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BFJA vs CPRJ

FT Vest Bitcoin Strategy Floor15 ETF - January

BFJAFNYSE Arca

Calamos Russell 2000 Structured Alt Protection ETF – July

CPRJANYSE Arca

Overlap

0.0%by weight

Expense ratio

CPRJ −0.21pt a year

BFJA0.90%CPRJ0.69%

Avg volume · 30D

CPRJ 25.7×the volume

BFJA559CPRJ14.4K

BFJA vs CPRJ Performance

Jul 31, 2026 – Nov 2, 2026

+4.7%BFJA−0.5%CPRJ

Jul 31, 2026 to Nov 2, 2026. BFJA +4.7%. CPRJ −0.5%. Use the arrow keys to read each point.2.5%7.5%10%12.5%Jul 2026Sep 2026Nov 2026
Expense ratio
BFJA 0.90%
CPRJ 0.69%, better
Fund size
BFJA $1M
CPRJ $43M
1Y total return
BFJA No data
CPRJ +3.6%
Holdings
BFJA 4
CPRJ 3
Avg volume (30D)
BFJA 559 sh
CPRJ 14.4K sh, better
NAV per share
BFJA $17.98
CPRJ $27.54
52W range

ETF.net Grade

BFJA: Cost 24, Risk 24, Mission not scored, Tradability 6, Holdings 57, Durability 38. CPRJ: Cost 78, Risk 71, Mission not scored, Tradability 57, Holdings not scored, Durability 74.
Pillar letters and Scores for BFJA, CPRJ, with each pillar’s weight
PillarBFJACPRJ
Cost30% weightF24A78Higher
Mission25% weightNot scoredNot scored
Risk15% weightF24A71Higher
Tradability15% weightF6B57Higher
Holdings10% weightB57Not scored
Durability5% weightD38A74Higher

Rank among Other Floor Protected funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BFJA and CPRJ are both graded against the same 18 Other Floor Protected funds, so their Grades compare head to head.

Other Floor Protected⁠

Category · 18 funds
See all 18 ›

CPRJ ranks 4th and BFJA 16th of 18 funds in the Other Floor Protected Category.

  1. Rank 1ACPRYCalamos Russell 2000 Structured Alt Protection ETF – JanuaryScore 78
  2. Rank 2ACPROCalamos Russell 2000 Structured Alt Protection ETF – OctoberScore 76
  3. Rank 3AISWNAmplify BlackSwan ISWN ETF (International)Score 74
  4. Rank 4ACPRJCalamos Russell 2000 Structured Alt Protection ETF – JulyScore 71
  5. Rank 5ACPNSCalamos Nasdaq-100 Structured Alt Protection ETF – SeptemberScore 70
  6. Rank 15FKBUFKraneShares 90% KWEB Defined Outcome January 2027 ETFScore 24
  7. Rank 16FBFJAFT Vest Bitcoin Strategy Floor15 ETF - JanuaryScore 20
  8. Rank 17FKPROKraneShares 100% KWEB Defined Outcome January 2027 ETFScore 19

Our read on each fund

ETF.net Research

BFJAFFT Vest Bitcoin Strategy Floor15 ETF - January

CPRJACalamos Russell 2000 Structured Alt Protection ETF – July

In short

BFJA Defined-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.

CPRJ Small caps with a hard floor. CPRJ tracks the Russell 2000 through IWM and aims to absorb 100% of its losses over a one-year outcome period, before fees, in exchange for a cap on gains that resets every July.

Stated mandate

BFJA 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.

CPRJ The Fund seeks participation in gains of the iShares Russell 2000 ETF up to a stated cap while protecting against 100% of its losses over the one-year outcome period, before fees and expenses.

