LTCN vs. CBOO

Last updated Jun 5, 2026

LTCN (Grayscale Litecoin Trust) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - LTCN is a Cryptocurrency fund tracking the CoinDesk Litecoin Price Index, while CBOO is a Defined Outcome fund actively managed by Calamos. LTCN is passively managed, while CBOO is actively managed. A 0.57 correlation means they provide meaningful diversification when combined. LTCN charges 2.50%/yr vs 0.69%/yr for CBOO.

Performance

LTCN vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Litecoin Trust (LTCN) 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, LTCN achieves a -42.76% return, which is significantly lower than CBOO's -0.02% return.

LTCN

• 1D: -0.64%
• 1M: -19.52%
• YTD: -42.76%
• 6M: -51.38%
• 1Y: -52.40%
• 3Y*: -6.83%
• 5Y*: -59.10%
• 10Y*: —

CBOO

• 1D: 0.02%
• 1M: -0.06%
• YTD: -0.02%
• 6M: -0.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LTCN vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
LTCN Grayscale Litecoin Trust	-42.76%	-38.42%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.02%	-1.62%

Correlation

The correlation between LTCN and CBOO is 0.57, 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	0.57

Return for Risk

LTCN vs. CBOO — Risk / Return Rank

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

LTCN

LTCN Risk / Return Rank: 3
LTCN Sharpe Ratio Rank: 3
LTCN Sortino Ratio Rank: 3
LTCN Omega Ratio Rank: 3
LTCN Calmar Ratio Rank: 3
LTCN 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.

LTCN vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) 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.

	LTCN	CBOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.75	—	—
Sortino ratio: Return per unit of downside risk	-1.03	—	—
Omega ratio: Gain probability vs. loss probability	0.88	—	—
Calmar ratio: Return relative to maximum drawdown	-0.75	—	—
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

	LTCN	CBOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.75	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.20	-1.17	+0.97

Drawdowns

LTCN vs. CBOO - Drawdown Comparison

The maximum LTCN drawdown since its inception was -99.58%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for LTCN and CBOO.

Drawdown Indicators

	LTCN	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-99.58%	-2.34%	-97.24%
Max Drawdown (1Y) Largest decline over 1 year	-69.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-92.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.28%	—	—
Current Drawdown Current decline from peak	-99.33%	-1.70%	-97.63%
Average Drawdown Average peak-to-trough decline	-89.62%	-1.61%	-88.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.18%	—	—

Volatility

Volatility by Period

	LTCN	CBOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	41.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	69.66%	2.14%	+67.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.66%	2.14%	+104.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	141.37%	2.14%	+139.23%

LTCN vs. CBOO - Expense Ratio Comparison

LTCN has a 2.50% expense ratio, which is higher than CBOO's 0.69% expense ratio.

Dividends

LTCN vs. CBOO - Dividend Comparison

LTCN 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%
LTCN Grayscale Litecoin Trust	0.00%	0.00%

Frequently Asked Questions

Can I hold both LTCN and CBOO in my portfolio?

LTCN and CBOO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LTCN 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, LTCN or CBOO?

CBOO is cheaper with a 0.69% expense ratio, compared with 2.50% for LTCN.

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

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

What is the main difference between LTCN and CBOO?

LTCN is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: Grayscale and Calamos. Their fees differ too: 2.50% for LTCN and 0.69% for CBOO.