CAIE vs. SGOV

Last updated Jun 16, 2026

CAIE (Calamos Autocallable Income ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. At a correlation of -0.14, they often move in opposite directions. CAIE charges 0.74%/yr vs 0.09%/yr for SGOV.

Performance

CAIE vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Income ETF (CAIE) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 SGOV's 1.63% return.

CAIE

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

SGOV

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.63%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: 4.69%
• 5Y*: 3.56%
• 10Y*: —

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

CAIE vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	8.63%	15.12%
SGOV iShares 0-3 Month Treasury Bond ETF	1.63%	2.16%

Correlation

The correlation between CAIE and SGOV is -0.14, 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 (All Time) Calculated using the full available price history since Jun 25, 2025	-0.14

Return for Risk

CAIE vs. SGOV — 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.

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

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. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	—	20.33	—
Sortino ratio: Return per unit of downside risk	—	274.27	—
Omega ratio: Gain probability vs. loss probability	—	194.55	—
Calmar ratio: Return relative to maximum drawdown	—	396.11	—
Martin ratio: Return relative to average drawdown	—	4,438.60	—

Drawdowns

CAIE vs. SGOV - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for CAIE and SGOV.

Drawdown Indicators

	CAIE	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-0.03%	-7.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	-0.80%	0.00%	-0.80%
Average Drawdown Average peak-to-trough decline	-1.08%	-0.00%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	CAIE	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	0.19%	+11.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.08%	0.24%	+11.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.08%	0.24%	+11.84%

CAIE vs. SGOV - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

CAIE vs. SGOV - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.15%, more than SGOV's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CAIE Calamos Autocallable Income ETF	13.15%	7.46%	0.00%	0.00%	0.00%	0.00%	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	3.85%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%

Frequently Asked Questions

Can I hold both CAIE and SGOV in my portfolio?

CAIE and SGOV have a correlation of -0.14, 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 SGOV?

On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 3.85% for SGOV.

What is the main difference between CAIE and SGOV?

CAIE is categorized as Derivative Income, while SGOV is Ultrashort Bond. CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Calamos and iShares. Their fees differ too: 0.74% for CAIE and 0.09% for SGOV.