Which resets first, CBTA or CBXA?

CBTA ends its outcome period on May 1, 2027 and CBXA on May 1, 2027. A new cap is set the day after each.

Which is cheaper, CBTA or CBXA?

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

CBTA vs CBXA: which one stands where?

As of Oct 1, 2026 CBTA can fall 29.7% before its buffer engages and CBXA 17.6%. Calamos Bitcoin 80 Series Structured Alt Protection ETF - April and Calamos Bitcoin 90 Series Structured Alt Protection ETF - April.

CBTAFull floor

CBTA: reference +18.1% since period start, fund +13.4%; buffer −20 to floor; cap +37.6%; Full floor.

CBXAFull floor

CBXA: reference +18.1% since period start, fund +8.8%; buffer −10 to floor; cap +22.7%; Full floor.

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

Where each one stands today

CBTA resets first, on May 1, 2027, 212 days from now; CBXA runs to May 1, 2027, 212 days. A fall from here reaches CBTA’s buffer after 29.7% and CBXA’s after 17.6%. 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	CBTA	CBXA	CBTA	CBXA
3 months	+21.7%	+13.4%	not available	not available
6 months	+14.5%	+8.1%	not available	not available
1 year	−23.6%	−18.5%	not available	not available

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

On the same fields

CBTA

Calamos Bitcoin 80 Series Structured Alt Protection ETF - April · Absorbs losses from 20.3% to 100.0% on Bitcoin and caps the gain at 37.6%, over a period ending May 1, 2027

CBXA

Calamos Bitcoin 90 Series Structured Alt Protection ETF - April · Absorbs losses from 10.3% to 100.0% on Bitcoin and caps the gain at 22.7%, over a period ending May 1, 2027

Issuer Calamos Calamos

Reference index Bitcoin Bitcoin

Buffer 20% to 100% 10% to 100%

Outcome period Apr 8, 2026 to May 1, 2027 Apr 8, 2026 to May 1, 2027

Days left 212 212

Starting cap +37.6% +22.7%

Can still gain not published not published

Fall before buffer 29.7% 17.6%

Protection left, index points 79.8% of 79.8% 89.7% of 89.7%

Index return this period +18.1% +18.1%

Fund return this period +13.4% +8.8%

State today Open Open

Expense ratio 0.69% 0.69%

Net assets $6m $5m

CBTA and CBXA on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CBTA in plain words

The fund's price can fall 29.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 32.5% from today's level to the point where the buffer begins. Protection left, in index points: 79.8% of the 79.8% buffer still sits below today's Bitcoin level. 212 days remained on Oct 1, 2026. On May 1, 2027 the period ends and a new cap is set.

CBXA in plain words

The fund's price can fall 17.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 24.0% from today's level to the point where the buffer begins. Protection left, in index points: 89.7% of the 89.7% buffer still sits below today's Bitcoin level.

Questions people ask

Which resets first, CBTA or CBXA?: CBTA ends its outcome period on May 1, 2027 and CBXA on May 1, 2027. A new cap is set the day after each.
Which is cheaper, CBTA or CBXA?: CBTA charges 0.69% a year and CBXA charges 0.69%, so CBTA is cheaper. Fees come from each fund's prospectus.

Other comparisons

CBTA vs CBOA CBXA vs CBOA

CBTA on its own →CBXA on its own →How every figure is computed →Standards and sources →

Where these figures came from

CBTA and CBXA 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, CBTA against CBXA, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cbta-vs-cbxa

Open data

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