TKNS vs. CBOL

Last updated Jun 30, 2026

TKNS (21Shares Active Crypto ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - TKNS is a Cryptocurrency fund actively managed by 21Shares, while CBOL is a Defined Outcome fund actively managed by Calamos. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure.

Performance

TKNS vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Active Crypto ETF (TKNS) and Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TKNS

• 1D: 1.33%
• 1M: -13.52%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOL

• 1D: -0.02%
• 1M: -0.74%
• YTD: -2.28%
• 6M: -2.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TKNS vs. CBOL - Yearly Performance Comparison

	2026 (YTD)
TKNS 21Shares Active Crypto ETF	-18.01%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-1.04%

Correlation

The correlation between TKNS and CBOL is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 14, 2026	0.81

Return for Risk

TKNS vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Active Crypto ETF (TKNS) and Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBOL). 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

TKNS vs. CBOL - Drawdown Comparison

The maximum TKNS drawdown since its inception was -22.36%, which is greater than CBOL's maximum drawdown of -5.05%. Use the drawdown chart below to compare losses from any high point for TKNS and CBOL.

Drawdown Indicators

	TKNS	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-22.36%	-5.05%	-17.31%
Current Drawdown Current decline from peak	-19.70%	-4.89%	-14.81%
Average Drawdown Average peak-to-trough decline	-12.49%	-3.34%	-9.15%

Volatility

Volatility by Period

	TKNS	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	46.24%	3.78%	+42.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.24%	3.78%	+42.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.24%	3.78%	+42.46%

Dividends

TKNS vs. CBOL - Dividend Comparison

TKNS has not paid dividends to shareholders, while CBOL's dividend yield for the trailing twelve months is around 1.83%.

Position	TTM	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.83%	1.79%
TKNS 21Shares Active Crypto ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TKNS and CBOL in my portfolio?

TKNS and CBOL have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, TKNS or CBOL?

CBOL has the higher dividend yield at 1.83%, compared with 0.00% for TKNS.

What is the main difference between TKNS and CBOL?

TKNS is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: 21Shares and Calamos.