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Calamos Bitcoin Structured Alt Protection ETF - July (CBOY) Alternatives

ETF · Currency in USD · Last updated Jul 15, 2026

CBOY is a passive ETF by Calamos tracking the investment results of the CBOE Bitcoin US ETF Index. CBOY launched on Jul 8, 2025 and has a 0.69% expense ratio.

Calamos Bitcoin Structured Alt Protection ETF - July (CBOY) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with CBOY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to CBOY

CBOY charges 0.69% annually. There are 41 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.

SymbolNameExpense RatioAUMInception
JULB
Aptus July Buffer ETF0.25%—Oct 2025CBOY vs JULB
JANB
Aptus January Buffer ETF0.25%—Oct 2025CBOY vs JANB
APRB
Aptus April Buffer ETF0.25%—Oct 2025CBOY vs APRB
OCTB
Aptus October Buffer ETF0.25%—Oct 2025CBOY vs OCTB
FBUF
Fidelity Dynamic Buffered Equity ETF0.48%—Apr 2024CBOY vs FBUF

Best Risk-Adjusted Alternatives to CBOY

CBOY has a PortfoliosLab risk / return rank of 5. There are 237 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.

SymbolNameRisk / Return RankAUMInception
PMAP
PGIM S&P 500 Max Buffer ETF - April
99
—Mar 2025CBOY vs PMAP
CPSP
Calamos S&P 500 Structured Alt Protection ETF - Ap...
98
19.60MApr 2025CBOY vs CPSP
MMAX
iShares Large Cap Max Buffer Mar ETF
98
—Mar 2025CBOY vs MMAX
ZAPR
Innovator Equity Defined Protection ETF - 1 Yr Apr...
98
—Apr 2025CBOY vs ZAPR
XBAP
Innovator U.S. Equity Accelerated 9 Buffer ETF - A...
98
134.85MMar 2021CBOY vs XBAP

Top Performing CBOY Alternatives (YTD)

CBOY is at -0.37% YTD. There are 264 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.

SymbolNameYTD ReturnAUMInception
NVDO
Leverage Shares 2x Capped Accelerated NVDA Monthly...
16.35%
—Aug 2025CBOY vs NVDO
KFEB
Innovator U.S. Small Cap Power Buffer ETF - Februa...
13.68%
—Jan 2025CBOY vs KFEB
KAPR
Innovator Russell 2000 Power Buffer ETF - April
13.02%
214.51MMar 2020CBOY vs KAPR
QMAR
FT Cboe Vest Nasdaq-100 Buffer ETF - March
12.77%
568.10MMar 2021CBOY vs QMAR
QB
ProShares Nasdaq-100 Dynamic Daily Buffer ETF
12.67%
2.84MJun 2025CBOY vs QB

Lowest Volatility Alternatives to CBOY

CBOY has 3.21% 1-year volatility. There are 64 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.15%.

SymbolNameVolatility 1YAUMInception
PMAP
PGIM S&P 500 Max Buffer ETF - April1.15%—Mar 2025CBOY vs PMAP
APXM
FT Vest U.S. Equity Max Buffer ETF - April1.24%—Apr 2025CBOY vs APXM
PMMY
PGIM S&P 500 Max Buffer ETF - May1.31%—Apr 2025CBOY vs PMMY
CPSP
Calamos S&P 500 Structured Alt Protection ETF - Ap...1.34%19.60MApr 2025CBOY vs CPSP
MMAX
iShares Large Cap Max Buffer Mar ETF1.42%—Mar 2025CBOY vs MMAX

Lowest Drawdown Alternatives to CBOY

CBOY has a 1-year max drawdown of -3.99%. There are 121 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.

SymbolNameMax Drawdown 1YAUMInception
PMAP
PGIM S&P 500 Max Buffer ETF - April
-0.35%
—Mar 2025CBOY vs PMAP
CPSP
Calamos S&P 500 Structured Alt Protection ETF - Ap...
-0.37%
19.60MApr 2025CBOY vs CPSP
ZAPR
Innovator Equity Defined Protection ETF - 1 Yr Apr...
-0.40%
—Apr 2025CBOY vs ZAPR
MMAX
iShares Large Cap Max Buffer Mar ETF
-0.46%
—Mar 2025CBOY vs MMAX
CPSM
Calamos S&P 500 Structured Alt Protection ETF - Ma...
-0.49%
56.60MMay 2024CBOY vs CPSM

