CBOO vs. ETHB

Last updated Jun 4, 2026

CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) and ETHB (iShares Staked Ethereum Trust ETF) are both exchange-traded funds - CBOO is a Defined Outcome fund actively managed by Calamos, while ETHB is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant. CBOO is actively managed, while ETHB is passively managed. A 0.66 correlation means they provide meaningful diversification when combined. CBOO charges 0.69%/yr vs 0.25%/yr for ETHB.

Performance

CBOO vs. ETHB - Performance Comparison

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

Returns By Period

CBOO

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

ETHB

• 1D: -5.62%
• 1M: -23.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBOO vs. ETHB - Yearly Performance Comparison

	2026 (YTD)
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.35%
ETHB iShares Staked Ethereum Trust ETF	-13.09%

Correlation

The correlation between CBOO and ETHB is 0.66, 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 Mar 13, 2026	0.66

Return for Risk

CBOO vs. ETHB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Bitcoin Structured Alt Protection ETF - October (CBOO) and iShares Staked Ethereum Trust ETF (ETHB). 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	ETHB	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.19	-0.98	-0.21

Drawdowns

CBOO vs. ETHB - Drawdown Comparison

The maximum CBOO drawdown since its inception was -2.34%, smaller than the maximum ETHB drawdown of -25.90%. Use the drawdown chart below to compare losses from any high point for CBOO and ETHB.

Drawdown Indicators

	CBOO	ETHB	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-25.90%	+23.56%
Current Drawdown Current decline from peak	-1.72%	-25.90%	+24.18%
Average Drawdown Average peak-to-trough decline	-1.61%	-7.89%	+6.28%

Volatility

Volatility by Period

	CBOO	ETHB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.14%	47.62%	-45.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.14%	47.62%	-45.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.14%	47.62%	-45.48%

CBOO vs. ETHB - Expense Ratio Comparison

CBOO has a 0.69% expense ratio, which is higher than ETHB's 0.25% expense ratio.

Dividends

CBOO vs. ETHB - Dividend Comparison

CBOO's dividend yield for the trailing twelve months is around 0.57%, while ETHB has not paid dividends to shareholders.

Position	TTM	2025
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%
ETHB iShares Staked Ethereum Trust ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both CBOO and ETHB in my portfolio?

CBOO and ETHB have a correlation of 0.66, 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 ETHB?

On fees, ETHB 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, CBOO or ETHB?

ETHB is cheaper with a 0.25% expense ratio, compared with 0.69% for CBOO.

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

CBOO has the higher dividend yield at 0.57%, compared with 0.00% for ETHB.

What is the main difference between CBOO and ETHB?

CBOO is categorized as Defined Outcome, while ETHB is Cryptocurrency. They also come from different issuers: Calamos and iShares. Their fees differ too: 0.69% for CBOO and 0.25% for ETHB.