CAIQ vs. EIPI

Last updated Jun 6, 2026

CAIQ (Calamos Nasdaq Autocallable Income ETF) and EIPI (FT Energy Income Partners Enhanced Income ETF) are both exchange-traded funds - CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index, while EIPI is a Derivative Income fund actively managed by First Trust. CAIQ is passively managed, while EIPI is actively managed. At a correlation of -0.19, they often move in opposite directions. CAIQ charges 0.74%/yr vs 1.11%/yr for EIPI.

Performance

CAIQ vs. EIPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Nasdaq Autocallable Income ETF (CAIQ) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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 EIPI's 14.86% return.

CAIQ

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

EIPI

• 1D: -0.58%
• 1M: -0.30%
• YTD: 14.86%
• 6M: 13.75%
• 1Y: 22.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIQ vs. EIPI - Yearly Performance Comparison

	2026 (YTD)	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	11.17%	4.03%
EIPI FT Energy Income Partners Enhanced Income ETF	14.86%	0.40%

Correlation

The correlation between CAIQ and EIPI is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	-0.19

Return for Risk

CAIQ vs. EIPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EIPI

EIPI Risk / Return Rank: 82
EIPI Sharpe Ratio Rank: 78
EIPI Sortino Ratio Rank: 82
EIPI Omega Ratio Rank: 73
EIPI Calmar Ratio Rank: 91
EIPI Martin Ratio Rank: 86

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.

CAIQ vs. EIPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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	EIPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	1.52	+0.71

Drawdowns

CAIQ vs. EIPI - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, smaller than the maximum EIPI drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for CAIQ and EIPI.

Drawdown Indicators

	CAIQ	EIPI	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-12.33%	+3.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.00%	—
Current Drawdown Current decline from peak	-2.10%	-2.35%	+0.25%
Average Drawdown Average peak-to-trough decline	-1.72%	-1.67%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.33%	—

Volatility

Volatility by Period

	CAIQ	EIPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	9.52%	+4.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	13.07%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	13.07%	+1.08%

CAIQ vs. EIPI - Expense Ratio Comparison

CAIQ has a 0.74% expense ratio, which is lower than EIPI's 1.11% expense ratio.

Dividends

CAIQ vs. EIPI - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 8.64%, more than EIPI's 6.76% yield.

Position	TTM	2025	2024
CAIQ Calamos Nasdaq Autocallable Income ETF	8.64%	1.54%	0.00%
EIPI FT Energy Income Partners Enhanced Income ETF	6.76%	9.71%	6.31%

Frequently Asked Questions

Can I hold both CAIQ and EIPI in my portfolio?

CAIQ and EIPI have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAIQ or EIPI?

On fees, CAIQ is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIQ or EIPI?

CAIQ is cheaper with a 0.74% expense ratio, compared with 1.11% for EIPI.

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

CAIQ has the higher dividend yield at 8.64%, compared with 6.76% for EIPI.

What is the main difference between CAIQ and EIPI?

CAIQ is categorized as Nasdaq-100, while EIPI is Derivative Income. They also come from different issuers: Calamos and First Trust. Their fees differ too: 0.74% for CAIQ and 1.11% for EIPI.