CANQ vs. QQQI

Last updated Jul 31, 2026

CANQ (Calamos Alternative Nasdaq & Bond ETF) and QQQI (NEOS Nasdaq-100 High Income ETF) are both Nasdaq-100 funds. Both are actively managed. Over the past year, CANQ returned 7.60% vs 14.79% for QQQI. Their correlation of 0.88 means they have usually moved in the same direction. CANQ charges 0.90%/yr vs 0.68%/yr for QQQI.

Performance

CANQ vs. QQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Alternative Nasdaq & Bond ETF (CANQ) and NEOS Nasdaq-100 High Income ETF (QQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CANQ achieves a 2.75% return, which is significantly lower than QQQI's 6.18% return.

CANQ

• 1D: 1.18%
• 1M: -1.83%
• 6M: 2.13%
• YTD: 2.75%
• 1Y: 7.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.51%

QQQI

• 1D: 3.29%
• 1M: -6.16%
• 6M: 4.01%
• YTD: 6.18%
• 1Y: 14.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CANQ Calamos Alternative Nasdaq & Bond ETF	$66.24K	$65.88K	$124.45K
QQQI NEOS Nasdaq-100 High Income ETF	$353.44M	$329.06M	$358.77M

CANQ vs. QQQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CANQ Calamos Alternative Nasdaq & Bond ETF	2.75%	11.69%	18.99%
QQQI NEOS Nasdaq-100 High Income ETF	6.18%	18.62%	16.96%

Correlation

The correlation between CANQ and QQQI is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (All Time) Calculated using the full available price history since Feb 13, 2024	0.88

The correlation between CANQ and QQQI has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

CANQ vs. QQQI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CANQ

CANQ Risk / Return Rank: 25
CANQ Sharpe Ratio Rank: 27
CANQ Sortino Ratio Rank: 26
CANQ Omega Ratio Rank: 25
CANQ Calmar Ratio Rank: 24
CANQ Martin Ratio Rank: 25

QQQI

QQQI Risk / Return Rank: 42
QQQI Sharpe Ratio Rank: 39
QQQI Sortino Ratio Rank: 37
QQQI Omega Ratio Rank: 38
QQQI Calmar Ratio Rank: 46
QQQI Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CANQ vs. QQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Alternative Nasdaq & Bond ETF (CANQ) and NEOS Nasdaq-100 High Income ETF (QQQI). 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.

	CANQ	QQQI	Difference
Sharpe ratio: Return per unit of total volatility	0.66	0.91	-0.25
Sortino ratio: Return per unit of downside risk	0.98	1.32	-0.34
Omega ratio: Gain probability vs. loss probability	1.12	1.17	-0.05
Calmar ratio: Return relative to maximum drawdown	0.71	1.55	-0.84
Martin ratio: Return relative to average drawdown	2.03	5.62	-3.59

CANQ vs. QQQI - Sharpe Ratio Comparison

The current CANQ Sharpe Ratio is 0.66, which is comparable to the QQQI Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of CANQ and QQQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CANQ vs. QQQI - Drawdown Comparison

The maximum CANQ drawdown since its inception was -12.79%, smaller than the maximum QQQI drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for CANQ and QQQI.

Drawdown Indicators

	CANQ	QQQI	Difference
Max Drawdown Largest peak-to-trough decline	-12.79%	-20.00%	+7.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	-9.61%	-1.16%
Current Drawdown Current decline from peak	-4.86%	-6.56%	+1.70%
Average Drawdown Average peak-to-trough decline	-2.99%	-2.27%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	2.64%	+1.11%

Volatility

CANQ vs. QQQI - Volatility Comparison

The current volatility for Calamos Alternative Nasdaq & Bond ETF (CANQ) is 3.12%, while NEOS Nasdaq-100 High Income ETF (QQQI) has a volatility of 6.51%. This indicates that CANQ experiences smaller price fluctuations and is considered to be less risky than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CANQ	QQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	6.51%	-3.39%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	13.65%	-4.88%
Volatility (1Y) Calculated over the trailing 1-year period	11.64%	16.34%	-4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	17.76%	-5.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.76%	17.76%	-5.00%

CANQ vs. QQQI - Expense Ratio Comparison

CANQ has a 0.90% expense ratio, which is higher than QQQI's 0.68% expense ratio.

Dividends

CANQ vs. QQQI - Dividend Comparison

CANQ's dividend yield for the trailing twelve months is around 4.59%, less than QQQI's 14.47% yield.

Position	TTM	2025	2024
CANQ Calamos Alternative Nasdaq & Bond ETF	4.59%	5.02%	4.19%
QQQI NEOS Nasdaq-100 High Income ETF	14.47%	13.82%	12.85%

Frequently Asked Questions

Can I hold both CANQ and QQQI in my portfolio?

CANQ and QQQI have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CANQ or QQQI?

QQQI has higher volatility (6.51%) compared to CANQ (3.12%). In terms of maximum drawdown, CANQ dropped -12.79% vs QQQI's -20.00%.

Which ETF is better, CANQ or QQQI?

On 1-year performance, QQQI leads with 14.79% vs 7.60% for CANQ. On fees, QQQI is cheaper at 0.68% per year. On volatility, CANQ has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CANQ or QQQI?

Over the 1-year period, QQQI has performed better with a 14.79% return vs 7.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CANQ or QQQI?

QQQI is cheaper with a 0.68% expense ratio, compared with 0.90% for CANQ.

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

QQQI has the higher dividend yield at 14.47%, compared with 4.59% for CANQ.

What is the main difference between CANQ and QQQI?

They also come from different issuers: Calamos and Neos. Their fees differ too: 0.90% for CANQ and 0.68% for QQQI.

Which has better risk-adjusted returns?

QQQI currently has the higher Sharpe Ratio (0.91 vs 0.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.