ETCG vs. CBOO

Last updated Jun 5, 2026

ETCG (Grayscale Ethereum Classic Trust (ETC)) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - ETCG is a Cryptocurrency fund tracking the Ethereum Classic (ETC), while CBOO is a Defined Outcome fund actively managed by Calamos. ETCG is passively managed, while CBOO is actively managed. At a 0.50 correlation, their price movements are largely independent. ETCG charges 2.50%/yr vs 0.69%/yr for CBOO.

Performance

ETCG vs. CBOO - Performance Comparison

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

Returns By Period

In the year-to-date period, ETCG achieves a -37.40% return, which is significantly lower than CBOO's -0.02% return.

ETCG

• 1D: -3.10%
• 1M: -11.55%
• YTD: -37.40%
• 6M: -45.61%
• 1Y: -53.60%
• 3Y*: -8.79%
• 5Y*: -36.21%
• 10Y*: —

CBOO

• 1D: 0.02%
• 1M: -0.06%
• YTD: -0.02%
• 6M: -0.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETCG vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
ETCG Grayscale Ethereum Classic Trust (ETC)	-37.40%	-33.23%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.02%	-1.62%

Correlation

The correlation between ETCG and CBOO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	0.50

Return for Risk

ETCG vs. CBOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETCG

ETCG Risk / Return Rank: 2
ETCG Sharpe Ratio Rank: 2
ETCG Sortino Ratio Rank: 2
ETCG Omega Ratio Rank: 2
ETCG Calmar Ratio Rank: 2
ETCG Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETCG vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Classic Trust (ETC) (ETCG) and Calamos Bitcoin Structured Alt Protection ETF - October (CBOO). 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.

	ETCG	CBOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.87	—	—
Sortino ratio: Return per unit of downside risk	-1.43	—	—
Omega ratio: Gain probability vs. loss probability	0.85	—	—
Calmar ratio: Return relative to maximum drawdown	-0.80	—	—
Martin ratio: Return relative to average drawdown	-1.23	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ETCG	CBOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.87	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	-1.17	+0.99

Drawdowns

ETCG vs. CBOO - Drawdown Comparison

The maximum ETCG drawdown since its inception was -96.59%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for ETCG and CBOO.

Drawdown Indicators

	ETCG	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-96.59%	-2.34%	-94.25%
Max Drawdown (1Y) Largest decline over 1 year	-67.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-78.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.70%	—	—
Current Drawdown Current decline from peak	-95.47%	-1.70%	-93.77%
Average Drawdown Average peak-to-trough decline	-82.67%	-1.61%	-81.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.62%	—	—

Volatility

Volatility by Period

	ETCG	CBOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	62.10%	2.14%	+59.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.02%	2.14%	+91.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.30%	2.14%	+113.16%

ETCG vs. CBOO - Expense Ratio Comparison

ETCG has a 2.50% expense ratio, which is higher than CBOO's 0.69% expense ratio.

Dividends

ETCG vs. CBOO - Dividend Comparison

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

Position	TTM	2025
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%
ETCG Grayscale Ethereum Classic Trust (ETC)	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETCG and CBOO in my portfolio?

ETCG and CBOO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETCG or CBOO?

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, ETCG or CBOO?

CBOO is cheaper with a 0.69% expense ratio, compared with 2.50% for ETCG.

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

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

What is the main difference between ETCG and CBOO?

ETCG is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: Grayscale and Calamos. Their fees differ too: 2.50% for ETCG and 0.69% for CBOO.