CAIE vs. WEEL

Last updated Jun 26, 2026

CAIE (Calamos Autocallable Income ETF) and WEEL (Peerless Option Income Wheel ETF) are both Derivative Income funds. CAIE is passively managed, while WEEL is actively managed. Over the past year, CAIE returned 23.25% vs 16.10% for WEEL. A 0.66 correlation means they provide meaningful diversification when combined. CAIE charges 0.74%/yr vs 0.99%/yr for WEEL.

Performance

CAIE vs. WEEL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Income ETF (CAIE) and Peerless Option Income Wheel ETF (WEEL). 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 WEEL's 4.33% return.

CAIE

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

WEEL

• 1D: 0.40%
• 1M: -1.01%
• YTD: 4.33%
• 6M: 4.49%
• 1Y: 16.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIE vs. WEEL - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	7.04%	15.12%
WEEL Peerless Option Income Wheel ETF	4.33%	10.83%

Correlation

The correlation between CAIE and WEEL is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.66

The correlation between CAIE and WEEL has been stable across timeframes, ranging from 0.66 to 0.66 - a consistent structural relationship.

CAIE vs. WEEL - Sectors Allocation Comparison

Sectors	CAIE	WEEL
Basic Materials	13.5%	9.4%
Communication Services	-	5.5%
Consumer Cyclical	-	12.6%
Consumer Defensive	-	2.0%
Energy	-	2.8%
Financial Services	-	23.3%
Healthcare	-	17.2%
Industrials	-	2.6%
Real Estate	-	4.5%
Technology	-	11.6%
Utilities	-	8.5%

Return for Risk

CAIE vs. WEEL — 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

WEEL

WEEL Risk / Return Rank: 77
WEEL Sharpe Ratio Rank: 70
WEEL Sortino Ratio Rank: 76
WEEL Omega Ratio Rank: 76
WEEL Calmar Ratio Rank: 77
WEEL Martin Ratio Rank: 87

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. WEEL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and Peerless Option Income Wheel ETF (WEEL). 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	WEEL	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.97	-0.02
Sortino ratio: Return per unit of downside risk	2.68	2.97	-0.29
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	3.02	3.51	-0.49
Martin ratio: Return relative to average drawdown	13.03	16.14	-3.11

CAIE vs. WEEL - Sharpe Ratio Comparison

The current CAIE Sharpe Ratio is 1.95, which is comparable to the WEEL Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of CAIE and WEEL, 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. WEEL - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum WEEL drawdown of -17.45%. Use the drawdown chart below to compare losses from any high point for CAIE and WEEL.

Drawdown Indicators

	CAIE	WEEL	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-17.45%	+9.72%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-4.60%	-3.13%
Current Drawdown Current decline from peak	-2.25%	-1.53%	-0.72%
Average Drawdown Average peak-to-trough decline	-1.10%	-1.44%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.00%	+0.79%

Volatility

CAIE vs. WEEL - Volatility Comparison

Calamos Autocallable Income ETF (CAIE) has a higher volatility of 3.37% compared to Peerless Option Income Wheel ETF (WEEL) at 2.95%. This indicates that CAIE's price experiences larger fluctuations and is considered to be riskier than WEEL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAIE	WEEL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	2.95%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	6.40%	+1.97%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	8.23%	+3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.00%	12.79%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.00%	12.79%	-0.79%

CAIE vs. WEEL - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is lower than WEEL's 0.99% expense ratio.

Dividends

CAIE vs. WEEL - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.34%, less than WEEL's 16.00% yield.

Position	TTM	2025	2024
CAIE Calamos Autocallable Income ETF	13.34%	7.46%	0.00%
WEEL Peerless Option Income Wheel ETF	16.00%	12.72%	6.88%

Frequently Asked Questions

Can I hold both CAIE and WEEL in my portfolio?

CAIE and WEEL have a correlation of 0.66, 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 WEEL?

CAIE has higher volatility (3.37%) compared to WEEL (2.95%). In terms of maximum drawdown, CAIE dropped -7.73% vs WEEL's -17.45%.

Which ETF is better, CAIE or WEEL?

On 1-year performance, CAIE leads with 23.25% vs 16.10% for WEEL. On fees, CAIE is cheaper at 0.74% per year. On volatility, WEEL has been the lower-risk option at 2.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CAIE or WEEL?

Over the 1-year period, CAIE has performed better with a 23.25% return vs 16.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CAIE or WEEL?

CAIE is cheaper with a 0.74% expense ratio, compared with 0.99% for WEEL.

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

WEEL has the higher dividend yield at 16.00%, compared with 13.34% for CAIE.

What is the main difference between CAIE and WEEL?

They also come from different issuers: Calamos and Peerless ETFs. Their fees differ too: 0.74% for CAIE and 0.99% for WEEL.

Which has better risk-adjusted returns?

WEEL currently has the higher Sharpe Ratio (1.97 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.