CAIE vs. CAIQ

Last updated Jul 14, 2026

CAIE (Calamos Autocallable Income ETF) and CAIQ (Calamos Nasdaq Autocallable Income ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index. Both are passively managed. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

CAIE vs. CAIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Income ETF (CAIE) and Calamos Nasdaq Autocallable Income ETF (CAIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAIE achieves a 8.26% return, which is significantly lower than CAIQ's 10.78% return.

CAIE

• 1D: -0.70%
• 1M: 0.81%
• 6M: 6.47%
• YTD: 8.26%
• 1Y: 19.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAIQ

• 1D: -1.44%
• 1M: -1.12%
• 6M: 9.08%
• YTD: 10.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIE vs. CAIQ - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	8.26%	1.93%
CAIQ Calamos Nasdaq Autocallable Income ETF	10.78%	4.03%

Correlation

The correlation between CAIE and CAIQ is 0.83, 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 Nov 20, 2025	0.83

Return for Risk

CAIE vs. CAIQ — Risk / Return Rank

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

CAIE

CAIE Risk / Return Rank: 66
CAIE Sharpe Ratio Rank: 65
CAIE Sortino Ratio Rank: 63
CAIE Omega Ratio Rank: 64
CAIE Calmar Ratio Rank: 65
CAIE Martin Ratio Rank: 75

CAIQ

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

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.

CAIE vs. CAIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and Calamos Nasdaq Autocallable Income ETF (CAIQ). 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.

	CAIE	CAIQ	Difference
Sharpe ratio: Return per unit of total volatility	1.69	—	—
Sortino ratio: Return per unit of downside risk	2.35	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.59	—	—
Martin ratio: Return relative to average drawdown	11.07	—	—

Drawdowns

CAIE vs. CAIQ - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum CAIQ drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for CAIE and CAIQ.

Drawdown Indicators

	CAIE	CAIQ	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-9.06%	+1.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	—	—
Current Drawdown Current decline from peak	-1.13%	-2.44%	+1.31%
Average Drawdown Average peak-to-trough decline	-1.10%	-1.67%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	—	—

Volatility

Volatility by Period

	CAIE	CAIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	13.47%	-1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.84%	13.47%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.84%	13.47%	-1.63%

CAIE vs. CAIQ - Expense Ratio Comparison

Both CAIE and CAIQ have an expense ratio of 0.74%.

Dividends

CAIE vs. CAIQ - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 14.53%, more than CAIQ's 10.25% yield.

Position	TTM	2025
CAIE Calamos Autocallable Income ETF	14.53%	7.46%
CAIQ Calamos Nasdaq Autocallable Income ETF	10.25%	1.54%

Frequently Asked Questions

Can I hold both CAIE and CAIQ in my portfolio?

CAIE and CAIQ have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAIE or CAIQ?

Both ETFs have the same 0.74% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or CAIQ?

CAIE and CAIQ have the same expense ratio: 0.74% per year.

Which ETF pays a higher dividend yield, CAIE or CAIQ?

CAIE has the higher dividend yield at 14.53%, compared with 10.25% for CAIQ.

What is the main difference between CAIE and CAIQ?

CAIE is categorized as Derivative Income, while CAIQ is Nasdaq-100. CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index, while CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index.