CAIE vs. RBIL

Last updated Jun 26, 2026

CAIE (Calamos Autocallable Income ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. Both are passively managed. Over the past year, CAIE returned 23.25% vs 4.09% for RBIL. At a correlation of -0.20, they often move in opposite directions. CAIE charges 0.74%/yr vs 0.17%/yr for RBIL.

Performance

CAIE vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Income ETF (CAIE) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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 higher than RBIL's 2.31% return.

CAIE

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

RBIL

• 1D: 0.05%
• 1M: -0.16%
• YTD: 2.31%
• 6M: 2.34%
• 1Y: 4.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIE vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	7.04%	15.12%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.31%	1.81%

Correlation

The correlation between CAIE and RBIL is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.20
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	-0.20

Return for Risk

CAIE vs. RBIL — 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

RBIL

RBIL Risk / Return Rank: 97
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 98
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 95
RBIL Martin Ratio Rank: 97

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. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	1.95	4.39	-2.44
Sortino ratio: Return per unit of downside risk	2.68	6.77	-4.09
Omega ratio: Gain probability vs. loss probability	1.35	2.14	-0.79
Calmar ratio: Return relative to maximum drawdown	3.02	7.31	-4.28
Martin ratio: Return relative to average drawdown	13.03	38.55	-25.52

CAIE vs. RBIL - Sharpe Ratio Comparison

The current CAIE Sharpe Ratio is 1.95, which is lower than the RBIL Sharpe Ratio of 4.39. The chart below compares the historical Sharpe Ratios of CAIE and RBIL, 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. RBIL - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, which is greater than RBIL's maximum drawdown of -0.56%. Use the drawdown chart below to compare losses from any high point for CAIE and RBIL.

Drawdown Indicators

	CAIE	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-0.56%	-7.17%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-0.56%	-7.17%
Current Drawdown Current decline from peak	-2.25%	-0.51%	-1.74%
Average Drawdown Average peak-to-trough decline	-1.10%	-0.07%	-1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	0.11%	+1.68%

Volatility

CAIE vs. RBIL - Volatility Comparison

Calamos Autocallable Income ETF (CAIE) has a higher volatility of 3.37% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.37%. This indicates that CAIE's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAIE	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	0.37%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	0.86%	+7.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	0.94%	+11.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.00%	1.07%	+10.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.00%	1.07%	+10.93%

CAIE vs. RBIL - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than RBIL's 0.17% expense ratio.

Dividends

CAIE vs. RBIL - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.34%, more than RBIL's 4.38% yield.

Position	TTM	2025
CAIE Calamos Autocallable Income ETF	13.34%	7.46%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.38%	3.65%

Frequently Asked Questions

Can I hold both CAIE and RBIL in my portfolio?

CAIE and RBIL have a correlation of -0.20, 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 RBIL?

CAIE has higher volatility (3.37%) compared to RBIL (0.37%). In terms of maximum drawdown, CAIE dropped -7.73% vs RBIL's -0.56%.

Which ETF is better, CAIE or RBIL?

On 1-year performance, CAIE leads with 23.25% vs 4.09% for RBIL. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CAIE or RBIL?

Over the 1-year period, CAIE has performed better with a 23.25% return vs 4.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CAIE or RBIL?

RBIL is cheaper with a 0.17% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.34%, compared with 4.38% for RBIL.

What is the main difference between CAIE and RBIL?

CAIE is categorized as Derivative Income, while RBIL is Inflation-Protected Bonds. CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: Calamos and F/m. Their fees differ too: 0.74% for CAIE and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (4.39 vs 1.95), 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.