# CBOA (Calamos Bitcoin Structured Alt Protection ETF - April)

Calamos · Buffer ETFs · data as of Sep 12, 2026

As of Sep 12, 2026, CBOA sits between its buffer and its cap, with Bitcoin up 8.6% since the period began.

## Key facts

- CBOA, fall before the buffer: 2.6%, as of Sep 12, 2026.
- CBOA, protection left, index points: 99.8%, as of Sep 12, 2026.
- CBOA, days to reset: 231, as of Sep 12, 2026.
- CBOA, net assets: $5m (source, as filed for Apr 30, 2026).
- CBOA, expense ratio: 0.69% (issuer page, Sep 12, 2026).
- CBOA, reference index: Bitcoin, as of Sep 12, 2026.

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | Bitcoin | ETFIQ |
| Buffer | 0% to 100% | ETFIQ |
| Outcome period | Apr 8, 2026 to May 1, 2027 | ETFIQ |
| Starting cap | +9.4% | ETFIQ |
| Bitcoin return since period start | +8.6% | ETFIQ |
| Fund return since period start | +2.4% | ETFIQ |
| Net assets | $5m | source, as filed for Apr 30, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | not published | issuer, fund price |
| Fall before buffer | 2.6% | issuer, fund price |
| Fall to the buffer in index terms | 8.2% | ETFIQ |
| Protection left in index points | 99.8% of 99.8% | ETFIQ |
| Days left in period | 231 | ETFIQ |
| Expense ratio | 0.69% | issuer page, Sep 12, 2026 |

## Questions

### How far can CBOA fall before the buffer helps?

2.6% in fund-price terms on Sep 12, 2026, by the issuer's figure. In index terms Bitcoin can fall 8.2% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the CBOA buffer is left?

99.8% of the 99.8% buffer sat below the Bitcoin level on Sep 12, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does CBOA reset?

The outcome period ends on May 1, 2027, 231 days from the data on Sep 12, 2026. A new cap is set the next day and the buffer starts again.

### What does CBOA cost?

The prospectus expense ratio is 0.69% a year.


## Cite this page

ETFIQ, CBOA, data as of Sep 12, 2026. https://etfiq.com/funds/CBOA
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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