CBTJCalamos Bitcoin 80 Series 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
$22M
#4,293 of 5,562 · small
-31.7%
1 year
#4,144 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 = 5.6% 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 51.50% while providing protection against declines exceeding 20% over the Outcome Period. Investments include OTC Options, FLEX Options, and Listed Options referencing the price performance of Underlying ETPs and Bitcoin Indexes. The Fund's portfolio may also include U.S. Treasury securities, cash, and cash equivalents.
- Inception date
- February 4, 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 CBTJ. Save it to your watchlist to track it alongside the other funds you're weighing.
Data updated on 2026-06-20