Which resets first, CBOJ or CBTJ?

CBOJ ends its outcome period on Jan 30, 2027 and CBTJ on Jan 30, 2027. A new cap is set the day after each.

Which is cheaper, CBOJ or CBTJ?

CBOJ charges 0.69% a year and CBTJ charges 0.69%, so CBOJ is cheaper. Fees come from each fund's prospectus.

CBOJ vs CBTJ: which one stands where?

As of Oct 1, 2026 CBTJ can fall 20.5% before its buffer engages and CBOJ 1.8%. Calamos Bitcoin Structured Alt Protection ETF - January and Calamos Bitcoin 80 Series Structured Alt Protection ETF - January.

CBOJFull floor

CBOJ: reference +6.7% since period start, fund +1.4%; buffer −0 to floor; cap +7.9%; Full floor.

CBTJFull floor

CBTJ: reference +6.7% since period start, fund +0.3%; buffer −20 to floor; cap +37.2%; Full floor.

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 30, 2027, 121 days from now; CBTJ runs to Jan 30, 2027, 121 days. A fall from here reaches CBOJ’s buffer after 1.8% and CBTJ’s after 20.5%. Both track Bitcoin, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	CBOJ	CBTJ	CBOJ	CBTJ
3 months	+3.6%	+18.8%	not available	not available
6 months	+2.7%	+9.6%	not available	not available
1 year	−3.7%	−26.6%	not available	not available

CBOJ and CBTJ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CBOJ

Calamos Bitcoin Structured Alt Protection ETF - January · Absorbs losses from 0.4% to 100.0% on Bitcoin and caps the gain at 7.9%, over a period ending Jan 30, 2027

CBTJ

Calamos Bitcoin 80 Series Structured Alt Protection ETF - January · Absorbs losses from 20.3% to 100.0% on Bitcoin and caps the gain at 37.2%, over a period ending Jan 30, 2027

Issuer Calamos Calamos

Reference index Bitcoin Bitcoin

Buffer 0% to 100% 20% to 100%

Outcome period Feb 2, 2026 to Jan 30, 2027 Feb 2, 2026 to Jan 30, 2027

Days left 121 121

Starting cap +7.9% +37.2%

Can still gain not published not published

Fall before buffer 1.8% 20.5%

Protection left, index points 99.6% of 99.6% 79.7% of 79.7%

Index return this period +6.7% +6.7%

Fund return this period +1.4% +0.3%

State today Open Open

Expense ratio 0.69% 0.69%

Net assets $16m $26m

CBOJ and CBTJ on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CBOJ in plain words

The fund's price can fall 1.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 6.7% 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. 121 days remained on Oct 1, 2026. On Jan 30, 2027 the period ends and a new cap is set.

CBTJ in plain words

The fund's price can fall 20.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 25.3% 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

Which resets first, CBOJ or CBTJ?: CBOJ ends its outcome period on Jan 30, 2027 and CBTJ on Jan 30, 2027. A new cap is set the day after each.
Which is cheaper, CBOJ or CBTJ?: CBOJ charges 0.69% a year and CBTJ charges 0.69%, so CBOJ is cheaper. Fees come from each fund's prospectus.

Other comparisons

CBOJ vs CBXJ CBTJ vs CBXJ

CBOJ on its own →CBTJ on its own →How every figure is computed →Standards and sources →

Where these figures came from

CBOJ and CBTJ filings on SEC EDGAR ↗Calamos website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, CBOJ against CBTJ, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cboj-vs-cbtj

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.