VAVX vs. CBOL

Last updated Aug 5, 2026

VAVX (VanEck Avalanche ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - VAVX is a Cryptocurrency fund tracking the MarketVector Avalanche Benchmark Rate, while CBOL is a Defined Outcome fund actively managed by Calamos. VAVX is passively managed, while CBOL is actively managed. Their 0.75 correlation means they have sometimes moved together and sometimes differently. VAVX charges 0.20%/yr vs 0.79%/yr for CBOL.

Performance

VAVX vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Avalanche ETF (VAVX) 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

VAVX

• 1D: 2.35%
• 1M: 0.28%
• 6M: -32.90%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CBOL

• 1D: 0.04%
• 1M: 0.34%
• 6M: -0.55%
• YTD: -1.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	$23.76K	$29.60K	$17.43K
VAVX VanEck Avalanche ETF	$35.40K	$50.88K	$60.33K

VAVX vs. CBOL - Yearly Performance Comparison

	2026 (YTD)
VAVX VanEck Avalanche ETF	-42.52%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.06%

Correlation

The correlation between VAVX and CBOL is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 26, 2026	0.75

Return for Risk

VAVX vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Avalanche ETF (VAVX) 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

VAVX vs. CBOL - Drawdown Comparison

The maximum VAVX drawdown since its inception was -48.92%, which is greater than CBOL's maximum drawdown of -5.05%. Use the drawdown chart below to compare losses from any high point for VAVX and CBOL.

Drawdown Indicators

	VAVX	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-48.92%	-5.05%	-43.87%
Current Drawdown Current decline from peak	-43.32%	-4.40%	-38.92%
Average Drawdown Average peak-to-trough decline	-28.95%	-3.49%	-25.46%

Volatility

Volatility by Period

	VAVX	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	62.78%	3.64%	+59.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.78%	3.64%	+59.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.78%	3.64%	+59.14%

VAVX vs. CBOL - Expense Ratio Comparison

VAVX has a 0.20% expense ratio, which is lower than CBOL's 0.79% expense ratio.

Dividends

VAVX vs. CBOL - Dividend Comparison

VAVX's dividend yield for the trailing twelve months is around 1.22%, less than CBOL's 1.82% yield.

Position	TTM	2025
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	1.82%	1.79%
VAVX VanEck Avalanche ETF	1.22%	0.00%

Frequently Asked Questions

Can I hold both VAVX and CBOL in my portfolio?

VAVX and CBOL 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, VAVX or CBOL?

On fees, VAVX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAVX or CBOL?

VAVX is cheaper with a 0.20% expense ratio, compared with 0.79% for CBOL.

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

CBOL has the higher dividend yield at 1.82%, compared with 1.22% for VAVX.

What is the main difference between VAVX and CBOL?

VAVX is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: VanEck and Calamos. Their fees differ too: 0.20% for VAVX and 0.79% for CBOL.