GXLM vs. CBOO

Last updated Jun 30, 2026

GXLM (Grayscale Stellar Lumens Trust (XLM)) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - GXLM is a Cryptocurrency fund actively managed by Grayscale, while CBOO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

GXLM vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Stellar Lumens Trust (XLM) (GXLM) 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, GXLM achieves a 6.12% return, which is significantly higher than CBOO's 0.12% return.

GXLM

• 1D: -0.10%
• 1M: -24.43%
• YTD: 6.12%
• 6M: 1.93%
• 1Y: 3.00%
• 3Y*: -27.76%
• 5Y*: —
• 10Y*: —

CBOO

• 1D: 0.02%
• 1M: 0.14%
• YTD: 0.12%
• 6M: -0.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GXLM vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
GXLM Grayscale Stellar Lumens Trust (XLM)	6.12%	-47.75%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.12%	-1.66%

Correlation

The correlation between GXLM and CBOO is 0.54, 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 7, 2025	0.54

Return for Risk

GXLM vs. CBOO — Risk / Return Rank

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

GXLM

GXLM Risk / Return Rank: 12
GXLM Sharpe Ratio Rank: 10
GXLM Sortino Ratio Rank: 17
GXLM Omega Ratio Rank: 16
GXLM Calmar Ratio Rank: 9
GXLM Martin Ratio Rank: 9

CBOO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GXLM vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Stellar Lumens Trust (XLM) (GXLM) 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.

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.

	GXLM	CBOO	Difference
Sharpe ratio: Return per unit of total volatility	0.03	—	—
Sortino ratio: Return per unit of downside risk	0.89	—	—
Omega ratio: Gain probability vs. loss probability	1.10	—	—
Calmar ratio: Return relative to maximum drawdown	0.04	—	—
Martin ratio: Return relative to average drawdown	0.06	—	—

Drawdowns

GXLM vs. CBOO - Drawdown Comparison

The maximum GXLM drawdown since its inception was -94.01%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for GXLM and CBOO.

Drawdown Indicators

	GXLM	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-94.01%	-2.34%	-91.67%
Max Drawdown (1Y) Largest decline over 1 year	-71.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-78.19%	—	—
Current Drawdown Current decline from peak	-76.54%	-1.56%	-74.98%
Average Drawdown Average peak-to-trough decline	-70.43%	-1.60%	-68.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.28%	—	—

Volatility

Volatility by Period

	GXLM	CBOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	61.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	104.03%	2.05%	+101.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	148.38%	2.05%	+146.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	148.38%	2.05%	+146.33%

Dividends

GXLM vs. CBOO - Dividend Comparison

GXLM has not paid dividends to shareholders, while CBOO's dividend yield for the trailing twelve months is around 0.57%.

Position	TTM	2025
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%
GXLM Grayscale Stellar Lumens Trust (XLM)	0.00%	0.00%

Frequently Asked Questions

Can I hold both GXLM and CBOO in my portfolio?

GXLM and CBOO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

CBOO has the higher dividend yield at 0.57%, compared with 0.00% for GXLM.

What is the main difference between GXLM and CBOO?

GXLM is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: Grayscale and Calamos.