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BFJL vs CPRO

FT Vest Bitcoin Strategy Floor15 ETF - July

BFJLDNYSE Arca

Calamos Russell 2000 Structured Alt Protection ETF – October

CPROANYSE Arca

Overlap

Expense ratio

CPRO −0.21pt a year

BFJL0.90%CPRO0.69%

Avg volume · 30D

CPRO 13.0×the volume

BFJL387CPRO5.02K

BFJL vs CPRO Performance

Oct 31, 2025 – Nov 2, 2026

−5.8%BFJL+7.4%CPRO

Oct 31, 2025 to Nov 2, 2026. BFJL −5.8%. CPRO +7.4%. Use the arrow keys to read each point.−15%−10%0%Oct 2025May 2026Nov 2026
Expense ratio
BFJL 0.90%
CPRO 0.69%, better
Fund size
BFJL $4M
CPRO $27M
1Y total return
BFJL −5.8%
CPRO +7.4%, better
Holdings
BFJL 5
CPRO 3
Avg volume (30D)
BFJL 387 sh
CPRO 5.02K sh, better
NAV per share
BFJL $18.81
CPRO $28.83
52W range

ETF.net Grade

BFJL: Cost 24, Risk 29, Mission not scored, Tradability 30, Holdings 60, Durability 48. CPRO: Cost 78, Risk 86, Mission 88, Tradability 70, Holdings not scored, Durability 65.
Pillar letters and Scores for BFJL, CPRO, with each pillar’s weight
PillarBFJLCPRO
Cost30% weightF24A78Higher
Mission25% weightNot scoredA88
Risk15% weightD29A86Higher
Tradability15% weightD30A70Higher
Holdings10% weightB60Not scored
Durability5% weightC48B65Higher

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. BFJL and CPRO 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 ›

CPRO ranks 2nd and BFJL 13th 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 12DBFOCFT Vest Bitcoin Strategy Floor15 ETF - OctoberScore 32
  5. Rank 13DBFJLFT Vest Bitcoin Strategy Floor15 ETF - JulyScore 28
  6. Rank 14DBFAPFT Vest Bitcoin Strategy Floor15 ETF - AprilScore 25

Our read on each fund

ETF.net Research

BFJLDFT Vest Bitcoin Strategy Floor15 ETF - July

CPROACalamos Russell 2000 Structured Alt Protection ETF – October

In short

BFJL Bitcoin with a seatbelt. BFJL follows the price return of a bitcoin reference instrument, absorbs the first 15% of a decline over a one-year outcome period, and gives up gains above a cap that resets each July.

CPRO Small-cap exposure without small-cap drawdowns: CPRO tracks the Russell 2000 and aims to shield 100% of capital across each one-year outcome period, trading away upside above a preset cap.

Stated mandate

BFJL The Fund seeks to match the price return of a bitcoin-linked reference asset, subject to a 27.82% upside cap, while limiting its maximum loss from reference-instrument losses to 15% over the July 1, 2026–July 9, 2027 Target Outcome Period.

CPRO The ETF seeks to provide Russell 2000 exposure with defined upside participation while protecting 100% of capital from losses over the one-year outcome period.

Why people hold it

  • BFJL The rare defined-outcome take in a cohort of plain spot bitcoin funds: 15% of downside covered by design, upside sold off to a stated cap.ftportfolios.com
  • Terms are posted up front. The outcome period runs July to July, with the cap and the 15% protection level set at the start, not discovered along the way.ftportfolios.com
  • Floor and cap squeeze the ride at both ends, a structurally different experience from holding bitcoin exposure straight.ftportfolios.com
  • CPRO Full armor, not a partial buffer: the design targets 100% downside protection over the one-year outcome period, versus the 9% or 15% slices typical of buffer funds.calamos.com
  • At 0.69%, it undercuts the typical fee in its downside-protection peer group, including RFLR, the other fund built on the same Russell 2000 floor idea.
  • Calamos brought the first 100% one-year protected Russell 2000 ETF to market, and CPRO is the October vintage; CPRY and CPRJ start their years in January and July.calamos.comprnewswire.com
  • A plain 1940 Act ETF you trade in a brokerage account, not a structured note bought through a bank.calamos.com

