CBOJCalamos Bitcoin Structured Alt Protection ETF - January
Seeks to provide investment results that track the positive price return of the CME CF Bitcoin Reference Rate — New York Variant before fees and expenses.
By Calamos · Launched 2025
0.69%
#3,463 of 5,562 · average
$20M
#4,341 of 5,562 · small
-4.1%
1 year
#4,113 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundAsset class
AlternativeStrategy
Structured outcome
Index tracked
CME CF Bitcoin Reference Rate - New York Variant
What it actually holds
By weightConcentration
Top 2 holdings = 0.0% of fund✓ well diversified
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks to provide investment results that track the positive price return of the CME CF Bitcoin Reference Rate — New York Variant before fees and expenses.
- Strategy
- Actively managed ETF that seeks to track the positive price return of Spot bitcoin up to a cap of 11.65% over a one-year outcome period while providing protection against decreases in Spot bitcoin price. Investments include options, cash, and U.S. Treasuries.
- Inception date
- January 22, 2025
- Fund family
- Calamos
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Buffer ETF — downside protection at a cost
Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.
Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)
Why we flagged this: strategy=structured_outcome + structured_outcome_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
What's next?
You've reviewed CBOJ. Save it to your watchlist to track it alongside the other funds you're weighing.
Data updated on 2026-06-19