TDOG vs. CBOO

Last updated Jun 4, 2026

TDOG (21Shares Dogecoin ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - TDOG is a Cryptocurrency fund tracking the Dogecoin (DOGE), while CBOO is a Defined Outcome fund actively managed by Calamos. TDOG is passively managed, while CBOO is actively managed. A 0.52 correlation means they provide meaningful diversification when combined. TDOG charges 0.50%/yr vs 0.69%/yr for CBOO.

Performance

TDOG vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Dogecoin ETF (TDOG) and Calamos Bitcoin Structured Alt Protection ETF - October (CBOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TDOG

• 1D: -2.41%
• 1M: -17.01%
• YTD: —
• 6M: —
• 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)

TDOG vs. CBOO - Yearly Performance Comparison

	2026 (YTD)
TDOG 21Shares Dogecoin ETF	-26.19%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.23%

Correlation

The correlation between TDOG and CBOO is 0.52, 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 Jan 23, 2026	0.52

Return for Risk

TDOG vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Dogecoin ETF (TDOG) 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

	TDOG	CBOO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.85	-1.19	+0.34

Drawdowns

TDOG vs. CBOO - Drawdown Comparison

The maximum TDOG drawdown since its inception was -29.24%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for TDOG and CBOO.

Drawdown Indicators

	TDOG	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-29.24%	-2.34%	-26.90%
Current Drawdown Current decline from peak	-27.22%	-1.72%	-25.50%
Average Drawdown Average peak-to-trough decline	-20.46%	-1.61%	-18.85%

Volatility

Volatility by Period

	TDOG	CBOO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	67.14%	2.14%	+65.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.14%	2.14%	+65.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.14%	2.14%	+65.00%

TDOG vs. CBOO - Expense Ratio Comparison

TDOG has a 0.50% expense ratio, which is lower than CBOO's 0.69% expense ratio.

Dividends

TDOG vs. CBOO - Dividend Comparison

TDOG 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%
TDOG 21Shares Dogecoin ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDOG and CBOO in my portfolio?

TDOG and CBOO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TDOG or CBOO?

On fees, TDOG 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, TDOG or CBOO?

TDOG is cheaper with a 0.50% expense ratio, compared with 0.69% for CBOO.

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

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

What is the main difference between TDOG and CBOO?

TDOG is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: 21Shares and Calamos. Their fees differ too: 0.50% for TDOG and 0.69% for CBOO.