Why people hold it

  • BFJA 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.
  • CPRJ Not a slice of the downside, all of it: the structure aims to protect against 100% of the reference ETF's losses over the one-year outcome period, before fees and expenses.calamos.com
  • A floor on small caps is the rare part. The reference asset is the iShares Russell 2000 ETF (IWM), not the large-cap index most protected-outcome funds lean on.calamos.com
  • 0.69% a year sits under the typical fee in its protected-outcome peer group, and it is the same rate as the January and October siblings (CPRY, CPRO).
  • It renews itself: a fresh outcome period starts each July 1 with a newly struck cap, so the protection resets on a calendar you can plan around.calamos.com

Worth knowing

  • BFJA 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.
  • CPRJ The floor is paid for with a ceiling. Gains stop at the cap struck for that outcome period, so a blistering small-cap year gets clipped.calamos.com
  • Protection is stated before fees and expenses and applies over a full July-to-June period. Buy mid-period and your terms are whatever cap and cushion remain.
  • One of the smaller, more thinly traded funds in the category, and it has not been paying distributions, so spreads deserve attention and nothing shows up as income.

Full BFJA profile⁠

Full CPRJ profile⁠

BFJA vs CPRJ Holdings

How BFJA and CPRJ differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BFJA and 0.0% of CPRJ.

Level by level

  • Holdings0 in both0.0%

Sector

No Sector split for BFJA and CPRJ.

Country, concentration and asset class

Country by domicile

No country split for BFJA and CPRJ.

Concentration

Weight in the 10 largest Holdings

  • BFJA1457.4%
  • CPRJ101.5%

Securities held

  • BFJA3
  • CPRJ0

Asset class

BFJA
Multi-Asset
CPRJ
Equity

Holdings

  • Only in BFJA3
  • In both0
  • Only in CPRJ0

Only in BFJA

3 securities, 100% of BFJA by weight

  • 2027-01-08 S&P 500® Mini Index P 2,784.561447.71%
  • 2027-01-08 MBTX Index P 181.126.07%
  • 2027-01-08 MBTX Index C 245.041.17%

Only in CPRJ

0 securities, 0.0% of CPRJ by weight

Weight gaps

BFJA and CPRJ share no securities.

All 8 BFJA holdings⁠All 5 CPRJ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BFJA vs CPRJ Cost

Overpaying BFJA vs CPRJ

$3,611

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

  • BFJA 0.90%

    $17,040

  • CPRJ 0.69%

    $13,429

$10,000
30 years

Cost over time

  • BFJA 0.90%
  • CPRJ 0.69%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BFJA $17,040CPRJ $13,429

Year by year

YearBFJACPRJOverpaying
10$1,593$1,232$361
20$6,015$4,697$1,318
30$17,040$13,429$3,611

Expense ratio

  • 0.90%BFJA
  • 0.69%CPRJ, cheaper
  • Middle half of Other Floor Protected funds
  • Median 0.79%

CPRJ 2nd cheapest of 18 funds

BFJA 11th cheapest of 18 funds

BFJA vs CPRJ Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
BFJA No data
CPRJ None
Last payment
BFJA $0.54
CPRJ No data
Ex-dividend
BFJA Nov 2, 2026
CPRJ No data
Paid on
BFJA Pays Nov 3, 2026
CPRJ No data
Frequency
BFJA Irregular
CPRJ No data

Distribution history

Per share, 2026, same scale for both

BFJAIrregular · 1 paymentAll BFJA payments⁠
One bar per payment. 1 payment in 2026 YTD. Nov 2, 2026 $0.54. Use the arrow keys to read each point.$0$0.502026YTD
CPRJAll CPRJ payments⁠

No distribution history available.

BFJA vs CPRJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BFJA No dataCPRJ 4.2%since Aug 2024
Return per unit of riskSharpe ratio, 3 years
BFJA No dataCPRJ 0.02since Aug 2024
Worst fallMax drawdown, 5 years
BFJA No dataCPRJ −6.3%since Jul 2024
Market sensitivityBeta, 5 years
BFJA 0.36CPRJ 0.27

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