CBOL ETF — Calamos Laddered Bitcoin Structured Alt Protection ETF

Calamos Laddered Bitcoin Structured Alt Protection ETF (CBOL)

Updated October 16, 2026.

CBOL is an ETF. its trailing-12-month yield is 1.79%, its expense ratio is 0.79%. Dividend Vision Distribution Safety Score™ is 38/100 (Unproven). Total return is -2.3% over the past year, 18.8 points behind SPY at 16.5%.

Calamos Laddered Bitcoin Structured Alt Protection ETF provides exposure to the price return of spot bitcoin through a laddered portfolio of four underlying Calamos Bitcoin structured ETFs, designed to limit downside risk. The fund carries a moderate expense ratio of 0.79% annually and does not maintain a regular distribution schedule, though it recently made a special distribution. This ETF appeals to investors seeking bitcoin price exposure with downside protection mechanisms.

CBOL performance versus SPY

Price and return data through 2026-10-16.

Total return is -2.3% over the past year, 18.8 points behind SPY at 16.5%. Its deepest 1-year drawdown was 5.0%.

CBOL key facts

Distribution Safety Score™

38 · Unproven

Issuer

Calamos Investments

Asset type

ETF

Asset class

Crypto

Inception date

10/13/2025

Expense ratio

0.79%

Distribution frequency

Annual

Trailing yield

1.79%

Last close

$23.96 (as of 2026-10-16)

AUM

$2,408,180

Average volume

7.0

Dividend

$0.428

Ex-dividend date

12/23/2025

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.79%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Calamos Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

CBOL risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 5.0%.

Who may consider CBOL — and who may not

It is a weaker fit for investors who need monthly cash flow (CBOL pays annual); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on CBOL

• All tickers starting with C

Tagged: Bitcoin, Crypto, Single.

Frequently asked questions

More securities from Calamos Investments.