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CBTYCalamos Bitcoin 80 Series Structured Alt Protection ETF - July

Grow my moneyDiversifierNewRanked #171 of 240 in this goal

By Calamos · Launched 2025

Annual Cost

0.69%

#3,463 of 5,562 · average

Fund Size

$14M

#4,601 of 5,562 · small

Return (1Y)Goal

N/A

Track Record

11 months

#4,553 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$7,793-22.1%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Strategy

Structured outcome

Index tracked

CME CF Bitcoin Reference Rate - New York Variant

What it actually holds

By weight

Concentration

Top 3 holdings = 99.8% of fundconcentrated

United States Treasury
90.4%
BofA Securities, Inc.
9.9%
BofA Securities, Inc.
-0.6%

Asset allocation

Cash
98.0%
Stocks
2.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
N/A
Max drawdown
-26.8%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

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

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

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