SOEZ vs. CBTO

Last updated Jul 16, 2026

SOEZ (Franklin Solana ETF) and CBTO (Calamos Bitcoin 80 Series Structured Alt Protection ETF - October) are both exchange-traded funds - SOEZ is a Cryptocurrency fund actively managed by Franklin, while CBTO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. SOEZ charges 0.19%/yr vs 0.69%/yr for CBTO.

Performance

SOEZ vs. CBTO - Performance Comparison

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

Returns By Period

In the year-to-date period, SOEZ achieves a -36.03% return, which is significantly lower than CBTO's -8.14% return.

SOEZ

• 1D: -0.01%
• 1M: 3.02%
• 6M: -46.25%
• YTD: -36.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBTO

• 1D: 0.15%
• 1M: 0.20%
• 6M: -12.06%
• YTD: -8.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOEZ vs. CBTO - Yearly Performance Comparison

	2026 (YTD)	2025
SOEZ Franklin Solana ETF	-36.03%	-11.69%
CBTO Calamos Bitcoin 80 Series Structured Alt Protection ETF - October	-8.14%	-2.35%

Correlation

The correlation between SOEZ and CBTO is 0.75, 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 Dec 3, 2025	0.75

Return for Risk

SOEZ vs. CBTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Solana ETF (SOEZ) and Calamos Bitcoin 80 Series Structured Alt Protection ETF - October (CBTO). 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.

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

Drawdowns

SOEZ vs. CBTO - Drawdown Comparison

The maximum SOEZ drawdown since its inception was -56.14%, which is greater than CBTO's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for SOEZ and CBTO.

Drawdown Indicators

	SOEZ	CBTO	Difference
Max Drawdown Largest peak-to-trough decline	-56.14%	-21.27%	-34.87%
Current Drawdown Current decline from peak	-46.25%	-21.00%	-25.25%
Average Drawdown Average peak-to-trough decline	-34.03%	-15.75%	-18.28%

Volatility

Volatility by Period

	SOEZ	CBTO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	70.42%	11.91%	+58.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.42%	11.91%	+58.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.42%	11.91%	+58.51%

SOEZ vs. CBTO - Expense Ratio Comparison

SOEZ has a 0.19% expense ratio, which is lower than CBTO's 0.69% expense ratio.

Dividends

SOEZ vs. CBTO - Dividend Comparison

SOEZ's dividend yield for the trailing twelve months is around 0.86%, more than CBTO's 0.24% yield.

Position	TTM	2025
CBTO Calamos Bitcoin 80 Series Structured Alt Protection ETF - October	0.24%	0.22%
SOEZ Franklin Solana ETF	0.86%	0.00%

Frequently Asked Questions

Can I hold both SOEZ and CBTO in my portfolio?

SOEZ and CBTO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SOEZ or CBTO?

On fees, SOEZ is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOEZ or CBTO?

SOEZ is cheaper with a 0.19% expense ratio, compared with 0.69% for CBTO.

Which ETF pays a higher dividend yield, SOEZ or CBTO?

SOEZ has the higher dividend yield at 0.86%, compared with 0.24% for CBTO.

What is the main difference between SOEZ and CBTO?

SOEZ is categorized as Cryptocurrency, while CBTO is Defined Outcome. They also come from different issuers: Franklin and Calamos. Their fees differ too: 0.19% for SOEZ and 0.69% for CBTO.