CBOJ vs CBTJ: Cap, Buffer & Days Left
As of Oct 13, 2026 CBTJ can fall 20.3% before its buffer engages and CBOJ 2.0%. Net assets on Oct 12, 2026: $16m for Calamos Bitcoin Structured Alt Protection ETF - January and $26m for Calamos Bitcoin 80 Series Structured Alt Protection ETF - January.
Both cost 0.69% a year; their one-year returns differ by 24.0 points; CBTJ is 1.6 times larger.
Points (pts) are percentage points.
| CBOJ | CBTJ | |
|---|---|---|
| Expense ratio | 0.69% | 0.69% |
| Net assets, as of Oct 12, 2026 | $16m | $26m |
| Total return, 1 year | −4.1% | −28.1% |
| What it tracks | Bitcoin | Bitcoin |
| Holdings in common | not published | |
| Index fall to the buffer | 5.7% | 24.6% |
CBOJ: reference +5.6% since period start, fund +1.6%; buffer −0 to floor; cap +7.9%; Full floor. Figures to Oct 13, 2026.
CBOJ: reference +5.6% since period start, fund +1.6%; buffer −0 to floor; cap +7.9%; Full floor. Figures to Oct 13, 2026.
CBTJ: reference +5.6% since period start, fund 0.0%; buffer −20 to floor; cap +37.2%; Full floor. Figures to Oct 13, 2026.
CBTJ: reference +5.6% since period start, fund 0.0%; buffer −20 to floor; cap +37.2%; Full floor. Figures to Oct 13, 2026.
Both are Calamos funds, so the difference between them is the terms rather than the house.
Where each one stands today
CBOJ resets first, on Jan 29, 2027, 108 days from now; CBTJ runs to Jan 29, 2027, 108 days. A fall from here reaches CBOJ’s buffer after 2.0% and CBTJ’s after 20.3%. Both track Bitcoin, so what separates them is where each is in its own period.
Performance, window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CBOJ | CBTJ | CBOJ | CBTJ |
| 3 months | +3.1% | +16.5% | −29.9 pts | −16.5 pts |
| 6 months | +2.1% | +5.0% | −10.7 pts | −7.8 pts |
| 1 year | −4.1% | −28.1% | +24.9 pts | +1.0 pts |
| Since launch Not the same days: CBOJ Jan 2025 · CBTJ Feb 2025 | +0.6% | −16.7% | +21.3 pts | −0.6 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →
On the same fields
As of Oct 13, 2026. Source: ETFIQ.
About CBOJ
The fund's price can fall 2.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 5.7% from today's level to the point where the buffer begins. Protection left, in index points: 99.6% of the 99.6% buffer still sits below today's Bitcoin level. 108 days remained on Oct 13, 2026. On Jan 29, 2027 the period ends and a new cap is set.
About CBTJ
The fund's price can fall 20.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 24.6% from today's level to the point where the buffer begins. Protection left, in index points: 79.7% of the 79.7% buffer still sits below today's Bitcoin level.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every figure from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every figure is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, CBOJ against CBTJ, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/cboj-vs-cbtj
ETFIQ. (Oct 13, 2026). CBOJ against CBTJ. Retrieved from https://etfiq.com/compare/buffer/cboj-vs-cbtj
[CBOJ against CBTJ (ETFIQ, Oct 13, 2026)](https://etfiq.com/compare/buffer/cboj-vs-cbtj)
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