VSOL vs. CBTJ

Last updated Jun 4, 2026

VSOL (VanEck Solana ETF) and CBTJ (Calamos Bitcoin 80 Series Structured Alt Protection ETF - January) are both exchange-traded funds - VSOL is a Cryptocurrency fund actively managed by VanEck, while CBTJ is a Blockchain fund actively managed by Calamos. Both are actively managed. Their correlation of 0.86 suggests significant overlap in exposure. VSOL charges 0.30%/yr vs 0.69%/yr for CBTJ.

Performance

VSOL vs. CBTJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Solana ETF (VSOL) and Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSOL achieves a -40.84% return, which is significantly lower than CBTJ's -16.58% return.

VSOL

• 1D: -4.61%
• 1M: -14.43%
• YTD: -40.84%
• 6M: -47.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBTJ

• 1D: -1.44%
• 1M: -10.52%
• YTD: -16.58%
• 6M: -22.65%
• 1Y: -30.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VSOL vs. CBTJ - Yearly Performance Comparison

	2026 (YTD)	2025
VSOL VanEck Solana ETF	-40.84%	-4.01%
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January	-16.58%	-7.30%

Correlation

The correlation between VSOL and CBTJ is 0.86, 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 Nov 18, 2025	0.86

Return for Risk

VSOL vs. CBTJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBTJ

CBTJ Risk / Return Rank: 2
CBTJ Sharpe Ratio Rank: 1
CBTJ Sortino Ratio Rank: 1
CBTJ Omega Ratio Rank: 1
CBTJ Calmar Ratio Rank: 2
CBTJ Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VSOL vs. CBTJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Solana ETF (VSOL) and Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ). 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

	VSOL	CBTJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-1.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.90	-0.80	-0.10

Drawdowns

VSOL vs. CBTJ - Drawdown Comparison

The maximum VSOL drawdown since its inception was -50.27%, which is greater than CBTJ's maximum drawdown of -39.12%. Use the drawdown chart below to compare losses from any high point for VSOL and CBTJ.

Drawdown Indicators

	VSOL	CBTJ	Difference
Max Drawdown Largest peak-to-trough decline	-50.27%	-39.12%	-11.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-39.12%	—
Current Drawdown Current decline from peak	-50.27%	-39.12%	-11.15%
Average Drawdown Average peak-to-trough decline	-28.83%	-15.13%	-13.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.62%	—

Volatility

Volatility by Period

	VSOL	CBTJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	72.67%	27.13%	+45.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.67%	25.64%	+47.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.67%	25.64%	+47.03%

VSOL vs. CBTJ - Expense Ratio Comparison

VSOL has a 0.30% expense ratio, which is lower than CBTJ's 0.69% expense ratio.

Dividends

VSOL vs. CBTJ - Dividend Comparison

VSOL has not paid dividends to shareholders, while CBTJ's dividend yield for the trailing twelve months is around 1.74%.

Position	TTM	2025
CBTJ Calamos Bitcoin 80 Series Structured Alt Protection ETF - January	1.74%	1.45%
VSOL VanEck Solana ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSOL and CBTJ in my portfolio?

VSOL and CBTJ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VSOL or CBTJ?

On fees, VSOL is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VSOL or CBTJ?

VSOL is cheaper with a 0.30% expense ratio, compared with 0.69% for CBTJ.

Which ETF pays a higher dividend yield, VSOL or CBTJ?

CBTJ has the higher dividend yield at 1.74%, compared with 0.00% for VSOL.

What is the main difference between VSOL and CBTJ?

VSOL is categorized as Cryptocurrency, while CBTJ is Blockchain. They also come from different issuers: VanEck and Calamos. Their fees differ too: 0.30% for VSOL and 0.69% for CBTJ.