IBLC vs. CBOL

Last updated Jun 4, 2026

IBLC (iShares Blockchain and Tech ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - IBLC is a Cryptocurrency fund tracking the ICE FactSet Global Blockchain Technologies Index, while CBOL is a Defined Outcome fund actively managed by Calamos. IBLC is passively managed, while CBOL is actively managed. A 0.74 correlation means they provide meaningful diversification when combined. IBLC charges 0.47%/yr vs 0.79%/yr for CBOL.

Performance

IBLC vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Blockchain and Tech ETF (IBLC) 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, IBLC achieves a 32.34% return, which is significantly higher than CBOL's -2.03% return.

IBLC

• 1D: -3.00%
• 1M: 13.52%
• YTD: 32.34%
• 6M: 15.25%
• 1Y: 73.27%
• 3Y*: 48.31%
• 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)

IBLC vs. CBOL - Yearly Performance Comparison

	2026 (YTD)	2025
IBLC iShares Blockchain and Tech ETF	32.34%	-33.21%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.03%	-2.47%

Correlation

The correlation between IBLC and CBOL is 0.74, 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 15, 2025	0.74

Return for Risk

IBLC vs. CBOL — Risk / Return Rank

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

IBLC

IBLC Risk / Return Rank: 33
IBLC Sharpe Ratio Rank: 37
IBLC Sortino Ratio Rank: 36
IBLC Omega Ratio Rank: 33
IBLC Calmar Ratio Rank: 33
IBLC Martin Ratio Rank: 24

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.

IBLC vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Blockchain and Tech ETF (IBLC) 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.

	IBLC	CBOL	Difference
Sharpe ratio Return per unit of total volatility	1.34	—	—
Sortino ratio Return per unit of downside risk	1.92	—	—
Omega ratio Gain probability vs. loss probability	1.23	—	—
Calmar ratio Return relative to maximum drawdown	1.64	—	—
Martin ratio Return relative to average drawdown	3.26	—	—
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

	IBLC	CBOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	-1.80	+2.20

Drawdowns

IBLC vs. CBOL - Drawdown Comparison

The maximum IBLC drawdown since its inception was -62.54%, which is greater than CBOL's maximum drawdown of -4.91%. Use the drawdown chart below to compare losses from any high point for IBLC and CBOL.

Drawdown Indicators

	IBLC	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-62.54%	-4.91%	-57.63%
Max Drawdown (1Y) Largest decline over 1 year	-44.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-51.68%	—	—
Current Drawdown Current decline from peak	-12.99%	-4.64%	-8.35%
Average Drawdown Average peak-to-trough decline	-25.89%	-3.21%	-22.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.56%	—	—

Volatility

Volatility by Period

	IBLC	CBOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	40.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.94%	3.88%	+51.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.49%	3.88%	+60.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.49%	3.88%	+60.61%

IBLC vs. CBOL - Expense Ratio Comparison

IBLC has a 0.47% expense ratio, which is lower than CBOL's 0.79% expense ratio.

Dividends

IBLC vs. CBOL - Dividend Comparison

IBLC's dividend yield for the trailing twelve months is around 4.77%, more than CBOL's 1.83% yield.

Position	TTM	2025	2024	2023	2022
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.83%	1.79%	0.00%	0.00%	0.00%
IBLC iShares Blockchain and Tech ETF	4.77%	6.31%	1.60%	1.79%	0.84%

Frequently Asked Questions

Can I hold both IBLC and CBOL in my portfolio?

IBLC and CBOL have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBLC or CBOL?

On fees, IBLC is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBLC or CBOL?

IBLC is cheaper with a 0.47% expense ratio, compared with 0.79% for CBOL.

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

IBLC has the higher dividend yield at 4.77%, compared with 1.83% for CBOL.

What is the main difference between IBLC and CBOL?

IBLC is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: iShares and Calamos. Their fees differ too: 0.47% for IBLC and 0.79% for CBOL.