XRPC vs. CBOL

Last updated Jun 4, 2026

XRPC (Canary XRP ETF) and CBOL (Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF) are both exchange-traded funds - XRPC is a Cryptocurrency fund actively managed by Canary Capital, while CBOL is a Defined Outcome fund actively managed by Calamos. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. XRPC charges 0.50%/yr vs 0.79%/yr for CBOL.

Performance

XRPC vs. CBOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canary XRP ETF (XRPC) 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

In the year-to-date period, XRPC achieves a -34.29% return, which is significantly lower than CBOL's -2.03% return.

XRPC

• 1D: -1.39%
• 1M: -14.06%
• YTD: -34.29%
• 6M: -45.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOL

• 1D: -0.13%
• 1M: -0.78%
• YTD: -2.03%
• 6M: -2.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XRPC vs. CBOL - Yearly Performance Comparison

	2026 (YTD)	2025
XRPC Canary XRP ETF	-34.29%	-20.79%
CBOL Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF	-2.03%	-1.03%

Correlation

The correlation between XRPC and CBOL is 0.84, 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 14, 2025	0.84

Return for Risk

XRPC vs. CBOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canary XRP ETF (XRPC) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XRPC	CBOL	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.92	-1.80	+0.87

Drawdowns

XRPC vs. CBOL - Drawdown Comparison

The maximum XRPC drawdown since its inception was -48.85%, which is greater than CBOL's maximum drawdown of -4.91%. Use the drawdown chart below to compare losses from any high point for XRPC and CBOL.

Drawdown Indicators

	XRPC	CBOL	Difference
Max Drawdown Largest peak-to-trough decline	-48.85%	-4.91%	-43.94%
Current Drawdown Current decline from peak	-48.24%	-4.64%	-43.60%
Average Drawdown Average peak-to-trough decline	-29.50%	-3.21%	-26.29%

Volatility

Volatility by Period

	XRPC	CBOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	75.88%	3.88%	+72.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.88%	3.88%	+72.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.88%	3.88%	+72.00%

XRPC vs. CBOL - Expense Ratio Comparison

XRPC has a 0.50% expense ratio, which is lower than CBOL's 0.79% expense ratio.

Dividends

XRPC vs. CBOL - Dividend Comparison

XRPC 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%
XRPC Canary XRP ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both XRPC and CBOL in my portfolio?

XRPC and CBOL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XRPC or CBOL?

On fees, XRPC 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, XRPC or CBOL?

XRPC is cheaper with a 0.50% expense ratio, compared with 0.79% for CBOL.

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

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

What is the main difference between XRPC and CBOL?

XRPC is categorized as Cryptocurrency, while CBOL is Defined Outcome. They also come from different issuers: Canary Capital and Calamos. Their fees differ too: 0.50% for XRPC and 0.79% for CBOL.