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Launched · SEC filings

FT Vest Bitcoin Strategy Floor15 ETF - January

BFJANYSE ArcaFirst TrustF

$17.55−0.56 (−3.09%)

At close: Nov 2, 2026, 4:00 PM ET

F20/ 100

Rank 22 of 24 in Other Floor Protected

F20/100Rank 22 of 24inOther Floor Protected
Intraday session: down, 6 prints from 18.11 to 17.55. Range 17.55 to 17.66. Use the arrow keys to read each point.17.7017.8017.9018.0010 AM12 PM2 PM4 PM
Expense ratio
0.90%
Fund size
$1M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
4
Avg volume · 30D
559 sh
52W range
low $17.16high $20.61
Launched
Filings
SEC EDGAR

The ETF.net BFJA Grade

Based on 5 of 6 pillars

F

Score 20 out of 100

Category
Other Floor Protected⁠
Rank
22 of 24
Six-pillar profile for BFJA. Scores out of 100: Cost 24, Risk 24, Mission not scored, Tradability 6, Holdings 57, Durability 38. Strongest: Holdings (57). Weakest: Tradability (6). Based on 5 of 6 pillars.

Score 20 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
21
This cap took
0
Published Score
20 Grade F

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F24 out of 100
    Rank 17 of 24

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F24 out of 100
    Rank 19 of 24

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F6 out of 100
    Rank 24 of 24

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B57 out of 100
    Rank 3 of 10

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D38 out of 100
    Rank 21 of 24

Our read on BFJA

ETF.net Research

In short

FDefined-outcome funds usually tame the stock market. BFJA points the same machinery at bitcoin: one-year outcome periods that limit participation in the reference asset's losses to 15%, in exchange for a capped upside, re-struck each January.

Stated mandate

The fund seeks returns matching the price return of a reference asset designed to generally reflect bitcoin’s price, subject to a 28.06% upside cap and a maximum 15% loss exposure over January 12, 2026–January 8, 2027.

Why people hold it

  • The floor is the whole design. Across each one-year outcome period, the fund takes at most 15% of the Bitcoin Reference Instrument's decline, before fees.
  • Bitcoin exposure arrives in an ETF wrapper tracking an index built to reflect bitcoin's price. No exchange account, no wallet, no keys to lose.
  • Terms reset every January: a fresh cap struck at then-current pricing, and the 15% floor starts over.
  • At 0.90%, the fee sits about where the defined-outcome floor group prices this kind of engineering.

Worth knowing

  • The floor is paid for with a ceiling. Upside is capped for each outcome period, and cap and floor are pre-fee figures, so the 0.90% expense ratio comes out of the result.
  • The math is built around holding from one January reset to the next. Enter or exit mid-period and you get whatever the cap and floor are worth that day.
  • Launched in 2026, it is one of the newer and less-traded names in the floor group, so spreads are worth a look. Equity-based peers CPRY (0.69%) and FLJJ (0.74%) cost less.

BFJA Holdings

Holdings pillarB57 out of 100Rank 3 of 10 in Other Floor Protected
Asset class
Other
Holdings
4
Top-10 weight
1457%
Largest holding
2027-01-08 S&P 500® Mini Index P 2,784.561447.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No data2027-01-08 S&P 500® Mini Index P 2,784.561447.71%65$13M1
2No data2027-01-08 MBTX Index P 181.126.07%47$54.6K1
3No dataUS Dollar2.45%22,005$22K413
4No data2027-01-08 MBTX Index C 245.041.17%47$10.5K1

Showing 1–4 of 4 holdings

BFJA Performance

Launched Jan 9, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
BFJA$10,475
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,093
Jul 31, 2026 to Nov 2, 2026. BFJA $10,475. SPY $10,093. Use the arrow keys to read each point.$10,000$10,500$11,000Jul 2026Sep 2026Nov 2026

Jul 31, 2026 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BFJA. Periods over one year show the average yearly return.
PeriodBFJA
Year to dateFund launched this yearNo data
1 month−6.0%
3 months+4.7%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BFJA
YearReturn barBFJA
2026 YTD−9.6%

Since listing, Jan 9, 2026

BFJA in the news

BFJA Dividends

Upcoming payment
$0.54 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2026

One bar per payment. 1 payment in 2026 YTD. Nov 2, 2026 $0.54. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 3, 2026$0.54

BFJA Risk

Risk pillarF24 out of 100Rank 19 of 24 in Other Floor Protected
How much the fund’s monthly returns vary, scaled to a year.
Launched Jan 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched Jan 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched Jan 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.36
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BFJA Cost

Compare BFJA and ISWN

Overpaying vs ISWN, cheapest in Other Floor Protected

$7,248

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BFJA 0.90%

    $17,040

  • ISWN 0.49% Cheapest

    $9,792

$10,000
30 years

Cost over time

  • BFJA 0.90%
  • ISWN 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BFJA $17,040ISWN $9,792

Year by year

YearBFJAISWNOverpaying
10$1,593$883$710
20$6,015$3,394$2,621
30$17,040$9,792$7,248

Other funds in Other Floor Protected

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