CAIE vs. XLK

Last updated Jun 16, 2026

CAIE (Calamos Autocallable Income ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. CAIE charges 0.74%/yr vs 0.08%/yr for XLK.

Performance

CAIE vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Income ETF (CAIE) and State Street Technology Select Sector SPDR ETF (XLK). 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 XLK's 33.38% return.

CAIE

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

XLK

• 1D: 3.78%
• 1M: 8.81%
• YTD: 33.38%
• 6M: 35.15%
• 1Y: 61.29%
• 3Y*: 31.25%
• 5Y*: 22.96%
• 10Y*: 25.75%

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

CAIE vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	8.63%	15.12%
XLK State Street Technology Select Sector SPDR ETF	33.38%	16.79%

Correlation

The correlation between CAIE and XLK is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.76

CAIE vs. XLK - Sectors Allocation Comparison

Sectors	CAIE	XLK
Basic Materials	13.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.2%
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Technology	-	99.7%
Utilities	-	-

Return for Risk

CAIE vs. XLK — 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.

XLK

XLK Risk / Return Rank: 82
XLK Sharpe Ratio Rank: 90
XLK Sortino Ratio Rank: 83
XLK Omega Ratio Rank: 83
XLK Calmar Ratio Rank: 82
XLK Martin Ratio Rank: 74

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. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and State Street Technology Select Sector SPDR ETF (XLK). 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	XLK	Difference
Sharpe ratio: Return per unit of total volatility	—	2.71	—
Sortino ratio: Return per unit of downside risk	—	3.26	—
Omega ratio: Gain probability vs. loss probability	—	1.44	—
Calmar ratio: Return relative to maximum drawdown	—	3.87	—
Martin ratio: Return relative to average drawdown	—	12.48	—

Drawdowns

CAIE vs. XLK - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for CAIE and XLK.

Drawdown Indicators

	CAIE	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-82.05%	+74.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.92%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-25.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-0.80%	-3.24%	+2.44%
Average Drawdown Average peak-to-trough decline	-1.08%	-34.92%	+33.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.92%	—

Volatility

Volatility by Period

	CAIE	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	22.81%	-10.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.08%	25.24%	-13.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.08%	24.68%	-12.60%

CAIE vs. XLK - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

CAIE vs. XLK - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.15%, more than XLK's 0.40% 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%
XLK State Street Technology Select Sector SPDR ETF	0.40%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both CAIE and XLK in my portfolio?

CAIE and XLK have a correlation of 0.76, 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 XLK?

On fees, XLK is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 0.40% for XLK.

What is the main difference between CAIE and XLK?

CAIE is categorized as Derivative Income, while XLK is Technology Equities. CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: Calamos and State Street. Their fees differ too: 0.74% for CAIE and 0.08% for XLK.