IBIT vs. CBOL
IBIT (iShares Bitcoin Trust ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while CBOL is a Defined Outcome fund actively managed by Calamos. IBIT is passively managed, while CBOL is actively managed. Their correlation of 0.92 means they have usually moved in the same direction. IBIT charges 0.25%/yr vs 0.79%/yr for CBOL.
Performance
IBIT vs. CBOL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBIT achieves a -26.71% return, which is significantly lower than CBOL's -1.78% return.
IBIT
- 1D
- 0.64%
- 1M
- 4.36%
- 6M
- -15.96%
- YTD
- -26.71%
- 1Y
- -44.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.86%
CBOL
- 1D
- 0.04%
- 1M
- 0.34%
- 6M
- -0.55%
- YTD
- -1.78%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.76K | $29.60K | $17.43K | |
| $1.29B | $1.33B | $1.64B |
IBIT vs. CBOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBIT iShares Bitcoin Trust ETF | -26.71% | -24.56% |
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | -1.78% | -2.04% |
Correlation
The correlation between IBIT and CBOL is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.92 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBIT vs. CBOL — Risk / Return Rank
IBIT
CBOL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBIT vs. CBOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.
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.
| IBIT | CBOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.84 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | — | — |
| Martin ratioReturn relative to average drawdown | -1.27 | — | — |
Loading charts...
Drawdowns
IBIT vs. CBOL - Drawdown Comparison
The maximum IBIT drawdown since its inception was -53.30%, which is greater than CBOL's maximum drawdown of -5.05%. Use the drawdown chart below to compare losses from any high point for IBIT and CBOL.
Loading charts...
Drawdown Indicators
| IBIT | CBOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.30% | -5.05% | -48.25% |
Max Drawdown (1Y)Largest decline over 1 year | -53.30% | — | — |
Current DrawdownCurrent decline from peak | -48.95% | -4.40% | -44.55% |
Average DrawdownAverage peak-to-trough decline | -18.34% | -3.49% | -14.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.94% | — | — |
Volatility
IBIT vs. CBOL - Volatility Comparison
Loading charts...
Volatility by Period
| IBIT | CBOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.29% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 33.07% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 44.40% | 3.64% | +40.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.53% | 3.64% | +45.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.53% | 3.64% | +45.89% |
IBIT vs. CBOL - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is lower than CBOL's 0.79% expense ratio.
Dividends
IBIT vs. CBOL - Dividend Comparison
IBIT has not paid dividends to shareholders, while CBOL's dividend yield for the trailing twelve months is around 1.82%.
| Position | TTM | 2025 |
|---|---|---|
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF | 1.82% | 1.79% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, IBIT and CBOL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IBIT is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.79% for CBOL.
CBOL has the higher dividend yield at 1.82%, compared with 0.00% for IBIT.
IBIT 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 IBIT and 0.79% for CBOL.
Find the right allocation for IBIT and CBOL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer