CBTA ETF — Calamos Bitcoin 80 Series Structured Alt Protection ETF

Calamos Bitcoin 80 Series Structured Alt Protection ETF (CBTA)

Updated October 16, 2026.

CBTA is an ETF. its trailing-12-month yield is 1.02%, its expense ratio is 0.69%. Dividend Vision Distribution Safety Score™ is 29/100 (Unproven). Total return is -1.8% over the past 1.5 years, 55.6 points behind SPY at 53.8%.

Calamos Bitcoin 80 Series Structured Alt Protection ETF is an actively managed ETF that tracks the positive price return of spot bitcoin up to a capped level over approximately one-year periods, while seeking to limit losses from bitcoin price declines exceeding 20%. The fund carries an expense ratio of 0.69% and currently distributes annually, though its latest distribution was special and may not recur. This structure appeals to investors seeking bitcoin exposure with defined downside protection and upside participation rather than traditional buy-and-hold crypto investment.

CBTA performance versus SPY

Price and return data through 2026-10-16.

Total return is -1.8% over the past 1.5 years, 55.6 points behind SPY at 53.8%. Over the past year its total return — price change plus distributions reinvested — is -21.6%. Its deepest 1-year drawdown was 38.4%.

CBTA key facts

Distribution Safety Score™

29 · Unproven

Issuer

Calamos Investments

Asset type

ETF

Asset class

Crypto

Inception date

04/07/2025

Expense ratio

0.69%

Distribution frequency

Annual

Trailing yield

1.02%

Last close

$24.36 (as of 2026-10-16)

AUM

$6,160,932

Average volume

10.0

Dividend

$0.248

Ex-dividend date

12/12/2025

Beta

1.0988

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 (1.02%) 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.

CBTA 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 38.4%.

Who may consider CBTA — and who may not

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

More on CBTA

• All tickers starting with C

Tagged: Bitcoin, Crypto, Single.

Frequently asked questions

More securities from Calamos Investments.