CAIQ vs. QQMG

Last updated Jun 6, 2026

CAIQ (Calamos Nasdaq Autocallable Income ETF) and QQMG (Invesco ESG NASDAQ 100 ETF) are both Nasdaq-100 funds - CAIQ tracks the MerQube Nasdaq-100 Vol Advantage Autocallable Index while QQMG tracks the Nasdaq-100 ESG Total Return Index. Both are passively managed. Their correlation of 0.92 suggests significant overlap in exposure. CAIQ charges 0.74%/yr vs 0.20%/yr for QQMG.

Performance

CAIQ vs. QQMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Nasdaq Autocallable Income ETF (CAIQ) and Invesco ESG NASDAQ 100 ETF (QQMG). 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 QQMG's 15.67% return.

CAIQ

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

QQMG

• 1D: -4.75%
• 1M: 2.22%
• YTD: 15.67%
• 6M: 13.99%
• 1Y: 37.42%
• 3Y*: 27.41%
• 5Y*: —
• 10Y*: —

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

CAIQ vs. QQMG - Yearly Performance Comparison

	2026 (YTD)	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	11.17%	4.03%
QQMG Invesco ESG NASDAQ 100 ETF	15.67%	4.98%

Correlation

The correlation between CAIQ and QQMG 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 Nov 21, 2025	0.92

Return for Risk

CAIQ vs. QQMG — Risk / Return Rank

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

QQMG

QQMG Risk / Return Rank: 63
QQMG Sharpe Ratio Rank: 68
QQMG Sortino Ratio Rank: 61
QQMG Omega Ratio Rank: 63
QQMG Calmar Ratio Rank: 62
QQMG Martin Ratio Rank: 63

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. QQMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and Invesco ESG NASDAQ 100 ETF (QQMG). 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	QQMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	0.68	+1.55

Drawdowns

CAIQ vs. QQMG - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, smaller than the maximum QQMG drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for CAIQ and QQMG.

Drawdown Indicators

	CAIQ	QQMG	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-35.43%	+26.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.67%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.79%	—
Current Drawdown Current decline from peak	-2.10%	-5.47%	+3.37%
Average Drawdown Average peak-to-trough decline	-1.72%	-9.60%	+7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.42%	—

Volatility

Volatility by Period

	CAIQ	QQMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	17.47%	-3.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	23.68%	-9.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	23.68%	-9.53%

CAIQ vs. QQMG - Expense Ratio Comparison

CAIQ has a 0.74% expense ratio, which is higher than QQMG's 0.20% expense ratio.

Dividends

CAIQ vs. QQMG - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 8.64%, more than QQMG's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021
CAIQ Calamos Nasdaq Autocallable Income ETF	8.64%	1.54%	0.00%	0.00%	0.00%	0.00%
QQMG Invesco ESG NASDAQ 100 ETF	0.35%	0.41%	0.50%	0.60%	0.82%	0.08%

Frequently Asked Questions

Can I hold both CAIQ and QQMG in my portfolio?

With a correlation of 0.92, CAIQ and QQMG 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 QQMG?

On fees, QQMG is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAIQ or QQMG?

QQMG is cheaper with a 0.20% expense ratio, compared with 0.74% for CAIQ.

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

CAIQ has the higher dividend yield at 8.64%, compared with 0.35% for QQMG.

What is the main difference between CAIQ and QQMG?

CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index, while QQMG tracks Nasdaq-100 ESG Total Return Index. They also come from different issuers: Calamos and Invesco. Their fees differ too: 0.74% for CAIQ and 0.20% for QQMG.