ETHU vs. CBOO

Last updated Jun 4, 2026

ETHU (Volatility Shares 2x Ether ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - ETHU is a Cryptocurrency fund actively managed by Volatility Shares, while CBOO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. ETHU charges 0.94%/yr vs 0.69%/yr for CBOO.

Performance

ETHU vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares 2x Ether ETF (ETHU) 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, ETHU achieves a -71.31% return, which is significantly lower than CBOO's -0.04% return.

ETHU

• 1D: -11.44%
• 1M: -43.11%
• YTD: -71.31%
• 6M: -75.18%
• 1Y: -75.44%
• 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)

ETHU vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
ETHU Volatility Shares 2x Ether ETF	-71.31%	-63.08%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.04%	-1.62%

Correlation

The correlation between ETHU 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

ETHU vs. CBOO — Risk / Return Rank

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

ETHU

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

ETHU vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Ether ETF (ETHU) 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.

	ETHU	CBOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	—	—
Sortino ratio: Return per unit of downside risk	-0.48	—	—
Omega ratio: Gain probability vs. loss probability	0.95	—	—
Calmar ratio: Return relative to maximum drawdown	-0.83	—	—
Martin ratio: Return relative to average drawdown	-1.21	—	—
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

	ETHU	CBOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	-1.19	+0.65

Drawdowns

ETHU vs. CBOO - Drawdown Comparison

The maximum ETHU drawdown since its inception was -95.03%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for ETHU and CBOO.

Drawdown Indicators

	ETHU	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-95.03%	-2.34%	-92.69%
Max Drawdown (1Y) Largest decline over 1 year	-91.56%	—	—
Current Drawdown Current decline from peak	-95.03%	-1.72%	-93.31%
Average Drawdown Average peak-to-trough decline	-69.40%	-1.61%	-67.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.34%	—	—

Volatility

Volatility by Period

	ETHU	CBOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	93.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	137.60%	2.14%	+135.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	143.09%	2.14%	+140.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.09%	2.14%	+140.95%

ETHU vs. CBOO - Expense Ratio Comparison

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

Dividends

ETHU vs. CBOO - Dividend Comparison

ETHU's dividend yield for the trailing twelve months is around 5.01%, 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%
ETHU Volatility Shares 2x Ether ETF	5.01%	2.31%	0.41%

Frequently Asked Questions

Can I hold both ETHU and CBOO in my portfolio?

ETHU 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, ETHU 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, ETHU or CBOO?

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

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

ETHU has the higher dividend yield at 5.01%, compared with 0.57% for CBOO.

What is the main difference between ETHU and CBOO?

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