CAIQ vs. XOP
CAIQ (Calamos Nasdaq Autocallable Income ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both exchange-traded funds - CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index, while XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. At a correlation of -0.30, they often move in opposite directions. CAIQ charges 0.74%/yr vs 0.35%/yr for XOP.
Performance
CAIQ vs. XOP - Performance Comparison
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Returns By Period
In the year-to-date period, CAIQ achieves a 12.96% return, which is significantly lower than XOP's 25.93% return.
CAIQ
- 1D
- 0.83%
- 1M
- 1.36%
- YTD
- 12.96%
- 6M
- 14.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XOP
- 1D
- -4.22%
- 1M
- -9.06%
- YTD
- 25.93%
- 6M
- 23.31%
- 1Y
- 22.12%
- 3Y*
- 10.05%
- 5Y*
- 12.85%
- 10Y*
- 3.15%
CAIQ vs. XOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CAIQ Calamos Nasdaq Autocallable Income ETF | 12.96% | 4.03% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 25.93% | -3.56% |
Correlation
The correlation between CAIQ and XOP is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.30 |
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Return for Risk
CAIQ vs. XOP — Risk / Return Rank
CAIQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XOP
CAIQ vs. XOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Nasdaq Autocallable Income ETF (CAIQ) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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 | XOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.14 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.40 | — |
| Martin ratioReturn relative to average drawdown | — | 3.53 | — |
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Drawdowns
CAIQ vs. XOP - Drawdown Comparison
The maximum CAIQ drawdown since its inception was -9.06%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for CAIQ and XOP.
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Drawdown Indicators
| CAIQ | XOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.06% | -90.27% | +81.21% |
Max Drawdown (1Y)Largest decline over 1 year | — | -15.85% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.98% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.61% | — |
Current DrawdownCurrent decline from peak | -0.52% | -41.14% | +40.62% |
Average DrawdownAverage peak-to-trough decline | -1.70% | -42.58% | +40.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.28% | — |
Volatility
CAIQ vs. XOP - Volatility Comparison
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Volatility by Period
| CAIQ | XOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.98% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 22.50% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.91% | 28.29% | -14.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.91% | 34.01% | -20.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.91% | 40.30% | -26.39% |
CAIQ vs. XOP - Expense Ratio Comparison
CAIQ has a 0.74% expense ratio, which is higher than XOP's 0.35% expense ratio.
Dividends
CAIQ vs. XOP - Dividend Comparison
CAIQ's dividend yield for the trailing twelve months is around 8.50%, more than XOP's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAIQ Calamos Nasdaq Autocallable Income ETF | 8.50% | 1.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 2.05% | 2.62% | 2.45% | 2.63% | 2.47% | 1.61% | 2.34% | 1.47% | 0.99% | 0.76% | 0.76% | 2.21% |
Frequently Asked Questions
CAIQ and XOP have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XOP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XOP is cheaper with a 0.35% expense ratio, compared with 0.74% for CAIQ.
CAIQ has the higher dividend yield at 8.50%, compared with 2.05% for XOP.
CAIQ is categorized as Nasdaq-100, while XOP is Energy Equities. CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: Calamos and State Street. Their fees differ too: 0.74% for CAIQ and 0.35% for XOP.
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