CAIQ vs. IQQ

Last updated Aug 6, 2026

CAIQ (Calamos Nasdaq Autocallable Income ETF) and IQQ (iShares Nasdaq 100 ETF) are both Nasdaq-100 funds - CAIQ tracks the MerQube Nasdaq-100 Vol Advantage Autocallable Index while IQQ tracks the NASDAQ-100 Index. Both are passively managed. Their 0.97 correlation means they have historically moved very closely together. CAIQ charges 0.74%/yr vs 0.10%/yr for IQQ.

Performance

CAIQ vs. IQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Nasdaq Autocallable Income ETF (CAIQ) and iShares Nasdaq 100 ETF (IQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CAIQ

• 1D: -0.37%
• 1M: 0.02%
• 6M: 13.09%
• YTD: 11.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IQQ

• 1D: -0.90%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAIQ Calamos Nasdaq Autocallable Income ETF	$5.85M	$5.71M	$5.27M
IQQ iShares Nasdaq 100 ETF	$30.00M	$35.28M	$35.28M

CAIQ vs. IQQ - Yearly Performance Comparison

	2026 (YTD)
CAIQ Calamos Nasdaq Autocallable Income ETF	0.29%
IQQ iShares Nasdaq 100 ETF	-0.53%

Correlation

The correlation between CAIQ and IQQ is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2026	0.97

Return for Risk

CAIQ vs. IQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and iShares Nasdaq 100 ETF (IQQ). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

CAIQ vs. IQQ - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, roughly equal to the maximum IQQ drawdown of -8.80%. Use the drawdown chart below to compare losses from any high point for CAIQ and IQQ.

Drawdown Indicators

	CAIQ	IQQ	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-8.80%	-0.26%
Current Drawdown Current decline from peak	-1.48%	-1.14%	-0.34%
Average Drawdown Average peak-to-trough decline	-1.84%	-3.39%	+1.55%

Volatility

Volatility by Period

	CAIQ	IQQ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.66%	25.88%	-12.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.66%	25.88%	-12.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.66%	25.88%	-12.22%

CAIQ vs. IQQ - Expense Ratio Comparison

CAIQ has a 0.74% expense ratio, which is higher than IQQ's 0.10% expense ratio.

Dividends

CAIQ vs. IQQ - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 11.77%, while IQQ has not paid dividends to shareholders.

Position	TTM	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	11.77%	1.54%
IQQ iShares Nasdaq 100 ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAIQ and IQQ in my portfolio?

With a correlation of 0.97, CAIQ and IQQ 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 IQQ?

On fees, IQQ is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIQ or IQQ?

IQQ is cheaper with a 0.10% expense ratio, compared with 0.74% for CAIQ.

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

CAIQ has the higher dividend yield at 11.77%, compared with 0.00% for IQQ.

What is the main difference between CAIQ and IQQ?

CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index, while IQQ tracks NASDAQ-100 Index. They also come from different issuers: Calamos and iShares. Their fees differ too: 0.74% for CAIQ and 0.10% for IQQ.