CBTJ ETF — Calamos Bitcoin 80 Series Structured Alt Protection ETF - January

Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ)

Updated October 16, 2026.

CBTJ is an ETF. its trailing-12-month yield is 1.56%, its expense ratio is 0.69%. Dividend Vision Distribution Safety Score™ is 29/100 (Unproven). Total return is -17.6% over the past 1.7 years, 46.9 points behind SPY at 29.3%.

Calamos Bitcoin 80 Series Structured Alt Protection ETF - January is an ETF that invests substantially all its assets in short-term U.S. Treasury securities, cash equivalents, and options strategies designed to provide structured exposure to Bitcoin. The fund carries a modest expense ratio of 0.69% and makes annual distributions; note that its latest distribution was special or one-time and may not recur as a regular payment. This fund appeals to investors seeking Treasury-backed income with structured alternative exposure, rather than traditional growth or direct cryptocurrency investment.

CBTJ performance versus SPY

Price and return data through 2026-10-16.

Total return is -17.6% over the past 1.7 years, 46.9 points behind SPY at 29.3%. Over the past year its total return — price change plus distributions reinvested — is -24.7%. Its deepest 1-year drawdown was 38.9%.

CBTJ key facts

Distribution Safety Score™

29 · Unproven

Issuer

Calamos Investments

Asset type

ETF

Asset class

Fixed Income

Inception date

02/04/2025

Expense ratio

0.69%

Distribution frequency

Annual

Trailing yield

1.56%

Last close

$20.34 (as of 2026-10-16)

AUM

$25,951,863

Average volume

812.0

Dividend

$0.317

Ex-dividend date

12/12/2025

Beta

0.9724

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 (1.56%) 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.

CBTJ 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 38.9%.

Who may consider CBTJ — and who may not

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

More on CBTJ

• All tickers starting with C

Tagged: Bitcoin, Crypto, Single.

Frequently asked questions

More securities from Calamos Investments.