GSUI vs. CBOL

Last updated Jun 4, 2026

GSUI (Grayscale Sui Staking ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - GSUI is a Cryptocurrency fund tracking the CoinDesk SUI Reference Rate, while CBOL is a Defined Outcome fund actively managed by Calamos. GSUI is passively managed, while CBOL is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. GSUI charges 0.00%/yr vs 0.79%/yr for CBOL.

Performance

GSUI vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Sui Staking ETF (GSUI) 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

In the year-to-date period, GSUI achieves a -39.93% return, which is significantly lower than CBOL's -2.03% return.

GSUI

• 1D: -1.09%
• 1M: -12.82%
• YTD: -39.93%
• 6M: -46.50%
• 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)

GSUI vs. CBOL - Yearly Performance Comparison

	2026 (YTD)	2025
GSUI Grayscale Sui Staking ETF	-39.93%	-34.63%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.03%	-0.11%

Correlation

The correlation between GSUI and CBOL is 0.53, 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 Nov 25, 2025	0.53

Return for Risk

GSUI vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Sui Staking ETF (GSUI) 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

	GSUI	CBOL	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	-1.80	+1.02

Drawdowns

GSUI vs. CBOL - Drawdown Comparison

The maximum GSUI drawdown since its inception was -60.73%, which is greater than CBOL's maximum drawdown of -4.91%. Use the drawdown chart below to compare losses from any high point for GSUI and CBOL.

Drawdown Indicators

	GSUI	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-60.73%	-4.91%	-55.82%
Current Drawdown Current decline from peak	-60.73%	-4.64%	-56.09%
Average Drawdown Average peak-to-trough decline	-43.81%	-3.21%	-40.60%

Volatility

Volatility by Period

	GSUI	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	107.79%	3.88%	+103.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.79%	3.88%	+103.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.79%	3.88%	+103.91%

GSUI vs. CBOL - Expense Ratio Comparison

GSUI has a 0.00% expense ratio, which is lower than CBOL's 0.79% expense ratio.

Dividends

GSUI vs. CBOL - Dividend Comparison

GSUI 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%
GSUI Grayscale Sui Staking ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSUI and CBOL in my portfolio?

GSUI and CBOL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GSUI or CBOL?

On fees, GSUI is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GSUI or CBOL?

GSUI is cheaper with a 0.00% expense ratio, compared with 0.79% for CBOL.

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

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

What is the main difference between GSUI and CBOL?

GSUI is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: Grayscale and Calamos. Their fees differ too: 0.00% for GSUI and 0.79% for CBOL.