CAIE vs. JELM

Last updated Aug 5, 2026

CAIE (Calamos Autocallable Income ETF) and JELM (Janus Henderson Equity Linked Moderate Income ETF) are both Derivative Income funds. CAIE is passively managed, while JELM is actively managed. Their 0.02 correlation means their historical movements had little consistent relationship. CAIE charges 0.86%/yr vs 0.59%/yr for JELM.

Performance

CAIE vs. JELM - Performance Comparison

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

Returns By Period

CAIE

• 1D: 1.30%
• 1M: 2.49%
• 6M: 9.84%
• YTD: 10.88%
• 1Y: 20.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.63%

JELM

• 1D: 0.20%
• 1M: 1.29%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAIE Calamos Autocallable Income ETF	$18.08M	$16.26M	$13.42M
JELM Janus Henderson Equity Linked Moderate Income ETF	$199.95K	$786.17K	$963.17K

CAIE vs. JELM - Yearly Performance Comparison

	2026 (YTD)
CAIE Calamos Autocallable Income ETF	7.47%
JELM Janus Henderson Equity Linked Moderate Income ETF	2.35%

Correlation

The correlation between CAIE and JELM is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 22, 2026	0.02

Return for Risk

CAIE vs. JELM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CAIE

CAIE Risk / Return Rank: 70
CAIE Sharpe Ratio Rank: 68
CAIE Sortino Ratio Rank: 67
CAIE Omega Ratio Rank: 66
CAIE Calmar Ratio Rank: 69
CAIE Martin Ratio Rank: 79

JELM

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CAIE vs. JELM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and Janus Henderson Equity Linked Moderate Income ETF (JELM). 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	JELM	Difference
Sharpe ratio: Return per unit of total volatility	1.77	—	—
Sortino ratio: Return per unit of downside risk	2.46	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.70	—	—
Martin ratio: Return relative to average drawdown	11.39	—	—

Drawdowns

CAIE vs. JELM - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, which is greater than JELM's maximum drawdown of -0.69%. Use the drawdown chart below to compare losses from any high point for CAIE and JELM.

Drawdown Indicators

	CAIE	JELM	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-0.69%	-7.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	—	—
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-1.13%	-0.21%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	—	—

Volatility

Volatility by Period

	CAIE	JELM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.94%	3.69%	+8.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.92%	3.69%	+8.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.92%	3.69%	+8.23%

CAIE vs. JELM - Expense Ratio Comparison

CAIE has a 0.86% expense ratio, which is higher than JELM's 0.59% expense ratio.

Dividends

CAIE vs. JELM - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 14.08%, more than JELM's 1.21% yield.

Position	TTM	2025
CAIE Calamos Autocallable Income ETF	14.08%	7.46%
JELM Janus Henderson Equity Linked Moderate Income ETF	1.21%	0.00%

Frequently Asked Questions

Can I hold both CAIE and JELM in my portfolio?

CAIE and JELM have a correlation of 0.02, 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 JELM?

On fees, JELM is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or JELM?

JELM is cheaper with a 0.59% expense ratio, compared with 0.86% for CAIE.

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

CAIE has the higher dividend yield at 14.08%, compared with 1.21% for JELM.

What is the main difference between CAIE and JELM?

They also come from different issuers: Calamos and Janus Henderson. Their fees differ too: 0.86% for CAIE and 0.59% for JELM.