SOLC vs. CBTO

Last updated Jun 24, 2026

SOLC (Canary Marinade Solana ETF) and CBTO (Calamos Bitcoin 80 Series Structured Alt Protection ETF - October) are both exchange-traded funds - SOLC is a Cryptocurrency fund actively managed by Canary, while CBTO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.76 correlation means they provide meaningful diversification when combined. SOLC charges 0.50%/yr vs 0.69%/yr for CBTO.

Performance

SOLC vs. CBTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canary Marinade Solana ETF (SOLC) 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, SOLC achieves a -42.93% return, which is significantly lower than CBTO's -8.41% return.

SOLC

• 1D: -5.21%
• 1M: -18.22%
• YTD: -42.93%
• 6M: -43.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBTO

• 1D: -0.05%
• 1M: -1.35%
• YTD: -8.41%
• 6M: -9.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOLC vs. CBTO - Yearly Performance Comparison

	2026 (YTD)	2025
SOLC Canary Marinade Solana ETF	-42.93%	-9.47%
CBTO Calamos Bitcoin 80 Series Structured Alt Protection ETF - October	-8.41%	-2.57%

Correlation

The correlation between SOLC and CBTO is 0.76, 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 Nov 18, 2025	0.76

Return for Risk

SOLC vs. CBTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canary Marinade Solana ETF (SOLC) 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

SOLC vs. CBTO - Drawdown Comparison

The maximum SOLC drawdown since its inception was -55.91%, which is greater than CBTO's maximum drawdown of -21.23%. Use the drawdown chart below to compare losses from any high point for SOLC and CBTO.

Drawdown Indicators

	SOLC	CBTO	Difference
Max Drawdown Largest peak-to-trough decline	-55.91%	-21.23%	-34.68%
Current Drawdown Current decline from peak	-52.06%	-21.23%	-30.83%
Average Drawdown Average peak-to-trough decline	-30.80%	-15.30%	-15.50%

Volatility

Volatility by Period

	SOLC	CBTO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	72.84%	12.38%	+60.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.84%	12.38%	+60.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.84%	12.38%	+60.46%

SOLC vs. CBTO - Expense Ratio Comparison

SOLC has a 0.50% expense ratio, which is lower than CBTO's 0.69% expense ratio.

Dividends

SOLC vs. CBTO - Dividend Comparison

SOLC has not paid dividends to shareholders, while CBTO's dividend yield for the trailing twelve months is around 0.24%.

Position	TTM	2025
CBTO Calamos Bitcoin 80 Series Structured Alt Protection ETF - October	0.24%	0.22%
SOLC Canary Marinade Solana ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOLC and CBTO in my portfolio?

SOLC and CBTO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SOLC or CBTO?

On fees, SOLC is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOLC or CBTO?

SOLC is cheaper with a 0.50% expense ratio, compared with 0.69% for CBTO.

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

CBTO has the higher dividend yield at 0.24%, compared with 0.00% for SOLC.

What is the main difference between SOLC and CBTO?

SOLC is categorized as Cryptocurrency, while CBTO is Defined Outcome. They also come from different issuers: Canary and Calamos. Their fees differ too: 0.50% for SOLC and 0.69% for CBTO.