ETHB vs. CBOL

Last updated Jun 4, 2026

ETHB (iShares Staked Ethereum Trust ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - ETHB is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while CBOL is a Defined Outcome fund actively managed by Calamos. ETHB is passively managed, while CBOL is actively managed. Their correlation of 0.86 suggests significant overlap in exposure. ETHB charges 0.25%/yr vs 0.79%/yr for CBOL.

Performance

ETHB vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Staked Ethereum Trust ETF (ETHB) and Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ETHB

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

CBOL

• 1D: -0.13%
• 1M: -0.78%
• YTD: -2.03%
• 6M: -2.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHB vs. CBOL - Yearly Performance Comparison

	2026 (YTD)
ETHB iShares Staked Ethereum Trust ETF	-13.09%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-0.17%

Correlation

The correlation between ETHB and CBOL is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 13, 2026	0.86

Return for Risk

ETHB vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Staked Ethereum Trust ETF (ETHB) and Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL). 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

	ETHB	CBOL	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.98	-1.80	+0.82

Drawdowns

ETHB vs. CBOL - Drawdown Comparison

The maximum ETHB drawdown since its inception was -25.90%, which is greater than CBOL's maximum drawdown of -4.91%. Use the drawdown chart below to compare losses from any high point for ETHB and CBOL.

Drawdown Indicators

	ETHB	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-25.90%	-4.91%	-20.99%
Current Drawdown Current decline from peak	-25.90%	-4.64%	-21.26%
Average Drawdown Average peak-to-trough decline	-7.89%	-3.21%	-4.68%

Volatility

Volatility by Period

	ETHB	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	47.62%	3.88%	+43.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.62%	3.88%	+43.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.62%	3.88%	+43.74%

ETHB vs. CBOL - Expense Ratio Comparison

ETHB has a 0.25% expense ratio, which is lower than CBOL's 0.79% expense ratio.

Dividends

ETHB vs. CBOL - Dividend Comparison

ETHB has not paid dividends to shareholders, while CBOL's dividend yield for the trailing twelve months is around 1.83%.

Position	TTM	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.83%	1.79%
ETHB iShares Staked Ethereum Trust ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETHB and CBOL in my portfolio?

ETHB and CBOL have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETHB or CBOL?

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, ETHB or CBOL?

ETHB is cheaper with a 0.25% expense ratio, compared with 0.79% for CBOL.

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

CBOL has the higher dividend yield at 1.83%, compared with 0.00% for ETHB.

What is the main difference between ETHB and CBOL?

ETHB is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: iShares and Calamos. Their fees differ too: 0.25% for ETHB and 0.79% for CBOL.