CAIE vs. TLTX

Last updated Jun 5, 2026

CAIE (Calamos Autocallable Income ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while TLTX is a Government Bonds fund actively managed by Global X. CAIE is passively managed, while TLTX is actively managed. At a 0.26 correlation, their price movements are largely independent. CAIE charges 0.74%/yr vs 0.29%/yr for TLTX.

Performance

CAIE vs. TLTX - Performance Comparison

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

Returns By Period

In the year-to-date period, CAIE achieves a 9.42% return, which is significantly higher than TLTX's 0.25% return.

CAIE

• 1D: 0.33%
• 1M: 3.38%
• YTD: 9.42%
• 6M: 9.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTX

• 1D: 0.61%
• 1M: 0.23%
• YTD: 0.25%
• 6M: -0.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIE vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	9.42%	10.76%
TLTX Global X Treasury Bond Enhanced Income ETF	0.25%	5.40%

Correlation

The correlation between CAIE and TLTX is 0.26, 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 Jul 17, 2025	0.26

Return for Risk

CAIE vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and Global X Treasury Bond Enhanced Income ETF (TLTX). 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.

Sharpe Ratios by Period

	CAIE	TLTX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.34	0.70	+1.64

Drawdowns

CAIE vs. TLTX - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, which is greater than TLTX's maximum drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for CAIE and TLTX.

Drawdown Indicators

	CAIE	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-6.35%	-1.38%
Current Drawdown Current decline from peak	-0.07%	-3.46%	+3.39%
Average Drawdown Average peak-to-trough decline	-1.05%	-2.27%	+1.22%

Volatility

Volatility by Period

	CAIE	TLTX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	9.14%	+2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.91%	9.14%	+2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.91%	9.14%	+2.77%

CAIE vs. TLTX - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than TLTX's 0.29% expense ratio.

Dividends

CAIE vs. TLTX - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.05%, less than TLTX's 15.70% yield.

Position	TTM	2025
CAIE Calamos Autocallable Income ETF	13.05%	7.46%
TLTX Global X Treasury Bond Enhanced Income ETF	15.70%	7.54%

Frequently Asked Questions

Can I hold both CAIE and TLTX in my portfolio?

CAIE and TLTX have a correlation of 0.26, 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 TLTX?

On fees, TLTX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or TLTX?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.74% for CAIE.

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

TLTX has the higher dividend yield at 15.70%, compared with 13.05% for CAIE.

What is the main difference between CAIE and TLTX?

CAIE is categorized as Derivative Income, while TLTX is Government Bonds. They also come from different issuers: Calamos and Global X. Their fees differ too: 0.74% for CAIE and 0.29% for TLTX.