparison

CBOO has a 0.69% expense ratio, which is lower than BLOX's 1.03% expense ratio.

Dividends

CBOO vs. BLOX - Dividend Comparison

CBOO's dividend yield for the trailing twelve months is around 0.57%, less than BLOX's 36.81% yield.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	36.81%	22.69%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%

Frequently Asked Questions

Can I hold both CBOO and BLOX in my portfolio?

CBOO and BLOX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBOO or BLOX?

On fees, CBOO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBOO or BLOX?

CBOO is cheaper with a 0.69% expense ratio, compared with 1.03% for BLOX.

Which ETF pays a higher dividend yield, CBOO or BLOX?

BLOX has the higher dividend yield at 36.81%, compared with 0.57% for CBOO.

What is the main difference between CBOO and BLOX?

CBOO is categorized as Defined Outcome, while BLOX is Cryptocurrency. They also come from different issuers: Calamos and Nicholas. Their fees differ too: 0.69% for CBOO and 1.03% for BLOX.