Other ETFs from Calamos

The 10 most viewed Calamos ETFs shown here include CAIE, CVRT, CAIQ and span 7 categories. AUM among these funds goes as high as $269M.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
CAIE
Calamos Autocallable Income ETFDerivative Income
67
8.83%
1.10MJun 2025CBOY vs CAIE
CVRT
Calamos Convertible Equity Alternative ETFConvertible Bonds
85
29.45%
32.10MOct 2023CBOY vs CVRT
CAIQ
Calamos Nasdaq Autocallable Income ETFNasdaq-100, Derivative Income—
11.65%
269.40MNov 2024CBOY vs CAIQ
CANQ
Calamos Alternative Nasdaq & Bond ETFNasdaq-100, Diversified Portfolio
30
4.80%
21.60MFeb 2024CBOY vs CANQ
CPSL
Calamos Laddered S&P 500 Structured Alt Protection...Defined Outcome, S&P 500
95
3.11%
—Sep 2024CBOY vs CPSL
CPSA
Calamos S&P 500 Structured Alt Protection ETF - Au...Defined Outcome
95
3.36%
42.50MAug 2024CBOY vs CPSA
SROI
Calamos Antetokounmpo Global Sustainable Equities ...Global Equities
43
10.47%
18.70MFeb 2023CBOY vs SROI
CPSD
Calamos S&P 500 Structured Alt Protection ETF - De...Defined Outcome, S&P 500
95
2.98%
44.50MDec 2024CBOY vs CPSD
CPST
Calamos S&P 500 Structured Alt Protection ETF - Se...Defined Outcome, S&P 500
95
3.26%
32.10MSep 2024CBOY vs CPST
CPNS
Calamos Nasdaq-100 Structured Alt Protection ETF -...Defined Outcome
95
3.49%
21.90MSep 2024CBOY vs CPNS

Often Compared With CBOY

Investors most often compare CBOY with PMJL, EAPR, SMAX. These 17 comparison targets span 3 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
PMJL
PGIM S&P 500 Max Buffer ETF - JulyDefined Outcome
95
3.31%
—Jun 2025CBOY vs PMJL
EAPR
Innovator Emerging Markets Power Buffer ETF - Apri...Defined Outcome
81
9.16%
104.11MMar 2021CBOY vs EAPR
SMAX
iShares Large Cap Max Buffer Sep ETFDefined Outcome
94
3.77%
—Sep 2024CBOY vs SMAX
TMAR
FT Vest Emerging Markets Buffer ETF - MarchDefined Outcome
84
11.72%
—Mar 2025CBOY vs TMAR
PBFR
PGIM Laddered S&P 500 Buffer 20 ETFDefined Outcome, S&P 500
92
5.20%
194.07MJun 2024CBOY vs PBFR
PQAP
PGIM Nasdaq-100 Buffer 12 ETF - AprilDefined Outcome, Nasdaq-100
97
11.88%
25.92MDec 2024CBOY vs PQAP
BUFP
PGIM Laddered S&P 500 Buffer 12 ETFDefined Outcome, S&P 500
87
7.06%
213.82MJun 2024CBOY vs BUFP
ZMAY
Innovator Equity Defined Protection ETF - 1 Yr MayDefined Outcome
96
2.46%
—May 2025CBOY vs ZMAY
PMAU
PGIM S&P 500 Max Buffer ETF - AugustDefined Outcome, S&P 500—
3.63%
—Jul 2025CBOY vs PMAU
DMAX
iShares Large Cap Max Buffer December ETFDefined Outcome
95
2.88%
137.28MDec 2024CBOY vs DMAX
LJUL
Innovator Premium Income 15 Buffer ETF - JulyDefined Outcome
97
2.33%
—Jun 2024CBOY vs LJUL
PMSE
PGIM S&P 500 Max Buffer ETF - SeptemberDefined Outcome, S&P 500—
3.42%
—Aug 2025CBOY vs PMSE
CPSJ
Calamos S&P 500 Structured Alt Protection ETF - Ju...Defined Outcome
95
3.33%
46.70MJul 2024CBOY vs CPSJ
PAPR
Innovator U.S. Equity Power Buffer ETF - AprilDefined Outcome
98
8.49%
954.02MApr 2019CBOY vs PAPR
UXJA
FT Vest U.S. Equity Uncapped Accelerator ETF - Jan...Defined Outcome
59
11.11%
—Jan 2025CBOY vs UXJA
UXJL
FT Vest U.S. Equity Uncapped Accelerator ETF - Jul...Defined Outcome—
11.34%
—Jul 2025CBOY vs UXJL
KMAR
Innovator U.S. Small Cap Power Buffer ETF - MarchDefined Outcome
90
11.82%
—Feb 2025CBOY vs KMAR

Compare CBOY with Any Fund or Stock

Compare CBOY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair CBOY with funds that move differently

Calamos Bitcoin Structured Alt Protection ETF - July alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CBOY.

Explore CBOY Diversifiers