CAIE vs. JPIE

Last updated Jun 16, 2026

CAIE (Calamos Autocallable Income ETF) and JPIE (JPMorgan Income ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while JPIE is a Multisector Bonds fund actively managed by JPMorgan. CAIE is passively managed, while JPIE is actively managed. At a 0.41 correlation, their price movements are largely independent. CAIE charges 0.74%/yr vs 0.40%/yr for JPIE.

Performance

CAIE vs. JPIE - Performance Comparison

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

Returns By Period

In the year-to-date period, CAIE achieves a 8.63% return, which is significantly higher than JPIE's 1.76% return.

CAIE

• 1D: 1.15%
• 1M: 1.01%
• YTD: 8.63%
• 6M: 9.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPIE

• 1D: 0.11%
• 1M: 0.87%
• YTD: 1.76%
• 6M: 2.12%
• 1Y: 6.06%
• 3Y*: 6.60%
• 5Y*: —
• 10Y*: —

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

CAIE vs. JPIE - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	8.63%	15.12%
JPIE JPMorgan Income ETF	1.76%	3.59%

Correlation

The correlation between CAIE and JPIE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.41

Return for Risk

CAIE vs. JPIE — Risk / Return Rank

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

CAIE

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

JPIE

JPIE Risk / Return Rank: 95
JPIE Sharpe Ratio Rank: 96
JPIE Sortino Ratio Rank: 97
JPIE Omega Ratio Rank: 97
JPIE Calmar Ratio Rank: 91
JPIE Martin Ratio Rank: 95

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. JPIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and JPMorgan Income ETF (JPIE). 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	JPIE	Difference
Sharpe ratio: Return per unit of total volatility	—	3.82	—
Sortino ratio: Return per unit of downside risk	—	6.05	—
Omega ratio: Gain probability vs. loss probability	—	1.88	—
Calmar ratio: Return relative to maximum drawdown	—	5.30	—
Martin ratio: Return relative to average drawdown	—	26.19	—

Drawdowns

CAIE vs. JPIE - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum JPIE drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for CAIE and JPIE.

Drawdown Indicators

	CAIE	JPIE	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-9.96%	+2.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.15%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.40%	—
Current Drawdown Current decline from peak	-0.80%	0.00%	-0.80%
Average Drawdown Average peak-to-trough decline	-1.08%	-2.08%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.23%	—

Volatility

Volatility by Period

	CAIE	JPIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	1.60%	+10.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.08%	3.51%	+8.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.08%	3.51%	+8.57%

CAIE vs. JPIE - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than JPIE's 0.40% expense ratio.

Dividends

CAIE vs. JPIE - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.15%, more than JPIE's 5.60% yield.

Position	TTM	2025	2024	2023	2022	2021
CAIE Calamos Autocallable Income ETF	13.15%	7.46%	0.00%	0.00%	0.00%	0.00%
JPIE JPMorgan Income ETF	5.60%	5.65%	6.11%	5.70%	4.49%	0.63%

Frequently Asked Questions

Can I hold both CAIE and JPIE in my portfolio?

CAIE and JPIE have a correlation of 0.41, 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 JPIE?

On fees, JPIE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or JPIE?

JPIE is cheaper with a 0.40% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 5.60% for JPIE.

What is the main difference between CAIE and JPIE?

CAIE is categorized as Derivative Income, while JPIE is Multisector Bonds. They also come from different issuers: Calamos and JPMorgan. Their fees differ too: 0.74% for CAIE and 0.40% for JPIE.