CAIE vs. JEPQ

Last updated Jun 26, 2026

CAIE (Calamos Autocallable Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past year, CAIE returned 23.25% vs 24.08% for JEPQ. Their correlation of 0.83 suggests significant overlap in exposure. CAIE charges 0.74%/yr vs 0.35%/yr for JEPQ.

Performance

CAIE vs. JEPQ - Performance Comparison

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

Returns By Period

In the year-to-date period, CAIE achieves a 7.04% return, which is significantly lower than JEPQ's 8.34% return.

CAIE

• 1D: 0.30%
• 1M: -1.33%
• YTD: 7.04%
• 6M: 5.77%
• 1Y: 23.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.74%
• 1M: 0.15%
• YTD: 8.34%
• 6M: 7.25%
• 1Y: 24.08%
• 3Y*: 20.24%
• 5Y*: —
• 10Y*: —

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

CAIE vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	7.04%	15.12%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	8.34%	14.83%

Correlation

The correlation between CAIE and JEPQ 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 (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.83

The correlation between CAIE and JEPQ has been stable across timeframes, ranging from 0.83 to 0.83 - a consistent structural relationship.

CAIE vs. JEPQ - Sectors Allocation Comparison

Sectors	CAIE	JEPQ
Basic Materials	13.5%	0.9%
Communication Services	-	13.9%
Consumer Cyclical	-	11.8%
Consumer Defensive	-	6.0%
Energy	-	0.3%
Financial Services	-	0.3%
Healthcare	-	3.9%
Industrials	-	2.8%
Real Estate	-	0.2%
Technology	-	58.9%
Utilities	-	1.1%

Return for Risk

CAIE vs. JEPQ — Risk / Return Rank

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

CAIE

CAIE Risk / Return Rank: 71
CAIE Sharpe Ratio Rank: 69
CAIE Sortino Ratio Rank: 68
CAIE Omega Ratio Rank: 68
CAIE Calmar Ratio Rank: 70
CAIE Martin Ratio Rank: 78

JEPQ

JEPQ Risk / Return Rank: 68
JEPQ Sharpe Ratio Rank: 66
JEPQ Sortino Ratio Rank: 61
JEPQ Omega Ratio Rank: 72
JEPQ Calmar Ratio Rank: 64
JEPQ Martin Ratio Rank: 78

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. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.85	+0.09
Sortino ratio: Return per unit of downside risk	2.68	2.47	+0.20
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	3.02	2.74	+0.28
Martin ratio: Return relative to average drawdown	13.03	12.92	+0.12

CAIE vs. JEPQ - Sharpe Ratio Comparison

The current CAIE Sharpe Ratio is 1.95, which is comparable to the JEPQ Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of CAIE and JEPQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CAIE vs. JEPQ - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for CAIE and JEPQ.

Drawdown Indicators

	CAIE	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-20.07%	+12.34%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-8.82%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-2.25%	-2.04%	-0.21%
Average Drawdown Average peak-to-trough decline	-1.10%	-3.39%	+2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.87%	-0.08%

Volatility

CAIE vs. JEPQ - Volatility Comparison

The current volatility for Calamos Autocallable Income ETF (CAIE) is 3.37%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.28%. This indicates that CAIE experiences smaller price fluctuations and is considered to be less risky than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAIE	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	6.28%	-2.91%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	10.54%	-2.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	13.05%	-1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.00%	16.78%	-4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.00%	16.78%	-4.78%

CAIE vs. JEPQ - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

CAIE vs. JEPQ - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.34%, more than JEPQ's 10.18% yield.

Position	TTM	2025	2024	2023	2022
CAIE Calamos Autocallable Income ETF	13.34%	7.46%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.18%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both CAIE and JEPQ in my portfolio?

CAIE and JEPQ 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 is riskier, CAIE or JEPQ?

JEPQ has higher volatility (6.28%) compared to CAIE (3.37%). In terms of maximum drawdown, CAIE dropped -7.73% vs JEPQ's -20.07%.

Which ETF is better, CAIE or JEPQ?

On 1-year performance, JEPQ leads with 24.08% vs 23.25% for CAIE. On fees, JEPQ is cheaper at 0.35% per year. On volatility, CAIE has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CAIE or JEPQ?

Over the 1-year period, JEPQ has performed better with a 24.08% return vs 23.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CAIE or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.34%, compared with 10.18% for JEPQ.

What is the main difference between CAIE and JEPQ?

CAIE is categorized as Derivative Income, while JEPQ is Nasdaq-100. CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Calamos and JPMorgan. Their fees differ too: 0.74% for CAIE and 0.35% for JEPQ.

Which has better risk-adjusted returns?

CAIE currently has the higher Sharpe Ratio (1.95 vs 1.85), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.