VBNB vs. CBOL

Last updated Jun 30, 2026

VBNB (VanEck BNB ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - VBNB is a Cryptocurrency fund actively managed by VanEck, while CBOL is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.71 correlation means they provide meaningful diversification when combined.

Performance

VBNB vs. CBOL - Performance Comparison

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

VBNB

• 1D: -0.96%
• 1M: -12.62%
• 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)

VBNB vs. CBOL - Yearly Performance Comparison

	2026 (YTD)
VBNB VanEck BNB ETF	-12.60%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-0.83%

Correlation

The correlation between VBNB and CBOL is 0.71, 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 May 28, 2026	0.71

Return for Risk

VBNB vs. CBOL - Risk-Adjusted Trends Comparison

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

VBNB vs. CBOL - Drawdown Comparison

The maximum VBNB drawdown since its inception was -20.56%, which is greater than CBOL's maximum drawdown of -5.05%. Use the drawdown chart below to compare losses from any high point for VBNB and CBOL.

Drawdown Indicators

	VBNB	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-20.56%	-5.05%	-15.51%
Current Drawdown Current decline from peak	-19.47%	-4.89%	-14.58%
Average Drawdown Average peak-to-trough decline	-12.91%	-3.34%	-9.57%

Volatility

Volatility by Period

	VBNB	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	58.97%	3.78%	+55.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.97%	3.78%	+55.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.97%	3.78%	+55.19%

Dividends

VBNB vs. CBOL - Dividend Comparison

VBNB 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%
VBNB VanEck BNB ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both VBNB and CBOL in my portfolio?

VBNB and CBOL have a correlation of 0.71, 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, VBNB or CBOL?

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

What is the main difference between VBNB and CBOL?

VBNB is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: VanEck and Calamos.