CBOLCalamos Laddered Bitcoin 90 Series Structured Alt Protection ETF
Seeks to provide exposure to the price of bitcoin.
By Calamos · Launched 2025
0.79%
#4,215 of 5,861 · expensive
$1M
#5,577 of 5,861 · small
N/A
10 months
#4,750 of 5,861 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundAsset class
AlternativeStrategy
Structured outcome
What it actually holds
By weightConcentration
Top 4 holdings = 99.8% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks to provide exposure to the price of bitcoin.
- Strategy
- Provides exposure to the price return of the CME CF Bitcoin Reference Rate while attempting to limit downside risk through a laddered portfolio of four Underlying ETFs. The Fund invests substantially all of its assets in these Underlying ETFs, which seek to provide returns that match the price return of bitcoin, up to a predetermined upside cap, while attempting to provide downside protection against 90% of negative price returns.
- Inception date
- October 13, 2025
- Fund family
- Calamos
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-04