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CBXL ETF — Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF
Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBXL)
Updated October 16, 2026.
Verdict as of October 16, 2026
CBXL's distribution is rated unproven by the Dividend Vision Distribution Safety Score™ (38/100, medium confidence). The latest recorded payment is $0.316 (ex-date December 23, 2025).
Sources: Calamos Investments page for CBXL, Section 19a-1 notices, scoring methodology.
CBXL is an ETF linked to Bitcoin. its trailing-12-month yield is 1.49%, its expense ratio is 0.79%. Dividend Vision Distribution Safety Score™ is 38/100 (Unproven). Total return is -13.1% over the past year, 14.7 points ahead of IBIT at -27.8%.
Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF provides Bitcoin exposure through a laddered strategy using four underlying Calamos Bitcoin structured ETFs, designed to cap upside potential while implementing defined downside protection buffers across roughly one-year outcome periods. The fund carries an expense ratio of 0.79% and does not maintain a regular distribution schedule, though it has made special distributions. This structure appeals to investors seeking cryptocurrency exposure with embedded risk-management features rather than traditional growth or income-focused strategies.
CBXL dividend yield and income
Price as of 2026-10-16.
Trailing-12-month yield (1.49%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.316. The ex-dividend date is 12/23/2025.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2025-12-23 | $0.316 | — |
| 2025 total (partial launch year) | $0.316 | — |
CBXL holdings and sector exposure
Holdings are not available for this snapshot.
Economic / reference exposure: IBIT (physical holdings below may be collateral and options, not the reference asset itself).
CBXL performance versus IBIT
Price and return data through 2026-10-16.
Total return is -13.1% over the past year, 14.7 points ahead of IBIT at -27.8%. Its deepest 1-year drawdown was 20.0%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 1.8% | — |
| 3M | 6.4% | — |
| 6M | 3.7% | — |
| YTD | -4.3% | — |
| 1Y | -11.8% | — |
| Since inception (1 years) | -13.1% | -13.10% |
CBXL key facts
- Distribution Safety Score™
- 38 · Unproven
- Issuer
- Calamos Investments
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 10/14/2025
- Expense ratio
- 0.79%
- Distribution frequency
- Annual
- Trailing yield
- 1.49%
- Last close
- $21.20 (as of 2026-10-16)
- AUM
- $1,594,392
- Average volume
- 9.0
- Dividend
- $0.316
- Ex-dividend date
- 12/23/2025
- Beta
- 0.4514
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 (1.49%) 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 or company page; Fact sheet; Index: Bitcoin; 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.
CBXL risks and drawbacks
Payments are annual, so cash flow is lumpy versus a monthly fund. The deepest 1-year drawdown on record here is 20.0%.
Who may consider CBXL — and who may not
It is a weaker fit for investors who need monthly cash flow (CBXL pays annual). This is educational context, not a recommendation to buy or sell.
More on CBXL
Frequently asked questions
Does CBXL pay monthly?
No. CBXL currently pays annual, not monthly.
What is CBXL linked to?
CBXL is linked to Bitcoin, not a broad market index.
What is CBXL's expense ratio?
CBXL's expense ratio is 0.79%.
When does CBXL pay a dividend?
CBXL pays annual. The dividend amount is $0.316. The ex-dividend date is 12/23/2025.
How has CBXL performed?
Total return is -13.1% over the past year, 14.7 points ahead of IBIT at -27.8%. Its deepest 1-year drawdown was 20.0%.
Is CBXL a good investment?
CBXL's Dividend Vision Distribution Safety Score is 38 (Unproven). That is a risk signal, not investment advice. Compare peers below rather than treating any single figure as a buy or sell.
More securities from Calamos Investments.
Tickers
Holdings as-of date unavailable.
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