CANQ vs. BALQ

Last updated Jun 4, 2026

CANQ (Calamos Alternative Nasdaq & Bond ETF) and BALQ (iShares Nasdaq Premium Income Active ETF) are both Nasdaq-100 funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. CANQ charges 0.90%/yr vs 0.35%/yr for BALQ.

Performance

CANQ vs. BALQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Alternative Nasdaq & Bond ETF (CANQ) and iShares Nasdaq Premium Income Active ETF (BALQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CANQ achieves a 7.60% return, which is significantly lower than BALQ's 22.89% return.

CANQ

• 1D: -0.37%
• 1M: 5.62%
• YTD: 7.60%
• 6M: 5.52%
• 1Y: 17.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALQ

• 1D: -0.21%
• 1M: 11.15%
• YTD: 22.89%
• 6M: 22.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CANQ vs. BALQ - Yearly Performance Comparison

	2026 (YTD)	2025
CANQ Calamos Alternative Nasdaq & Bond ETF	7.60%	-1.93%
BALQ iShares Nasdaq Premium Income Active ETF	22.89%	-0.49%

Correlation

The correlation between CANQ and BALQ is 0.93, 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 Dec 4, 2025	0.93

Return for Risk

CANQ vs. BALQ — Risk / Return Rank

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

CANQ

CANQ Risk / Return Rank: 42
CANQ Sharpe Ratio Rank: 48
CANQ Sortino Ratio Rank: 48
CANQ Omega Ratio Rank: 47
CANQ Calmar Ratio Rank: 34
CANQ Martin Ratio Rank: 34

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.

CANQ vs. BALQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Alternative Nasdaq & Bond ETF (CANQ) and iShares Nasdaq Premium Income Active ETF (BALQ). 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.

	CANQ	BALQ	Difference
Sharpe ratio: Return per unit of total volatility	1.67	—	—
Sortino ratio: Return per unit of downside risk	2.37	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	1.67	—	—
Martin ratio: Return relative to average drawdown	5.17	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CANQ	BALQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	2.81	-1.46

Drawdowns

CANQ vs. BALQ - Drawdown Comparison

The maximum CANQ drawdown since its inception was -12.79%, which is greater than BALQ's maximum drawdown of -11.79%. Use the drawdown chart below to compare losses from any high point for CANQ and BALQ.

Drawdown Indicators

	CANQ	BALQ	Difference
Max Drawdown Largest peak-to-trough decline	-12.79%	-11.79%	-1.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	—	—
Current Drawdown Current decline from peak	-0.37%	-0.21%	-0.16%
Average Drawdown Average peak-to-trough decline	-2.95%	-2.37%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	—	—

Volatility

Volatility by Period

	CANQ	BALQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.76%	18.03%	-7.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.69%	18.03%	-5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.69%	18.03%	-5.34%

CANQ vs. BALQ - Expense Ratio Comparison

CANQ has a 0.90% expense ratio, which is higher than BALQ's 0.35% expense ratio.

Dividends

CANQ vs. BALQ - Dividend Comparison

CANQ's dividend yield for the trailing twelve months is around 4.36%, less than BALQ's 4.59% yield.

Position	TTM	2025	2024
BALQ iShares Nasdaq Premium Income Active ETF	4.59%	0.95%	0.00%
CANQ Calamos Alternative Nasdaq & Bond ETF	4.36%	5.02%	4.19%

Frequently Asked Questions

Can I hold both CANQ and BALQ in my portfolio?

With a correlation of 0.93, CANQ and BALQ 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, CANQ or BALQ?

On fees, BALQ 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, CANQ or BALQ?

BALQ is cheaper with a 0.35% expense ratio, compared with 0.90% for CANQ.

Which ETF pays a higher dividend yield, CANQ or BALQ?

BALQ has the higher dividend yield at 4.59%, compared with 4.36% for CANQ.

What is the main difference between CANQ and BALQ?

They also come from different issuers: Calamos and iShares. Their fees differ too: 0.90% for CANQ and 0.35% for BALQ.