ETCG vs. CBXO
ETCG (Grayscale Ethereum Classic Trust (ETC)) and CBXO (Calamos Bitcoin 90 Series Structured Alt Protection ETF - October) are both exchange-traded funds - ETCG is a Cryptocurrency fund tracking the Ethereum Classic (ETC), while CBXO is a Defined Outcome fund actively managed by Calamos. ETCG is passively managed, while CBXO is actively managed. Their 0.58 correlation means they have sometimes moved together and sometimes differently. ETCG charges 2.50%/yr vs 0.69%/yr for CBXO.
Performance
ETCG vs. CBXO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETCG achieves a -47.46% return, which is significantly lower than CBXO's -3.32% return.
ETCG
- 1D
- 1.43%
- 1M
- -13.06%
- 6M
- -34.35%
- YTD
- -47.46%
- 1Y
- -66.78%
- 3Y*
- -20.02%
- 5Y*
- -37.77%
- 10Y*
- —
- ALL TIME*
- -22.05%
CBXO
- 1D
- 0.09%
- 1M
- 0.43%
- 6M
- -1.51%
- YTD
- -3.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.16K | $48.37K | $55.02K | |
| $62.63K | $57.03K | $104.25K |
ETCG vs. CBXO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | -47.46% | -34.67% |
CBXO Calamos Bitcoin 90 Series Structured Alt Protection ETF - October | -3.32% | -8.05% |
Correlation
The correlation between ETCG and CBXO is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 7, 2025 | 0.58 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETCG vs. CBXO — Risk / Return Rank
ETCG
CBXO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ETCG vs. CBXO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Classic Trust (ETC) (ETCG) and Calamos Bitcoin 90 Series Structured Alt Protection ETF - October (CBXO). 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.
| ETCG | CBXO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.76 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | — | — |
| Martin ratioReturn relative to average drawdown | -1.30 | — | — |
Loading charts...
Drawdowns
ETCG vs. CBXO - Drawdown Comparison
The maximum ETCG drawdown since its inception was -96.59%, which is greater than CBXO's maximum drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for ETCG and CBXO.
Loading charts...
Drawdown Indicators
| ETCG | CBXO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.59% | -11.51% | -85.08% |
Max Drawdown (1Y)Largest decline over 1 year | -72.70% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -82.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -92.70% | — | — |
Current DrawdownCurrent decline from peak | -96.20% | -11.11% | -85.09% |
Average DrawdownAverage peak-to-trough decline | -82.89% | -9.03% | -73.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.47% | — | — |
Volatility
ETCG vs. CBXO - Volatility Comparison
Loading charts...
Volatility by Period
| ETCG | CBXO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 33.37% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 57.25% | 6.46% | +50.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.69% | 6.46% | +84.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 114.27% | 6.46% | +107.81% |
ETCG vs. CBXO - Expense Ratio Comparison
ETCG has a 2.50% expense ratio, which is higher than CBXO's 0.69% expense ratio.
Dividends
ETCG vs. CBXO - Dividend Comparison
ETCG has not paid dividends to shareholders, while CBXO's dividend yield for the trailing twelve months is around 0.52%.
| Position | TTM | 2025 |
|---|---|---|
CBXO Calamos Bitcoin 90 Series Structured Alt Protection ETF - October | 0.52% | 0.51% |
ETCG Grayscale Ethereum Classic Trust (ETC) | 0.00% | 0.00% |
Frequently Asked Questions
ETCG and CBXO 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.
On fees, CBXO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBXO is cheaper with a 0.69% expense ratio, compared with 2.50% for ETCG.
CBXO has the higher dividend yield at 0.52%, compared with 0.00% for ETCG.
ETCG is categorized as Cryptocurrency, while CBXO is Defined Outcome. They also come from different issuers: Grayscale and Calamos. Their fees differ too: 2.50% for ETCG and 0.69% for CBXO.
Find the right allocation for ETCG and CBXO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer