CAIQ vs. QEW

Last updated Jun 6, 2026

CAIQ (Calamos Nasdaq Autocallable Income ETF) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - CAIQ tracks the MerQube Nasdaq-100 Vol Advantage Autocallable Index while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. Their correlation of 0.82 suggests significant overlap in exposure. CAIQ charges 0.74%/yr vs 0.25%/yr for QEW.

Performance

CAIQ vs. QEW - Performance Comparison

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

Returns By Period

CAIQ

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

QEW

• 1D: -4.39%
• 1M: 3.23%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIQ vs. QEW - Yearly Performance Comparison

	2026 (YTD)
CAIQ Calamos Nasdaq Autocallable Income ETF	13.29%
QEW Invesco QQQ Equal Weight ETF	16.10%

Correlation

The correlation between CAIQ and QEW is 0.82, 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 Mar 19, 2026	0.82

Return for Risk

CAIQ vs. QEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and Invesco QQQ Equal Weight ETF (QEW). 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	QEW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	5.34	-3.11

Drawdowns

CAIQ vs. QEW - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, which is greater than QEW's maximum drawdown of -4.54%. Use the drawdown chart below to compare losses from any high point for CAIQ and QEW.

Drawdown Indicators

	CAIQ	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-4.54%	-4.52%
Current Drawdown Current decline from peak	-2.10%	-4.54%	+2.44%
Average Drawdown Average peak-to-trough decline	-1.72%	-0.64%	-1.08%

Volatility

Volatility by Period

	CAIQ	QEW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	18.55%	-4.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	18.55%	-4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	18.55%	-4.40%

CAIQ vs. QEW - Expense Ratio Comparison

CAIQ has a 0.74% expense ratio, which is higher than QEW's 0.25% expense ratio.

Dividends

CAIQ vs. QEW - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 8.64%, while QEW has not paid dividends to shareholders.

Position	TTM	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	8.64%	1.54%
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAIQ and QEW in my portfolio?

CAIQ and QEW have a correlation of 0.82, 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 QEW?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIQ or QEW?

QEW is cheaper with a 0.25% expense ratio, compared with 0.74% for CAIQ.

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

CAIQ has the higher dividend yield at 8.64%, compared with 0.00% for QEW.

What is the main difference between CAIQ and QEW?

CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index, while QEW tracks Nasdaq-100 Equal Weighted Index. They also come from different issuers: Calamos and Invesco. Their fees differ too: 0.74% for CAIQ and 0.25% for QEW.