ETHT vs. CBOO

Last updated Jun 4, 2026

ETHT (ProShares Ultra Ether ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - ETHT is a Cryptocurrency fund tracking the Bloomberg Ethereum Index (200%), while CBOO is a Defined Outcome fund actively managed by Calamos. ETHT is passively managed, while CBOO is actively managed. A 0.69 correlation means they provide meaningful diversification when combined. ETHT charges 0.94%/yr vs 0.69%/yr for CBOO.

Performance

ETHT vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Ether ETF (ETHT) 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, ETHT achieves a -72.39% return, which is significantly lower than CBOO's -0.04% return.

ETHT

• 1D: -11.32%
• 1M: -43.48%
• YTD: -72.39%
• 6M: -76.21%
• 1Y: -76.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOO

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

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

ETHT vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
ETHT ProShares Ultra Ether ETF	-72.39%	-63.39%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.04%	-1.62%

Correlation

The correlation between ETHT and CBOO is 0.69, 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 Oct 8, 2025	0.69

Return for Risk

ETHT vs. CBOO — Risk / Return Rank

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

ETHT

ETHT Risk / Return Rank: 3
ETHT Sharpe Ratio Rank: 4
ETHT Sortino Ratio Rank: 4
ETHT Omega Ratio Rank: 5
ETHT Calmar Ratio Rank: 2
ETHT 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.

ETHT vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Ether ETF (ETHT) 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.

	ETHT	CBOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	—	—
Sortino ratio: Return per unit of downside risk	-0.54	—	—
Omega ratio: Gain probability vs. loss probability	0.94	—	—
Calmar ratio: Return relative to maximum drawdown	-0.83	—	—
Martin ratio: Return relative to average drawdown	-1.22	—	—
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

	ETHT	CBOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	-1.19	+0.65

Drawdowns

ETHT vs. CBOO - Drawdown Comparison

The maximum ETHT drawdown since its inception was -94.34%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for ETHT and CBOO.

Drawdown Indicators

	ETHT	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-94.34%	-2.34%	-92.00%
Max Drawdown (1Y) Largest decline over 1 year	-91.91%	—	—
Current Drawdown Current decline from peak	-94.34%	-1.72%	-92.62%
Average Drawdown Average peak-to-trough decline	-64.82%	-1.61%	-63.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.48%	—	—

Volatility

Volatility by Period

	ETHT	CBOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	92.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	136.57%	2.14%	+134.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.90%	2.14%	+140.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.90%	2.14%	+140.76%

ETHT vs. CBOO - Expense Ratio Comparison

ETHT has a 0.94% expense ratio, which is higher than CBOO's 0.69% expense ratio.

Dividends

ETHT vs. CBOO - Dividend Comparison

ETHT's dividend yield for the trailing twelve months is around 17.20%, more than CBOO's 0.57% yield.

Position	TTM	2025	2024
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%	0.00%
ETHT ProShares Ultra Ether ETF	17.20%	4.57%	0.02%

Frequently Asked Questions

Can I hold both ETHT and CBOO in my portfolio?

ETHT and CBOO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETHT 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, ETHT or CBOO?

CBOO is cheaper with a 0.69% expense ratio, compared with 0.94% for ETHT.

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

ETHT has the higher dividend yield at 17.20%, compared with 0.57% for CBOO.

What is the main difference between ETHT and CBOO?

ETHT is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: ProShares and Calamos. Their fees differ too: 0.94% for ETHT and 0.69% for CBOO.