Worth knowing

  • BFJL 0.90% a year is several times what plain spot bitcoin funds such as BITB and HODL charge at 0.20%. That is the toll for the downside engineering.
  • The 15% protection is measured across the full outcome period. Buy mid-period and your personal floor and cap sit at different levels than the headline terms.ftportfolios.com
  • Launched in 2025, still a small fund that trades lightly, so bid-ask spreads are a real part of the entry cost.
  • CPRO The cap is the price of the floor. It resets each October, applies before the 0.69% fee, and a big small-cap year gets trimmed to that ceiling.calamos.com
  • The math is built around holding the full October-to-September period. Buy mid-period and you inherit whatever cap and protection level remain.calamos.com
  • Small and thinly traded, so use limit orders. The options structure also isn't designed to produce an income stream.

Full BFJL profile⁠

Full CPRO profile⁠

BFJL vs CPRO 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.

BFJL vs CPRO Cost

Overpaying BFJL vs CPRO

$3,611

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

  • BFJL 0.90%

    $17,040

  • CPRO 0.69%

    $13,429

$10,000
30 years

Cost over time

  • BFJL 0.90%
  • CPRO 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$20K051015202530BFJL $17,040CPRO $13,429

Year by year

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

Expense ratio

  • 0.90%BFJL
  • 0.69%CPRO, cheaper
  • Middle half of Other Floor Protected funds
  • Median 0.79%

CPRO 2nd cheapest of 18 funds

BFJL 11th cheapest of 18 funds

BFJL vs CPRO Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
BFJL No data
CPRO None
Last payment
BFJL $0.24
CPRO No data
Ex-dividend
BFJL Dec 29, 2025
CPRO No data
Paid on
BFJL Dec 31, 2025
CPRO No data
Frequency
BFJL Irregular
CPRO No data

Distribution history

Per share, 2025 to 2026, same scale for both

BFJLIrregular · 1 paymentAll BFJL payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 29, 2025 $0.24. Use the arrow keys to read each point.$0$0.252026YTD
CPROAll CPRO payments⁠

No distribution history available.

BFJL vs CPRO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BFJL 12.9%since Aug 2025CPRO 3.8%since Nov 2024
Return per unit of riskSharpe ratio, 3 years
BFJL −0.73since Aug 2025CPRO 0.94since Nov 2024
Worst fallMax drawdown, 5 years
BFJL −21.2%since Jul 2025CPRO −3.3%since Oct 2024
Market sensitivityBeta, 5 years
BFJL 0.18CPRO 0.21

Popular comparisons

  • BFJLDvsCPRYA

    FT Vest Bitcoin Strategy Floor15 ETF - July · Calamos Russell 2000 Structured Alt Protection ETF – January

    Expense ratio
    0.90% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CPROAvsCPRYA

    Calamos Russell 2000 Structured Alt Protection ETF – October · Calamos Russell 2000 Structured Alt Protection ETF – January

    Expense ratio
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    Category
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  • BFJLDvsISWNA

    FT Vest Bitcoin Strategy Floor15 ETF - July · Amplify BlackSwan ISWN ETF (International)

    Expense ratio
    0.90% · 0.49%
    Category
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  • CPROAvsISWNA

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    Expense ratio
    0.69% · 0.49%
    Category
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  • BFJLDvsCPRJA

    FT Vest Bitcoin Strategy Floor15 ETF - July · Calamos Russell 2000 Structured Alt Protection ETF – July

    Expense ratio
    0.90% · 0.69%
    Category
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  • CPROAvsCPRJA

    Calamos Russell 2000 Structured Alt Protection ETF – October · Calamos Russell 2000 Structured Alt Protection ETF – July

    Expense ratio
    0.69% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.