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BFJL vs CPRY

FT Vest Bitcoin Strategy Floor15 ETF - July

BFJLDNYSE Arca

Calamos Russell 2000 Structured Alt Protection ETF – January

CPRYANYSE Arca

Overlap

Expense ratio

CPRY −0.21pt a year

BFJL0.90%CPRY0.69%

Avg volume · 30D

CPRY 23.0×the volume

BFJL387CPRY8.92K

BFJL vs CPRY Performance

Oct 31, 2025 – Nov 2, 2026

−5.8%BFJL+8.0%CPRY

Oct 31, 2025 to Nov 2, 2026. BFJL −5.8%. CPRY +8.0%. Use the arrow keys to read each point.−15%−10%0%5%Oct 2025May 2026Nov 2026
Expense ratio
BFJL 0.90%
CPRY 0.69%, better
Fund size
BFJL $4M
CPRY $36M
1Y total return
BFJL −5.8%
CPRY +8.0%, better
Holdings
BFJL 5
CPRY 3
Avg volume (30D)
BFJL 387 sh
CPRY 8.92K sh, better
NAV per share
BFJL $18.81
CPRY $28.40
52W range

ETF.net Grade

BFJL: Cost 24, Risk 29, Mission not scored, Tradability 30, Holdings 60, Durability 48. CPRY: Cost 78, Risk 81, Mission not scored, Tradability 80, Holdings not scored, Durability 64.
Pillar letters and Scores for BFJL, CPRY, with each pillar’s weight
PillarBFJLCPRY
Cost30% weightF24A78Higher
Mission25% weightNot scoredNot scored
Risk15% weightD29A81Higher
Tradability15% weightD30A80Higher
Holdings10% weightB60Not scored
Durability5% weightC48B64Higher

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 CPRY 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 ›

CPRY ranks 1st 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 12DBFOCFT Vest Bitcoin Strategy Floor15 ETF - OctoberScore 32
  4. Rank 13DBFJLFT Vest Bitcoin Strategy Floor15 ETF - JulyScore 28
  5. Rank 14DBFAPFT Vest Bitcoin Strategy Floor15 ETF - AprilScore 25

Our read on each fund

ETF.net Research

BFJLDFT Vest Bitcoin Strategy Floor15 ETF - July

CPRYACalamos Russell 2000 Structured Alt Protection ETF – January

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.

CPRY Small caps with a hard floor. CPRY uses options to target 100% of your starting value back over a one-year outcome period, before fees. The trade: a ceiling on the upside, reset each January.

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.

CPRY The fund seeks point-to-point exposure to the positive price return of the Russell 2000 up to a defined cap, while providing 100% downside protection over the one-year outcome period before fees and expenses.

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
  • CPRY Full protection, not a partial buffer: the design targets 100% downside protection over the one-year outcome period, before fees and expenses.
  • The floor sits on small caps. The reference asset is the iShares Russell 2000 ETF (IWM), the choppier end of US equities.
  • At 0.69%, it undercuts the 0.89% median fee among protection funds, and it sits among the strongest implementations in that peer group.
  • Part of a dated series: siblings start their outcome periods in July (CPRJ) and October (CPRO), so January is not the only entry point.

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.
  • CPRY Protection is point to point and before the 0.69% fee. Buy mid-period or sell early and you get whatever the options package is worth that day.
  • Upside stops at a cap that resets with each new January outcome period. Anything the Russell 2000 gains above it stays with the index.
  • A small fund that trades thinly, so spreads can run wider than on big index ETFs.

Full BFJL profile⁠

Full CPRY profile⁠

BFJL vs CPRY 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 CPRY Cost

Overpaying BFJL vs CPRY

$3,611

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

  • BFJL 0.90%

    $17,040

  • CPRY 0.69%

    $13,429

$10,000
30 years

Cost over time

  • BFJL 0.90%
  • CPRY 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 $17,040CPRY $13,429

Year by year

YearBFJLCPRYOverpaying
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%CPRY, cheaper
  • Middle half of Other Floor Protected funds
  • Median 0.79%

CPRY 2nd cheapest of 18 funds

BFJL 11th cheapest of 18 funds

BFJL vs CPRY Dividends

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

No distribution history available.

BFJL vs CPRY 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 2025CPRY 2.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
BFJL −0.73since Aug 2025CPRY 1.12since Feb 2025
Worst fallMax drawdown, 5 years
BFJL −21.2%since Jul 2025CPRY −3.2%since Jan 2025
Market sensitivityBeta, 5 years
BFJL 0.18CPRY 0.15

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