QSOL vs. CBTJ

Last updated Aug 6, 2026

QSOL (Invesco Galaxy Solana ETF) and CBTJ (Calamos Bitcoin 80 Series Structured Alt Protection ETF - January) are both exchange-traded funds - QSOL is a Cryptocurrency fund tracking the Lukka Prime Solana Reference Rate - Benchmark Price Return, while CBTJ is a Blockchain fund actively managed by Calamos. QSOL is passively managed, while CBTJ is actively managed. Their correlation of 0.86 means they have usually moved in the same direction. QSOL charges 0.25%/yr vs 0.69%/yr for CBTJ.

Performance

QSOL vs. CBTJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Solana ETF (QSOL) and Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QSOL achieves a -39.18% return, which is significantly lower than CBTJ's -18.82% return.

QSOL

• 1D: 0.13%
• 1M: -9.14%
• 6M: -19.06%
• YTD: -39.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CBTJ

• 1D: 0.35%
• 1M: -0.61%
• 6M: -8.45%
• YTD: -18.82%
• 1Y: -36.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -19.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January	$52.41K	$142.91K	$329.22K
QSOL Invesco Galaxy Solana ETF	$133.31K	$75.15K	$97.62K

QSOL vs. CBTJ - Yearly Performance Comparison

	2026 (YTD)	2025
QSOL Invesco Galaxy Solana ETF	-39.18%	-4.28%
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January	-18.82%	-4.29%

Correlation

The correlation between QSOL and CBTJ is 0.86, 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 Dec 15, 2025	0.86

Return for Risk

QSOL vs. CBTJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QSOL

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

CBTJ

CBTJ Risk / Return Rank: 1
CBTJ Sharpe Ratio Rank: 0
CBTJ Sortino Ratio Rank: 0
CBTJ Omega Ratio Rank: 0
CBTJ Calmar Ratio Rank: 2
CBTJ Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QSOL vs. CBTJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Solana ETF (QSOL) and Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ). 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.

	QSOL	CBTJ	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.37	—
Sortino ratio: Return per unit of downside risk	—	-2.02	—
Omega ratio: Gain probability vs. loss probability	—	0.77	—
Calmar ratio: Return relative to maximum drawdown	—	-0.85	—
Martin ratio: Return relative to average drawdown	—	-1.25	—

Drawdowns

QSOL vs. CBTJ - Drawdown Comparison

The maximum QSOL drawdown since its inception was -56.55%, which is greater than CBTJ's maximum drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for QSOL and CBTJ.

Drawdown Indicators

	QSOL	CBTJ	Difference
Max Drawdown Largest peak-to-trough decline	-56.55%	-42.41%	-14.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.41%	—
Current Drawdown Current decline from peak	-48.87%	-40.76%	-8.11%
Average Drawdown Average peak-to-trough decline	-36.59%	-18.00%	-18.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.97%	—

Volatility

Volatility by Period

	QSOL	CBTJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	68.97%	26.53%	+42.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.97%	24.61%	+44.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.97%	24.61%	+44.36%

QSOL vs. CBTJ - Expense Ratio Comparison

QSOL has a 0.25% expense ratio, which is lower than CBTJ's 0.69% expense ratio.

Dividends

QSOL vs. CBTJ - Dividend Comparison

QSOL's dividend yield for the trailing twelve months is around 0.91%, less than CBTJ's 1.79% yield.

Position	TTM	2025
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January	1.79%	1.45%
QSOL Invesco Galaxy Solana ETF	0.91%	0.00%

Frequently Asked Questions

Can I hold both QSOL and CBTJ in my portfolio?

QSOL and CBTJ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QSOL or CBTJ?

On fees, QSOL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QSOL or CBTJ?

QSOL is cheaper with a 0.25% expense ratio, compared with 0.69% for CBTJ.

Which ETF pays a higher dividend yield, QSOL or CBTJ?

CBTJ has the higher dividend yield at 1.79%, compared with 0.91% for QSOL.

What is the main difference between QSOL and CBTJ?

QSOL is categorized as Cryptocurrency, while CBTJ is Blockchain. They also come from different issuers: Invesco and Calamos. Their fees differ too: 0.25% for QSOL and 0.69% for CBTJ.