{
 "ticker": "CBOA",
 "name": "Calamos Bitcoin Structured Alt Protection ETF - April",
 "issuer": "Calamos",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/cboa",
 "html": "https://etfiq.com/funds/cboa",
 "markdown": "https://etfiq.com/funds/cboa.md",
 "as_of": "2026-10-01",
 "verdict": "As of Oct 1, 2026, CBOA has reached its cap.",
 "key_facts": [
  {
   "key": "fall_before_the_buffer",
   "label": "Fall before the buffer",
   "value": "3.7%",
   "source": null,
   "as_of": "2026-10-01",
   "sentence": "CBOA, fall before the buffer: 3.7%, as of Oct 1, 2026."
  },
  {
   "key": "protection_left_index_points",
   "label": "Protection left, index points",
   "value": "99.7%",
   "source": null,
   "as_of": "2026-10-01",
   "sentence": "CBOA, protection left, index points: 99.7%, as of Oct 1, 2026."
  },
  {
   "key": "days_to_reset",
   "label": "Days to reset",
   "value": "212",
   "source": null,
   "as_of": "2026-10-01",
   "sentence": "CBOA, days to reset: 212, as of Oct 1, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$5m",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-10-01",
   "sentence": "CBOA, net assets: $5m (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.69%",
   "source": "issuer page, Oct 1, 2026",
   "as_of": "2026-10-01",
   "sentence": "CBOA, expense ratio: 0.69% (issuer page, Oct 1, 2026)."
  },
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "Bitcoin",
   "source": null,
   "as_of": "2026-10-01",
   "sentence": "CBOA, reference index: Bitcoin, as of Oct 1, 2026."
  }
 ],
 "fields": [
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "Bitcoin",
   "source": null
  },
  {
   "key": "buffer",
   "label": "Buffer",
   "value": "0% to 100%",
   "source": null
  },
  {
   "key": "outcome_period",
   "label": "Outcome period",
   "value": "Apr 8, 2026 to May 1, 2027",
   "source": null
  },
  {
   "key": "starting_cap",
   "label": "Starting cap",
   "value": "+9.4%",
   "source": null
  },
  {
   "key": "bitcoin_return_since_period_start",
   "label": "Bitcoin return since period start",
   "value": "+18.1%",
   "source": null
  },
  {
   "key": "fund_return_since_period_start",
   "label": "Fund return since period start",
   "value": "+3.5%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$5m",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "band_state_today",
   "label": "Band state today",
   "value": "At cap",
   "source": "ETFIQ"
  },
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "not published",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_before_buffer",
   "label": "Fall before buffer",
   "value": "3.7%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_to_the_buffer_in_index_terms",
   "label": "Fall to the buffer in index terms",
   "value": "15.6%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_in_index_points",
   "label": "Protection left in index points",
   "value": "99.7% of 99.7%",
   "source": "ETFIQ"
  },
  {
   "key": "days_left_in_period",
   "label": "Days left in period",
   "value": "212",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.69%",
   "source": "issuer page, Oct 1, 2026"
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+4.6%"
  },
  {
   "window": "6 months",
   "Total return": "+3.6%"
  },
  {
   "window": "1 year",
   "Total return": "\u22123.8%"
  }
 ],
 "questions": [
  {
   "q": "How much can CBOA still gain?",
   "a": "Nothing more in index terms on Oct 1, 2026. Bitcoin has already passed the cap of +9.4% for this period, which runs from Apr 8, 2026 to May 1, 2027."
  },
  {
   "q": "How far can CBOA fall before the buffer helps?",
   "a": "3.7% in fund-price terms on Oct 1, 2026, by the issuer's figure. In index terms Bitcoin can fall 15.6% from that level before the buffer begins. Losses until that point are the holder's."
  },
  {
   "q": "How much of the CBOA buffer is left?",
   "a": "99.7% of the 99.7% buffer sat below the Bitcoin level on Oct 1, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer."
  },
  {
   "q": "When does CBOA reset?",
   "a": "The outcome period ends on May 1, 2027, 212 days from the data on Oct 1, 2026. A new cap is set the next day and the buffer starts again."
  },
  {
   "q": "What does CBOA cost?",
   "a": "The prospectus expense ratio is 0.69% a year."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}