CBTYCalamos Bitcoin 80 Series Structured Alt Protection ETF - July
By Calamos · Launched 2025
0.69%
#3,463 of 5,562 · average
$14M
#4,601 of 5,562 · small
N/A
11 months
#4,553 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 3 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
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Strategy
- The Fund employs an actively managed strategy that utilizes options referencing the price performance of underlying exchange-traded products (ETPs) that own bitcoin, as well as cash and U.S. Treasury securities, to achieve its investment objective. It aims to provide capital protection against declines in Spot bitcoin while allowing for upside participation up to a specified cap, determined at the start of each Outcome Period.
- Inception date
- July 8, 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
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Data updated on 2026-06-19