BFJA vs. CBTO
BFJA (FT Vest Bitcoin Strategy Floor15 ETF - January) and CBTO (Calamos Bitcoin 80 Series Structured Alt Protection ETF - October) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.85 means they have usually moved in the same direction. BFJA charges 0.90%/yr vs 0.69%/yr for CBTO.
Performance
BFJA vs. CBTO - Performance Comparison
Loading charts...
Returns By Period
BFJA
- 1D
- 0.09%
- 1M
- -0.09%
- 6M
- -8.36%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
CBTO
- 1D
- -0.03%
- 1M
- 0.08%
- 6M
- -4.41%
- YTD
- -8.23%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $278.70 | $434.88 | $1.70K | |
| $174.49K | $137.15K | $216.43K |
BFJA vs. CBTO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BFJA FT Vest Bitcoin Strategy Floor15 ETF - January | -13.87% |
CBTO Calamos Bitcoin 80 Series Structured Alt Protection ETF - October | -9.17% |
Correlation
The correlation between BFJA and CBTO is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026 | 0.85 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BFJA vs. CBTO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy Floor15 ETF - January (BFJA) and Calamos Bitcoin 80 Series Structured Alt Protection ETF - October (CBTO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Drawdowns
BFJA vs. CBTO - Drawdown Comparison
The maximum BFJA drawdown since its inception was -16.74%, smaller than the maximum CBTO drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for BFJA and CBTO.
Loading charts...
Drawdown Indicators
| BFJA | CBTO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.74% | -21.27% | +4.53% |
Current DrawdownCurrent decline from peak | -15.93% | -21.08% | +5.15% |
Average DrawdownAverage peak-to-trough decline | -10.57% | -16.11% | +5.54% |
Volatility
BFJA vs. CBTO - Volatility Comparison
Loading charts...
Volatility by Period
| BFJA | CBTO | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 11.51% | +2.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.86% | 11.51% | +2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.86% | 11.51% | +2.35% |
BFJA vs. CBTO - Expense Ratio Comparison
BFJA has a 0.90% expense ratio, which is higher than CBTO's 0.69% expense ratio.
Dividends
BFJA vs. CBTO - Dividend Comparison
BFJA has not paid dividends to shareholders, while CBTO's dividend yield for the trailing twelve months is around 0.24%.
| Position | TTM | 2025 |
|---|---|---|
BFJA FT Vest Bitcoin Strategy Floor15 ETF - January | 0.00% | 0.00% |
CBTO Calamos Bitcoin 80 Series Structured Alt Protection ETF - October | 0.24% | 0.22% |
Frequently Asked Questions
BFJA and CBTO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBTO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBTO is cheaper with a 0.69% expense ratio, compared with 0.90% for BFJA.
CBTO has the higher dividend yield at 0.24%, compared with 0.00% for BFJA.
They also come from different issuers: First Trust and Calamos. Their fees differ too: 0.90% for BFJA and 0.69% for CBTO.
Find the right allocation for BFJA and CBTO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer