Which resets first, CBTO or CBXO?

CBTO ends its outcome period on Oct 7, 2026 and CBXO on Oct 7, 2026. A new cap is set the day after each.

Which is cheaper, CBTO or CBXO?

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

CBTO vs CBXO: which one stands where?

As of Oct 1, 2026 CBTO can fall 0.0% before its buffer engages and CBXO 0.0%. Calamos Bitcoin 80 Series Structured Alt Protection ETF - October and Calamos Bitcoin 90 Series Structured Alt Protection ETF - October.

CBTOBuffer working

CBTO: reference −30.8% since period start, fund −20.6%; buffer −21 to floor; cap +41.0%; Buffer working.

CBXOBuffer working

CBXO: reference −30.8% since period start, fund −10.7%; buffer −11 to floor; cap +22.3%; Buffer working.

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

Where each one stands today

CBTO resets first, on Oct 7, 2026, 6 days from now; CBXO runs to Oct 7, 2026, 6 days. A fall from here reaches CBTO’s buffer after 0.0% and CBXO’s after 0.0%. 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	CBTO	CBXO	CBTO	CBXO
3 months	+0.6%	+0.9%	not available	not available
6 months	−1.1%	+0.5%	not available	not available

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

On the same fields

CBTO

Calamos Bitcoin 80 Series Structured Alt Protection ETF - October · Absorbs losses from 20.6% to 100.0% on Bitcoin and caps the gain at 41.0%, over a period ending Oct 7, 2026

CBXO

Calamos Bitcoin 90 Series Structured Alt Protection ETF - October · Absorbs losses from 11.0% to 100.0% on Bitcoin and caps the gain at 22.3%, over a period ending Oct 7, 2026

Issuer Calamos Calamos

Reference index Bitcoin Bitcoin

Buffer 21% to 100% 11% to 100%

Outcome period Oct 7, 2025 to Oct 7, 2026 Oct 7, 2025 to Oct 7, 2026

Days left 6 6

Starting cap +41.0% +22.3%

Can still gain not published not published

Fall before buffer 0.0% 0.0%

Protection left, index points 69.2% of 79.4% 69.2% of 89.0%

Index return this period −30.8% −30.8%

Fund return this period −20.6% −10.7%

State today Buffer working Buffer working

Expense ratio 0.69% 0.69%

Net assets $19m $7m

CBTO and CBXO on the same fields, as of Oct 1, 2026. Source: ETFIQ.

CBTO in plain words

Protection left, in index points: 69.2% of the 79.4% buffer still sits below today's Bitcoin level. 6 days remained on Oct 1, 2026. On Oct 7, 2026 the period ends and a new cap is set.

CBXO in plain words

Protection left, in index points: 69.2% of the 89.0% buffer still sits below today's Bitcoin level.

Questions people ask

Which resets first, CBTO or CBXO?: CBTO ends its outcome period on Oct 7, 2026 and CBXO on Oct 7, 2026. A new cap is set the day after each.
Which is cheaper, CBTO or CBXO?: CBTO charges 0.69% a year and CBXO charges 0.69%, so CBTO is cheaper. Fees come from each fund's prospectus.

Other comparisons

CBTO vs CBOO CBXO vs CBOO

CBTO on its own →CBXO on its own →How every figure is computed →Standards and sources →

Where these figures came from

CBTO and CBXO 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, CBTO against CBXO, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/cbto-vs-cbxo

Open data

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