CAIE vs. QQQ

Last updated Jun 16, 2026

CAIE (Calamos Autocallable Income ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Their correlation of 0.85 suggests significant overlap in exposure. CAIE charges 0.74%/yr vs 0.18%/yr for QQQ.

Performance

CAIE vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Income ETF (CAIE) and Invesco QQQ ETF (QQQ). 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 lower than QQQ's 21.26% return.

CAIE

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

QQQ

• 1D: 3.14%
• 1M: 4.95%
• YTD: 21.26%
• 6M: 22.17%
• 1Y: 41.87%
• 3Y*: 27.20%
• 5Y*: 17.59%
• 10Y*: 22.31%

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

CAIE vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	8.63%	15.12%
QQQ Invesco QQQ ETF	21.26%	14.09%

Correlation

The correlation between CAIE and QQQ is 0.85, 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 Jun 25, 2025	0.85

CAIE vs. QQQ - Sectors Allocation Comparison

Sectors	CAIE	QQQ
Basic Materials	13.2%	1.0%
Communication Services	-	14.3%
Consumer Cyclical	-	11.4%
Consumer Defensive	-	6.4%
Energy	-	0.5%
Financial Services	-	0.2%
Healthcare	-	3.7%
Industrials	-	2.6%
Real Estate	-	0.1%
Technology	-	58.7%
Utilities	-	1.2%

Return for Risk

CAIE vs. QQQ — 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.

QQQ

QQQ Risk / Return Rank: 79
QQQ Sharpe Ratio Rank: 84
QQQ Sortino Ratio Rank: 79
QQQ Omega Ratio Rank: 81
QQQ Calmar Ratio Rank: 76
QQQ Martin Ratio Rank: 76

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	2.42	—
Sortino ratio: Return per unit of downside risk	—	3.12	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	3.52	—
Martin ratio: Return relative to average drawdown	—	13.12	—

Drawdowns

CAIE vs. QQQ - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for CAIE and QQQ.

Drawdown Indicators

	CAIE	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-82.97%	+75.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.96%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-0.80%	-0.29%	-0.51%
Average Drawdown Average peak-to-trough decline	-1.08%	-32.75%	+31.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.20%	—

Volatility

Volatility by Period

	CAIE	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	17.43%	-5.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.08%	22.59%	-10.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.08%	22.41%	-10.33%

CAIE vs. QQQ - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

CAIE vs. QQQ - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.15%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAIE Calamos Autocallable Income ETF	13.15%	7.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both CAIE and QQQ in my portfolio?

CAIE and QQQ have a correlation of 0.85, 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 QQQ?

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 0.38% for QQQ.

What is the main difference between CAIE and QQQ?

CAIE is categorized as Derivative Income, while QQQ is Nasdaq-100. CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Calamos and Invesco. Their fees differ too: 0.74% for CAIE and 0.18% for QQQ.