{
 "ticker": "CBTL",
 "name": "Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF",
 "issuer": "Calamos",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/cbtl",
 "html": "https://etfiq.com/funds/cbtl",
 "markdown": "https://etfiq.com/funds/cbtl.md",
 "as_of": "2026-10-09",
 "verdict": "As of Oct 9, 2026, CBTL's 4 sleeves publish no remaining cap and can fall 24.3% before their buffers.",
 "key_facts": [
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "24.3%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "CBTL, fall before the buffers, weighted: 24.3%, as of Oct 9, 2026."
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "79.8%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "CBTL, protection left, weighted, index points: 79.8%, as of Oct 9, 2026."
  },
  {
   "key": "days_to_the_next_reset",
   "label": "Days to the next reset",
   "value": "112",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "CBTL, days to the next reset: 112, as of Oct 9, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m on Jul 31, 2026",
   "source": "N-PORT",
   "as_of": "2026-10-09",
   "sentence": "CBTL, net assets: $3m on Jul 31, 2026 (N-PORT)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.79%",
   "source": "485BPOS XBRL, Nov 21, 2025",
   "as_of": "2026-10-09",
   "sentence": "CBTL, expense ratio: 0.79% (485BPOS XBRL, Nov 21, 2025)."
  },
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "Bitcoin",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "CBTL, reference index: Bitcoin, as of Oct 9, 2026."
  }
 ],
 "fields": [
  {
   "key": "kind",
   "label": "Kind",
   "value": "Laddered buffer ETF: a fund of 4 buffer ETFs",
   "source": null
  },
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "Bitcoin",
   "source": null
  },
  {
   "key": "sleeves",
   "label": "Sleeves",
   "value": "CBTJ, CBTA, CBTY, CBTO",
   "source": null
  },
  {
   "key": "sleeve_outcome_periods",
   "label": "Sleeve outcome periods",
   "value": "about 13 months each, ending on 4 different dates",
   "source": null
  },
  {
   "key": "weights",
   "label": "Weights",
   "value": "its report for Jul 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "share_of_net_assets_in_the_sleeves_etfiq_reads",
   "label": "Share of net assets in the sleeves ETFIQ reads",
   "value": "99.88%",
   "source": null
  },
  {
   "key": "can_still_gain_weighted",
   "label": "Can still gain, weighted",
   "value": "not read by ETFIQ",
   "source": "ETFIQ"
  },
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "24.3%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "79.8%",
   "source": "ETFIQ"
  },
  {
   "key": "next_sleeve_to_reset",
   "label": "Next sleeve to reset",
   "value": "CBTJ on Jan 29, 2027, in 112 days",
   "source": null
  },
  {
   "key": "days_left_weighted",
   "label": "Days left, weighted",
   "value": "249",
   "source": "ETFIQ"
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m on Jul 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.79%",
   "source": "485BPOS XBRL, Nov 21, 2025"
  },
  {
   "key": "sleeve_cbtj_24_69_of_net_assets",
   "label": "Sleeve CBTJ, 24.69% of net assets",
   "value": "Bitcoin, period ends Jan 29, 2027, can still gain not read by ETFIQ, fall before buffer 19.6%",
   "source": null
  },
  {
   "key": "sleeve_cbta_25_10_of_net_assets",
   "label": "Sleeve CBTA, 25.10% of net assets",
   "value": "Bitcoin, period ends Apr 30, 2027, can still gain not read by ETFIQ, fall before buffer 29.3%",
   "source": null
  },
  {
   "key": "sleeve_cbty_25_05_of_net_assets",
   "label": "Sleeve CBTY, 25.05% of net assets",
   "value": "Bitcoin, period ends Jul 30, 2027, can still gain not read by ETFIQ, fall before buffer 30.4%",
   "source": null
  },
  {
   "key": "sleeve_cbto_25_04_of_net_assets",
   "label": "Sleeve CBTO, 25.04% of net assets",
   "value": "Bitcoin, period ends Oct 29, 2027, can still gain not read by ETFIQ, fall before buffer 17.7%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+11.1%"
  },
  {
   "window": "6 months",
   "Total return": "+6.7%"
  },
  {
   "window": "Since launch",
   "Total return": "\u221219.4%"
  }
 ],
 "questions": [
  {
   "q": "What does CBTL hold?",
   "a": "CBTL holds 4 buffer ETFs: CBTJ, CBTA, CBTY, CBTO. Its N-PORT for Jul 31, 2026 puts 99.9% of its net assets in them."
  },
  {
   "q": "How much can CBTL still gain?",
   "a": "CBTL's sleeves publish no remaining cap as of Oct 9, 2026, so ETFIQ prints no weighted cap."
  },
  {
   "q": "When does CBTL reset?",
   "a": "CBTL itself does not reset. Each sleeve resets on its own date; the next is CBTJ on Jan 29, 2027, in 112 days."
  }
 ],
 "generated": "2026-10-09",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, CBTL, buffer ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/cbtl"
}