CBTJ vs CBXJ: Cap, Buffer & Days Left
As of Oct 13, 2026 CBTJ can fall 20.4% before its buffer engages and CBXJ 11.0%. Net assets on Oct 13, 2026: $26m for Calamos Bitcoin 80 Series Structured Alt Protection ETF - January and $19m for Calamos Bitcoin 90 Series Structured Alt Protection ETF - January.
Both cost 0.69% a year; their one-year returns differ by 7.8 points; CBTJ is 1.4 times larger.
Points (pts) are percentage points.
| CBTJ | CBXJ | |
|---|---|---|
| Expense ratio | 0.69% | 0.69% |
| Net assets | $26m | $19m |
| Total return, 1 year | −27.3% | −19.5% |
| What it tracks | Bitcoin | Bitcoin |
| Holdings in common | not published | |
| Index fall to the buffer | 24.6% | 15.1% |
CBTJ: reference +5.6% since period start, fund +0.1%; buffer −20 to floor; cap +37.2%; Full floor. Figures to Oct 13, 2026.
CBTJ: reference +5.6% since period start, fund +0.1%; buffer −20 to floor; cap +37.2%; Full floor. Figures to Oct 13, 2026.
CBXJ: reference +5.6% since period start, fund +0.7%; buffer −10 to floor; cap +21.9%; Full floor. Figures to Oct 13, 2026.
CBXJ: reference +5.6% since period start, fund +0.7%; buffer −10 to floor; cap +21.9%; 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
CBTJ resets first, on Jan 29, 2027, 108 days from now; CBXJ runs to Jan 29, 2027, 108 days. A fall from here reaches CBTJ’s buffer after 20.4% and CBXJ’s after 11.0%. 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 | CBTJ | CBXJ | CBTJ | CBXJ |
| 3 months | +15.5% | +9.3% | −13.4 pts | −19.6 pts |
| 6 months | +5.3% | +3.6% | −6.7 pts | −8.3 pts |
| 1 year | −27.3% | −19.5% | +0.9 pts | +8.7 pts |
| Since launch CBTJ Feb 2025 · CBXJ Feb 2025 | −16.2% | −10.2% | −0.5 pts | +5.5 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 CBTJ
The fund's price can fall 20.4% 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. 108 days remained on Oct 13, 2026. On Jan 29, 2027 the period ends and a new cap is set.
About CBXJ
The fund's price can fall 11.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 15.1% from today's level to the point where the buffer begins. Protection left, in index points: 89.6% of the 89.6% 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, CBTJ against CBXJ, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/cbtj-vs-cbxj
ETFIQ. (Oct 13, 2026). CBTJ against CBXJ. Retrieved from https://etfiq.com/compare/buffer/cbtj-vs-cbxj
[CBTJ against CBXJ (ETFIQ, Oct 13, 2026)](https://etfiq.com/compare/buffer/cbtj-vs-cbxj)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.