SLON vs. CBOO

Last updated Jun 4, 2026

SLON (ProShares Ultra Solana ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - SLON is a Cryptocurrency fund tracking the Bloomberg Solana Index, while CBOO is a Defined Outcome fund actively managed by Calamos. SLON is passively managed, while CBOO is actively managed. A 0.66 correlation means they provide meaningful diversification when combined. SLON charges 2.14%/yr vs 0.69%/yr for CBOO.

Performance

SLON vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Solana ETF (SLON) 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, SLON achieves a -74.41% return, which is significantly lower than CBOO's -0.04% return.

SLON

• 1D: -9.37%
• 1M: -30.10%
• YTD: -74.41%
• 6M: -81.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOO

• 1D: -0.04%
• 1M: -0.00%
• YTD: -0.04%
• 6M: -0.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLON vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
SLON ProShares Ultra Solana ETF	-74.41%	-74.98%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.04%	-1.62%

Correlation

The correlation between SLON and CBOO is 0.66, 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	0.66

Return for Risk

SLON vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Solana ETF (SLON) 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.

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

Sharpe Ratios by Period

	SLON	CBOO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.63	-1.19	+0.55

Drawdowns

SLON vs. CBOO - Drawdown Comparison

The maximum SLON drawdown since its inception was -95.19%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for SLON and CBOO.

Drawdown Indicators

	SLON	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-95.19%	-2.34%	-92.85%
Current Drawdown Current decline from peak	-95.19%	-1.72%	-93.47%
Average Drawdown Average peak-to-trough decline	-63.84%	-1.61%	-62.23%

Volatility

Volatility by Period

	SLON	CBOO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	146.78%	2.14%	+144.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.78%	2.14%	+144.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.78%	2.14%	+144.64%

SLON vs. CBOO - Expense Ratio Comparison

SLON has a 2.14% expense ratio, which is higher than CBOO's 0.69% expense ratio.

Dividends

SLON vs. CBOO - Dividend Comparison

SLON's dividend yield for the trailing twelve months is around 22.44%, more than CBOO's 0.57% yield.

Position	TTM	2025
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%
SLON ProShares Ultra Solana ETF	22.44%	5.74%

Frequently Asked Questions

Can I hold both SLON and CBOO in my portfolio?

SLON and CBOO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLON 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, SLON or CBOO?

CBOO is cheaper with a 0.69% expense ratio, compared with 2.14% for SLON.

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

SLON has the higher dividend yield at 22.44%, compared with 0.57% for CBOO.

What is the main difference between SLON and CBOO?

SLON is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: ProShares and Calamos. Their fees differ too: 2.14% for SLON and 0.69% for CBOO.