CBOXCalamos Tax-Aware Collateral ETF
Seeks capital appreciation by investing in FLEX options box spreads.
By Calamos · Launched 2026
0.14%
#654 of 5,562 · low cost
$939M
#1,149 of 5,562 · large
—
2 months
#5,391 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundRisk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst 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 capital appreciation by investing in FLEX options box spreads.
- Strategy
- Actively managed, the Fund constructs box spreads using FLEX options on SPY — pairing synthetic long and synthetic short option positions — to target risk-free-rate-like returns. Designed for use as tax-aware cash collateral, economically similar to short-duration Treasuries.
- Inception date
- April 16, 2026
- 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
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Data updated on 2026-06-19