XRPT vs. CBOO

Last updated Jun 5, 2026

XRPT (Volatility Shares 2x XRP ETF) and CBOO (Calamos Bitcoin Structured Alt Protection ETF - October) are both exchange-traded funds - XRPT is a Cryptocurrency fund actively managed by Volatility Shares, while CBOO is a Defined Outcome fund actively managed by Calamos. Both are actively managed. A 0.68 correlation means they provide meaningful diversification when combined. XRPT charges 0.94%/yr vs 0.69%/yr for CBOO.

Performance

XRPT vs. CBOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares 2x XRP ETF (XRPT) and Calamos Bitcoin Structured Alt Protection ETF - October (CBOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XRPT achieves a -70.47% return, which is significantly lower than CBOO's -0.02% return.

XRPT

• 1D: -4.67%
• 1M: -33.40%
• YTD: -70.47%
• 6M: -78.42%
• 1Y: -88.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CBOO

• 1D: 0.02%
• 1M: -0.06%
• YTD: -0.02%
• 6M: -0.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XRPT vs. CBOO - Yearly Performance Comparison

	2026 (YTD)	2025
XRPT Volatility Shares 2x XRP ETF	-70.47%	-67.41%
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	-0.02%	-1.62%

Correlation

The correlation between XRPT and CBOO is 0.68, 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 Oct 8, 2025	0.68

Return for Risk

XRPT vs. CBOO — Risk / Return Rank

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

XRPT

XRPT Risk / Return Rank: 3
XRPT Sharpe Ratio Rank: 4
XRPT Sortino Ratio Rank: 3
XRPT Omega Ratio Rank: 3
XRPT Calmar Ratio Rank: 1
XRPT 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.

XRPT vs. CBOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x XRP ETF (XRPT) and Calamos Bitcoin Structured Alt Protection ETF - October (CBOO). 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.

	XRPT	CBOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	—	—
Sortino ratio: Return per unit of downside risk	-1.02	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.93	—	—
Martin ratio: Return relative to average drawdown	-1.25	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XRPT	CBOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.60	-1.17	+0.57

Drawdowns

XRPT vs. CBOO - Drawdown Comparison

The maximum XRPT drawdown since its inception was -95.02%, which is greater than CBOO's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for XRPT and CBOO.

Drawdown Indicators

	XRPT	CBOO	Difference
Max Drawdown Largest peak-to-trough decline	-95.02%	-2.34%	-92.68%
Max Drawdown (1Y) Largest decline over 1 year	-95.02%	—	—
Current Drawdown Current decline from peak	-95.02%	-1.70%	-93.32%
Average Drawdown Average peak-to-trough decline	-63.11%	-1.61%	-61.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	70.46%	—	—

Volatility

Volatility by Period

	XRPT	CBOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	104.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	150.33%	2.14%	+148.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	149.19%	2.14%	+147.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	149.19%	2.14%	+147.05%

XRPT vs. CBOO - Expense Ratio Comparison

XRPT has a 0.94% expense ratio, which is higher than CBOO's 0.69% expense ratio.

Dividends

XRPT vs. CBOO - Dividend Comparison

XRPT's dividend yield for the trailing twelve months is around 5.26%, more than CBOO's 0.57% yield.

Position	TTM	2025
CBOO Calamos Bitcoin Structured Alt Protection ETF - October	0.57%	0.57%
XRPT Volatility Shares 2x XRP ETF	5.26%	1.23%

Frequently Asked Questions

Can I hold both XRPT and CBOO in my portfolio?

XRPT and CBOO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XRPT or CBOO?

On fees, CBOO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XRPT or CBOO?

CBOO is cheaper with a 0.69% expense ratio, compared with 0.94% for XRPT.

Which ETF pays a higher dividend yield, XRPT or CBOO?

XRPT has the higher dividend yield at 5.26%, compared with 0.57% for CBOO.

What is the main difference between XRPT and CBOO?

XRPT is categorized as Cryptocurrency, while CBOO is Defined Outcome. They also come from different issuers: Volatility Shares and Calamos. Their fees differ too: 0.94% for XRPT and 0.69% for CBOO.