CAIQ vs. BALQ

Last updated Jun 6, 2026

CAIQ (Calamos Nasdaq Autocallable Income ETF) and BALQ (iShares Nasdaq Premium Income Active ETF) are both Nasdaq-100 funds. CAIQ is passively managed, while BALQ is actively managed. Their correlation of 0.92 suggests significant overlap in exposure. CAIQ charges 0.74%/yr vs 0.35%/yr for BALQ.

Performance

CAIQ vs. BALQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Nasdaq Autocallable Income ETF (CAIQ) and iShares Nasdaq Premium Income Active ETF (BALQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAIQ achieves a 11.17% return, which is significantly lower than BALQ's 16.22% return.

CAIQ

• 1D: -1.66%
• 1M: 0.36%
• YTD: 11.17%
• 6M: 10.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALQ

• 1D: -5.01%
• 1M: 1.33%
• YTD: 16.22%
• 6M: 15.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIQ vs. BALQ - Yearly Performance Comparison

	2026 (YTD)	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	11.17%	-0.45%
BALQ iShares Nasdaq Premium Income Active ETF	16.22%	-0.49%

Correlation

The correlation between CAIQ and BALQ is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025	0.92

Return for Risk

CAIQ vs. BALQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and iShares Nasdaq Premium Income Active ETF (BALQ). 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

	CAIQ	BALQ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	1.75	+0.48

Drawdowns

CAIQ vs. BALQ - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, smaller than the maximum BALQ drawdown of -11.79%. Use the drawdown chart below to compare losses from any high point for CAIQ and BALQ.

Drawdown Indicators

	CAIQ	BALQ	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-11.79%	+2.73%
Current Drawdown Current decline from peak	-2.10%	-5.62%	+3.52%
Average Drawdown Average peak-to-trough decline	-1.72%	-2.38%	+0.66%

Volatility

Volatility by Period

	CAIQ	BALQ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	19.34%	-5.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	19.34%	-5.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	19.34%	-5.19%

CAIQ vs. BALQ - Expense Ratio Comparison

CAIQ has a 0.74% expense ratio, which is higher than BALQ's 0.35% expense ratio.

Dividends

CAIQ vs. BALQ - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 8.64%, more than BALQ's 4.85% yield.

Position	TTM	2025
BALQ iShares Nasdaq Premium Income Active ETF	4.85%	0.95%
CAIQ Calamos Nasdaq Autocallable Income ETF	8.64%	1.54%

Frequently Asked Questions

Can I hold both CAIQ and BALQ in my portfolio?

With a correlation of 0.92, CAIQ and BALQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, CAIQ or BALQ?

On fees, BALQ 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, CAIQ or BALQ?

BALQ is cheaper with a 0.35% expense ratio, compared with 0.74% for CAIQ.

Which ETF pays a higher dividend yield, CAIQ or BALQ?

CAIQ has the higher dividend yield at 8.64%, compared with 4.85% for BALQ.

What is the main difference between CAIQ and BALQ?

They also come from different issuers: Calamos and iShares. Their fees differ too: 0.74% for CAIQ and 0.35% for BALQ.