CAGE vs. VOOG

Last updated Jul 21, 2026

CAGE (Calamos Autocallable Growth ETF) and VOOG (Vanguard S&P 500 Growth ETF) are both exchange-traded funds - CAGE is a Derivative Income fund actively managed by Calamos, while VOOG is a S&P 500 fund tracking the S&P 500 Growth Index. CAGE is actively managed, while VOOG is passively managed. Their correlation of 0.90 suggests significant overlap in exposure.

Performance

CAGE vs. VOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Growth ETF (CAGE) and Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CAGE

• 1D: -0.76%
• 1M: -1.51%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

VOOG

• 1D: 0.28%
• 1M: -2.33%
• 6M: 9.02%
• YTD: 9.56%
• 1Y: 20.56%
• 3Y*: 24.32%
• 5Y*: 13.37%
• 10Y*: 17.29%
• ALL TIME*: 16.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CAGE vs. VOOG - Yearly Performance Comparison

	2026 (YTD)
CAGE Calamos Autocallable Growth ETF	9.15%
VOOG Vanguard S&P 500 Growth ETF	6.77%

Correlation

The correlation between CAGE and VOOG is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 16, 2026	0.90

Return for Risk

CAGE vs. VOOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CAGE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VOOG

VOOG Risk / Return Rank: 42
VOOG Sharpe Ratio Rank: 44
VOOG Sortino Ratio Rank: 42
VOOG Omega Ratio Rank: 41
VOOG Calmar Ratio Rank: 38
VOOG Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CAGE vs. VOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Growth ETF (CAGE) and Vanguard S&P 500 Growth ETF (VOOG). 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.

	CAGE	VOOG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.19	—
Sortino ratio: Return per unit of downside risk	—	1.69	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.51	—
Martin ratio: Return relative to average drawdown	—	5.71	—

Drawdowns

CAGE vs. VOOG - Drawdown Comparison

The maximum CAGE drawdown since its inception was -6.60%, smaller than the maximum VOOG drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for CAGE and VOOG.

Drawdown Indicators

	CAGE	VOOG	Difference
Max Drawdown Largest peak-to-trough decline	-6.60%	-32.73%	+26.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.71%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.73%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.73%	—
Current Drawdown Current decline from peak	-4.11%	-4.75%	+0.64%
Average Drawdown Average peak-to-trough decline	-1.73%	-4.96%	+3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.61%	—

Volatility

Volatility by Period

	CAGE	VOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.92%	17.43%	+3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.92%	21.44%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	20.83%	+0.09%

Dividends

CAGE vs. VOOG - Dividend Comparison

CAGE has not paid dividends to shareholders, while VOOG's dividend yield for the trailing twelve months is around 0.46%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAGE Calamos Autocallable Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOOG Vanguard S&P 500 Growth ETF	0.46%	0.49%	0.49%	1.12%	0.93%	0.53%	0.88%	1.26%	1.34%	1.32%	1.47%	1.56%

Frequently Asked Questions

Can I hold both CAGE and VOOG in my portfolio?

CAGE and VOOG have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, CAGE or VOOG?

VOOG has the higher dividend yield at 0.46%, compared with 0.00% for CAGE.

What is the main difference between CAGE and VOOG?

CAGE is categorized as Derivative Income, while VOOG is S&P 500. They also come from different issuers: Calamos and Vanguard.