Which resets first, CBOY or CBTY?

CBOY ends its outcome period on Jul 31, 2027 and CBTY on Jul 31, 2027. A new cap is set the day after each.

Which is cheaper, CBOY or CBTY?

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

CBOY vs CBTY: which one stands where?

As of Oct 1, 2026 CBTY can fall 30.6% before its buffer engages and CBOY 3.0%. Calamos Bitcoin Structured Alt Protection ETF - July and Calamos Bitcoin 80 Series Structured Alt Protection ETF - July.

CBOYAt its cap

CBOY: reference +34.9% since period start, fund +3.0%; buffer −0 to floor; cap +9.8%; At its cap.

CBTYFull floor

CBTY: reference +34.9% since period start, fund +15.2%; buffer −20 to floor; cap +37.8%; Full floor.

CBOY is already at its cap, so more rise in the index adds nothing to it before the period ends.

Both are Calamos funds, so the difference between them is the terms rather than the house.

Where each one stands today

CBOY resets first, on Jul 31, 2027, 303 days from now; CBTY runs to Jul 31, 2027, 303 days. A fall from here reaches CBOY’s buffer after 3.0% and CBTY’s after 30.6%. 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	CBOY	CBTY	CBOY	CBTY
3 months	+3.0%	+15.2%	not available	not available
6 months	+3.7%	+14.2%	not available	not available
1 year	+0.6%	−11.6%	not available	not available

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

On the same fields

CBOY

Calamos Bitcoin Structured Alt Protection ETF - July · Absorbs losses from 0.1% to 100.0% on Bitcoin and caps the gain at 9.8%, over a period ending Jul 31, 2027

CBTY

Calamos Bitcoin 80 Series Structured Alt Protection ETF - July · Absorbs losses from 20.1% to 100.0% on Bitcoin and caps the gain at 37.8%, over a period ending Jul 31, 2027

Issuer Calamos Calamos

Reference index Bitcoin Bitcoin

Buffer 0% to 100% 20% to 100%

Outcome period Jul 8, 2026 to Jul 31, 2027 Jul 8, 2026 to Jul 31, 2027

Days left 303 303

Starting cap +9.8% +37.8%

Can still gain not published not published

Fall before buffer 3.0% 30.6%

Protection left, index points 99.9% of 99.9% 79.9% of 79.9%

Index return this period +34.9% +34.9%

Fund return this period +3.0% +15.2%

State today At cap Open

Expense ratio 0.69% 0.69%

Net assets $5m $6m

CBOY and CBTY on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CBOY in plain words

Bitcoin had already risen past this fund's cap of +9.8% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's price can fall 3.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 26.0% from today's level to the point where the buffer begins. Protection left, in index points: 99.9% of the 99.9% buffer still sits below today's Bitcoin level. 303 days remained on Oct 1, 2026. On Jul 31, 2027 the period ends and a new cap is set.

CBTY in plain words

The fund's price can fall 30.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 40.8% from today's level to the point where the buffer begins. Protection left, in index points: 79.9% of the 79.9% buffer still sits below today's Bitcoin level.

Questions people ask

Which resets first, CBOY or CBTY?: CBOY ends its outcome period on Jul 31, 2027 and CBTY on Jul 31, 2027. A new cap is set the day after each.
Which is cheaper, CBOY or CBTY?: CBOY charges 0.69% a year and CBTY charges 0.69%, so CBOY is cheaper. Fees come from each fund's prospectus.

Other comparisons

CBOY vs CBXY CBTY vs CBXY

CBOY on its own →CBTY on its own →How every figure is computed →Standards and sources →

Where these figures came from

CBOY and CBTY 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, CBOY against CBTY, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cboy-vs-cbty

Open data

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