CBTY ETF — Calamos Bitcoin 80 Series Structured Alt Protection ETF - July

Calamos Bitcoin 80 Series Structured Alt Protection ETF - July (CBTY)

Updated October 16, 2026.

CBTY is an ETF. its trailing-12-month yield is 1.44%, its expense ratio is 0.69%. Dividend Vision Distribution Safety Score™ is 38/100 (Unproven). Total return is -9.3% over the past 1.3 years, 34.0 points behind SPY at 24.7%.

Calamos Bitcoin 80 Series Structured Alt Protection ETF - July is an actively managed ETF that tracks the positive price return of spot bitcoin up to a cap over approximately one year, while seeking to protect against bitcoin price declines exceeding 20%. The fund has an expense ratio of 0.69% and makes distributions on an annual basis, with the latest distribution being a special one-time payout. This structure appeals to investors seeking bitcoin exposure with downside protection, though the capped upside and annual outcome periods create a defined-term investment structure distinct from traditional buy-and-hold crypto investments.

CBTY performance versus SPY

Price and return data through 2026-10-16.

Total return is -9.3% over the past 1.3 years, 34.0 points behind SPY at 24.7%. Its deepest 1-year drawdown was 24.5%.

CBTY key facts

Distribution Safety Score™

38 · Unproven

Issuer

Calamos Investments

Asset type

ETF

Asset class

Crypto

Inception date

07/08/2025

Expense ratio

0.69%

Distribution frequency

Annual

Trailing yield

1.44%

Last close

$22.38 (as of 2026-10-16)

AUM

$5,635,691

Average volume

2310.0

Dividend

$0.323

Ex-dividend date

12/12/2025

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 (1.44%) 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.

CBTY 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 24.5%.

Who may consider CBTY — and who may not

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

More on CBTY

• All tickers starting with C

Tagged: Bitcoin, Crypto, Single.

Frequently asked questions

More securities from Calamos Investments.