CAIQ vs. TSMY

Last updated Apr 2, 2026

Compare and contrast key facts about Calamos Nasdaq Autocallable Income ETF (CAIQ) and YieldMax TSM Option Income Strategy ETF (TSMY).

CAIQ and TSMY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CAIQ is a passively managed fund by Calamos that tracks the performance of the MerQube Nasdaq-100 Vol Advantage Autocallable Index. It was launched on Nov 20, 2024. TSMY is an actively managed fund by YieldMax. It was launched on Aug 20, 2024.

Performance

CAIQ vs. TSMY - Performance Comparison

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

CAIQ vs. TSMY - Yearly Performance Comparison

	2026 (YTD)	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	-2.89%	4.03%
TSMY YieldMax TSM Option Income Strategy ETF	10.81%	6.80%

Returns By Period

In the year-to-date period, CAIQ achieves a -2.89% return, which is significantly lower than TSMY's 10.81% return.

CAIQ

• 1D: 1.33%
• 1M: -2.45%
• YTD: -2.89%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMY

• 1D: 0.72%
• 1M: -5.15%
• YTD: 10.81%
• 6M: 16.05%
• 1Y: 79.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAIQ vs. TSMY - Expense Ratio Comparison

CAIQ has a 0.74% expense ratio, which is lower than TSMY's 0.99% expense ratio.

TSMY

YieldMax TSM Option Income Strategy ETF

CAIQ

Calamos Nasdaq Autocallable Income ETF

Return for Risk

CAIQ vs. TSMY — Risk / Return Rank

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

TSMY

TSMY Risk / Return Rank: 95
TSMY Sharpe Ratio Rank: 96
TSMY Sortino Ratio Rank: 95
TSMY Omega Ratio Rank: 93
TSMY Calmar Ratio Rank: 97
TSMY Martin Ratio Rank: 96

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. TSMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and YieldMax TSM Option Income Strategy ETF (TSMY). 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	TSMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.16	-0.96

Correlation

The correlation between CAIQ and TSMY is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CAIQ vs. TSMY - Dividend Comparison

CAIQ's dividend yield for the trailing twelve months is around 6.43%, less than TSMY's 57.44% yield.

	TTM	2025	2024
CAIQ Calamos Nasdaq Autocallable Income ETF	6.43%	1.54%	0.00%
TSMY YieldMax TSM Option Income Strategy ETF	57.44%	56.76%	13.71%

Drawdowns

CAIQ vs. TSMY - Drawdown Comparison

The maximum CAIQ drawdown since its inception was -9.06%, smaller than the maximum TSMY drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for CAIQ and TSMY.

Drawdown Indicators

	CAIQ	TSMY	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-31.15%	+22.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.50%	—
Current Drawdown Current decline from peak	-5.07%	-9.44%	+4.37%
Average Drawdown Average peak-to-trough decline	-2.21%	-5.82%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.52%	—

Volatility

Volatility by Period

	CAIQ	TSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.25%	31.08%	-16.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.25%	33.38%	-19.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	33.38%	-19.13%