ETH vs. CBXO
ETH (Grayscale Ethereum Staking Mini ETF) and CBXO (Calamos Bitcoin 90 Series Structured Alt Protection ETF - October) are both exchange-traded funds - ETH is a Cryptocurrency fund actively managed by Grayscale, while CBXO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. Their 0.76 correlation means they have sometimes moved together and sometimes differently. ETH charges 0.15%/yr vs 0.69%/yr for CBXO.
Performance
ETH vs. CBXO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETH achieves a -36.49% return, which is significantly lower than CBXO's -3.41% return.
ETH
- 1D
- 0.11%
- 1M
- 10.14%
- 6M
- -18.78%
- YTD
- -36.49%
- 1Y
- -45.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.19%
CBXO
- 1D
- -0.07%
- 1M
- 0.34%
- 6M
- -1.56%
- YTD
- -3.41%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.12K | $50.64K | $55.08K | |
| $31.27M | $33.28M | $46.00M |
ETH vs. CBXO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -36.49% | -36.99% |
CBXO Calamos Bitcoin 90 Series Structured Alt Protection ETF - October | -3.41% | -8.05% |
Correlation
The correlation between ETH and CBXO is 0.76, 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 | 0.76 |
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
ETH vs. CBXO — Risk / Return Rank
ETH
CBXO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ETH vs. CBXO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) 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.
| ETH | CBXO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.91 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | — | — |
| Martin ratioReturn relative to average drawdown | -1.02 | — | — |
Loading charts...
Drawdowns
ETH vs. CBXO - Drawdown Comparison
The maximum ETH drawdown since its inception was -67.52%, which is greater than CBXO's maximum drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for ETH and CBXO.
Loading charts...
Drawdown Indicators
| ETH | CBXO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.52% | -11.51% | -56.01% |
Max Drawdown (1Y)Largest decline over 1 year | -67.52% | — | — |
Current DrawdownCurrent decline from peak | -60.89% | -11.19% | -49.70% |
Average DrawdownAverage peak-to-trough decline | -35.09% | -9.02% | -26.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.23% | — | — |
Volatility
ETH vs. CBXO - Volatility Comparison
Loading charts...
Volatility by Period
| ETH | CBXO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.23% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 45.64% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 67.03% | 6.48% | +60.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.15% | 6.48% | +64.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.15% | 6.48% | +64.67% |
ETH vs. CBXO - Expense Ratio Comparison
ETH has a 0.15% expense ratio, which is lower than CBXO's 0.69% expense ratio.
Dividends
ETH vs. CBXO - Dividend Comparison
ETH has not paid dividends to shareholders, while CBXO's dividend yield for the trailing twelve months is around 0.53%.
| Position | TTM | 2025 |
|---|---|---|
CBXO Calamos Bitcoin 90 Series Structured Alt Protection ETF - October | 0.53% | 0.51% |
ETH Grayscale Ethereum Staking Mini ETF | 0.00% | 0.00% |
Frequently Asked Questions
ETH and CBXO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETH is cheaper with a 0.15% expense ratio, compared with 0.69% for CBXO.
CBXO has the higher dividend yield at 0.53%, compared with 0.00% for ETH.
ETH is categorized as Cryptocurrency, while CBXO is Defined Outcome. They also come from different issuers: Grayscale and Calamos. Their fees differ too: 0.15% for ETH and 0.69% for CBXO.
Find the right allocation for ETH 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