CAIE vs. XOP

Last updated Jun 16, 2026

CAIE (Calamos Autocallable Income ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both exchange-traded funds - CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index, while XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. At a correlation of -0.08, they often move in opposite directions. CAIE charges 0.74%/yr vs 0.35%/yr for XOP.

Performance

CAIE vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Autocallable Income ETF (CAIE) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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 XOP's 25.93% return.

CAIE

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

XOP

• 1D: -4.22%
• 1M: -9.06%
• YTD: 25.93%
• 6M: 23.31%
• 1Y: 22.12%
• 3Y*: 10.05%
• 5Y*: 12.85%
• 10Y*: 3.15%

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

CAIE vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025
CAIE Calamos Autocallable Income ETF	8.63%	15.12%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	25.93%	0.01%

Correlation

The correlation between CAIE and XOP is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	-0.08

CAIE vs. XOP - Sectors Allocation Comparison

Sectors	CAIE	XOP
Basic Materials	13.2%	3.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	96.8%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CAIE vs. XOP — 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.

XOP

XOP Risk / Return Rank: 26
XOP Sharpe Ratio Rank: 24
XOP Sortino Ratio Rank: 23
XOP Omega Ratio Rank: 23
XOP Calmar Ratio Rank: 31
XOP Martin Ratio Rank: 28

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. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Autocallable Income ETF (CAIE) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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	XOP	Difference
Sharpe ratio: Return per unit of total volatility	—	0.79	—
Sortino ratio: Return per unit of downside risk	—	1.18	—
Omega ratio: Gain probability vs. loss probability	—	1.14	—
Calmar ratio: Return relative to maximum drawdown	—	1.40	—
Martin ratio: Return relative to average drawdown	—	3.53	—

Drawdowns

CAIE vs. XOP - Drawdown Comparison

The maximum CAIE drawdown since its inception was -7.73%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for CAIE and XOP.

Drawdown Indicators

	CAIE	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-7.73%	-90.27%	+82.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	-0.80%	-41.14%	+40.34%
Average Drawdown Average peak-to-trough decline	-1.08%	-42.58%	+41.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.28%	—

Volatility

Volatility by Period

	CAIE	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	28.29%	-16.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.08%	34.01%	-21.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.08%	40.30%	-28.22%

CAIE vs. XOP - Expense Ratio Comparison

CAIE has a 0.74% expense ratio, which is higher than XOP's 0.35% expense ratio.

Dividends

CAIE vs. XOP - Dividend Comparison

CAIE's dividend yield for the trailing twelve months is around 13.15%, more than XOP's 2.05% 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%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	2.05%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both CAIE and XOP in my portfolio?

CAIE and XOP have a correlation of -0.08, 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 XOP?

On fees, XOP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIE or XOP?

XOP is cheaper with a 0.35% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 2.05% for XOP.

What is the main difference between CAIE and XOP?

CAIE is categorized as Derivative Income, while XOP is Energy Equities. CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: Calamos and State Street. Their fees differ too: 0.74% for CAIE and 0.35% for XOP.