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Dividend Vision

CBXL ETF — Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF

Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBXL)

CBXL is an ETF that tracks the Bitcoin. As of August 19, 2026, its distribution rate is 6.33%, its trailing-12-month yield is 1.58%, its expense ratio is 0.79%. Dividend Vision Distribution Safety Score™ is 50/100 (Caution). Fund total return is -18.1% over the past 0.8 years, 24.6 points ahead of IBIT at -42.7%.

At the current 6.33% distribution rate, a $10,000 investment would generate approximately $633 per year, or $52.75 per month on an equivalent basis.

Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF is an ETF that provides Bitcoin exposure through a laddered portfolio of four underlying Calamos Bitcoin structured protection ETFs, with each outcome period spanning roughly one year and designed to cap upside potential while providing defined downside buffers. The fund carries a modest expense ratio of 0.79% and currently generates a high distribution rate. This ETF appeals to investors seeking Bitcoin exposure with structured downside protection rather than traditional buy-and-hold cryptocurrency investment.

CBXL dividend yield and income

Data as of August 19, 2026.

The distribution rate (6.33%) is the latest posted forward yield, paid none. Trailing-12-month yield (1.58%) is the last year of payments divided by the current price. The last dividend was $0.3160. The last ex-dividend date was 12/23/2025. At 6.33%, $10,000 would generate about $633 a year ($52.75 monthly-equivalent).

1 payments
Ex-dateAmountvs year-ago payment
2025-12-23$0.316—
2025 total$0.316—

CBXL performance versus IBIT

Data as of August 19, 2026.

Fund total return is -18.1% over the past 0.8 years, 24.6 points ahead of IBIT at -42.7%. Its deepest 1-year drawdown was 20.0%.

WindowTotal returnCAGR
Since inception (0.8 years)-18.1%—

CBXL key facts

Data as of August 19, 2026.

Distribution Safety Score™
50 · Caution
Issuer
Calamos Investments
Asset type
ETF
Asset class
Equity
Inception date
10/14/2025
Expense ratio
0.79%
Distribution rate
6.33%
Distribution frequency
None
Trailing yield
1.58%
Last close
$19.99
AUM
$1,496,228
Average volume
9.0
Last dividend
$0.3160
Ex-dividend date
12/23/2025
Beta
0.4514

How Dividend Vision calculates yield and returns

Distribution rate (6.33%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (1.58%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Calamos Investments fund 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

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 does not currently distribute). This is educational context, not a recommendation to buy or sell.

Frequently asked questions

Does CBXL pay monthly?

No. CBXL does not currently distribute.

What index does CBXL track?

CBXL tracks the Bitcoin.

What is CBXL's expense ratio?

CBXL's expense ratio is 0.79%.

What is CBXL's dividend yield?

CBXL currently yields 6.33%, with a 0.79% expense ratio.

When does CBXL pay a dividend?

CBXL does not currently distribute. The last dividend was $0.3160. The last ex-dividend date was 12/23/2025.

How has CBXL performed?

Fund total return is -18.1% over the past 0.8 years, 24.6 points ahead of IBIT at -42.7%. Its deepest 1-year drawdown was 20.0%.

Is CBXL a good investment?

CBXL's Dividend Vision Distribution Safety Score is 50 (Caution). That is a risk signal, not investment advice. It currently yields 6.33%. Compare peers below rather than treating any single figure as a buy or sell.

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