CAIQ vs. JEPQ

Last updated Jun 6, 2026

CAIQ (Calamos Nasdaq Autocallable Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds - CAIQ tracks the MerQube Nasdaq-100 Vol Advantage Autocallable Index while JEPQ tracks the Nasdaq-100 Index. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. CAIQ charges 0.74%/yr vs 0.35%/yr for JEPQ.

Performance

CAIQ vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Nasdaq Autocallable Income ETF (CAIQ) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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 higher than JEPQ's 6.12% return.

CAIQ

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

JEPQ

• 1D: -3.01%
• 1M: 0.08%
• YTD: 6.12%
• 6M: 5.89%
• 1Y: 25.16%
• 3Y*: 19.56%
• 5Y*: —
• 10Y*: —

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

CAIQ vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	11.17%	4.03%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	6.12%	6.14%

Correlation

The correlation between CAIQ and JEPQ is 0.89, 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 Nov 21, 2025	0.89

Return for Risk

CAIQ vs. JEPQ — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 65
JEPQ Sharpe Ratio Rank: 64
JEPQ Sortino Ratio Rank: 58
JEPQ Omega Ratio Rank: 71
JEPQ Calmar Ratio Rank: 59
JEPQ Martin Ratio Rank: 75

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. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	0.94	+1.29

Drawdowns

CAIQ vs. JEPQ - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for CAIQ and JEPQ.

Drawdown Indicators

	CAIQ	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-20.07%	+11.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.82%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-2.10%	-3.22%	+1.12%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.42%	+1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.80%	—

Volatility

Volatility by Period

	CAIQ	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	12.13%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	16.66%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	16.66%	-2.51%

CAIQ vs. JEPQ - Expense Ratio Comparison

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

Dividends

CAIQ vs. JEPQ - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 8.64%, less than JEPQ's 10.39% yield.

Position	TTM	2025	2024	2023	2022
CAIQ Calamos Nasdaq Autocallable Income ETF	8.64%	1.54%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.39%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both CAIQ and JEPQ in my portfolio?

CAIQ and JEPQ have a correlation of 0.89, 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 JEPQ?

On fees, JEPQ 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 JEPQ?

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

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

JEPQ has the higher dividend yield at 10.39%, compared with 8.64% for CAIQ.

What is the main difference between CAIQ and JEPQ?

CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Calamos and JPMorgan. Their fees differ too: 0.74% for CAIQ and 0.35% for JEPQ.