CAIE vs. MRNY
CAIE (Calamos Autocallable Income ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds. CAIE is passively managed, while MRNY is actively managed. At a 0.34 correlation, their price movements are largely independent. CAIE charges 0.74%/yr vs 0.99%/yr for MRNY.
Performance
CAIE vs. MRNY - Performance Comparison
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Returns By Period
In the year-to-date period, CAIE achieves a 7.12% return, which is significantly lower than MRNY's 47.14% return.
CAIE
- 1D
- -2.11%
- 1M
- -0.24%
- YTD
- 7.12%
- 6M
- 7.13%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MRNY
- 1D
- -5.48%
- 1M
- -0.56%
- YTD
- 47.14%
- 6M
- 49.33%
- 1Y
- 48.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CAIE vs. MRNY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CAIE Calamos Autocallable Income ETF | 7.12% | 15.15% |
MRNY YieldMax MRNA Option Income Strategy ETF | 47.14% | -3.48% |
Correlation
The correlation between CAIE and MRNY is 0.34, 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 26, 2025 | 0.34 |
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Return for Risk
CAIE vs. MRNY — Risk / Return Rank
CAIE
MRNY
CAIE vs. MRNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and YieldMax MRNA Option Income Strategy ETF (MRNY). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| CAIE | MRNY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.06 | -0.51 | +2.57 |
Drawdowns
CAIE vs. MRNY - Drawdown Comparison
The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for CAIE and MRNY.
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Drawdown Indicators
| CAIE | MRNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.73% | -82.15% | +74.42% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.53% | — |
Current DrawdownCurrent decline from peak | -2.18% | -69.02% | +66.84% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -52.66% | +51.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 16.17% | — |
Volatility
CAIE vs. MRNY - Volatility Comparison
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Volatility by Period
| CAIE | MRNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.57% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 37.45% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.09% | 49.69% | -37.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.09% | 50.82% | -38.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.09% | 50.82% | -38.73% |
CAIE vs. MRNY - Expense Ratio Comparison
CAIE has a 0.74% expense ratio, which is lower than MRNY's 0.99% expense ratio.
Dividends
CAIE vs. MRNY - Dividend Comparison
CAIE's dividend yield for the trailing twelve months is around 13.33%, less than MRNY's 105.86% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CAIE Calamos Autocallable Income ETF | 13.33% | 7.46% | 0.00% | 0.00% |
MRNY YieldMax MRNA Option Income Strategy ETF | 105.86% | 145.98% | 178.49% | 1.75% |
Frequently Asked Questions
CAIE and MRNY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CAIE is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CAIE is cheaper with a 0.74% expense ratio, compared with 0.99% for MRNY.
MRNY has the higher dividend yield at 105.86%, compared with 13.33% for CAIE.
They also come from different issuers: Calamos and YieldMax. Their fees differ too: 0.74% for CAIE and 0.99% for MRNY.
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