CAIQ vs. QQQE

Last updated Jun 26, 2026

CAIQ (Calamos Nasdaq Autocallable Income ETF) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both Nasdaq-100 funds - CAIQ tracks the MerQube Nasdaq-100 Vol Advantage Autocallable Index while QQQE 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 0.35%/yr for QQQE.

Performance

CAIQ vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Nasdaq Autocallable Income ETF (CAIQ) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAIQ achieves a 11.57% return, which is significantly lower than QQQE's 17.16% return.

CAIQ

• 1D: 0.27%
• 1M: -1.17%
• YTD: 11.57%
• 6M: 10.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQE

• 1D: 0.68%
• 1M: 1.10%
• YTD: 17.16%
• 6M: 15.52%
• 1Y: 24.45%
• 3Y*: 17.83%
• 5Y*: 9.20%
• 10Y*: 16.24%

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

CAIQ vs. QQQE - Yearly Performance Comparison

	2026 (YTD)	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	11.57%	4.03%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	17.16%	3.47%

Correlation

The correlation between CAIQ and QQQE 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 Nov 20, 2025	0.82

Return for Risk

CAIQ vs. QQQE — Risk / Return Rank

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

CAIQ

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

QQQE

QQQE Risk / Return Rank: 54
QQQE Sharpe Ratio Rank: 53
QQQE Sortino Ratio Rank: 50
QQQE Omega Ratio Rank: 50
QQQE Calmar Ratio Rank: 61
QQQE Martin Ratio Rank: 57

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. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.

	CAIQ	QQQE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.58	—
Sortino ratio: Return per unit of downside risk	—	2.16	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.61	—
Martin ratio: Return relative to average drawdown	—	8.73	—

Drawdowns

CAIQ vs. QQQE - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, smaller than the maximum QQQE drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for CAIQ and QQQE.

Drawdown Indicators

	CAIQ	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-32.14%	+23.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.14%	—
Current Drawdown Current decline from peak	-1.74%	-2.48%	+0.74%
Average Drawdown Average peak-to-trough decline	-1.68%	-5.15%	+3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.81%	—

Volatility

Volatility by Period

	CAIQ	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.68%	15.57%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.68%	20.54%	-6.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.68%	20.79%	-7.11%

CAIQ vs. QQQE - Expense Ratio Comparison

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

Dividends

CAIQ vs. QQQE - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 8.61%, more than QQQE's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAIQ Calamos Nasdaq Autocallable Income ETF	8.61%	1.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.57%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both CAIQ and QQQE in my portfolio?

CAIQ and QQQE 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 QQQE?

On fees, QQQE 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 QQQE?

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

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

CAIQ has the higher dividend yield at 8.61%, compared with 0.57% for QQQE.

What is the main difference between CAIQ and QQQE?

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