CBOX vs. CAIQ

Last updated Aug 1, 2026

CBOX (Calamos Tax-Aware Collateral ETF) and CAIQ (Calamos Nasdaq Autocallable Income ETF) are both exchange-traded funds - CBOX is a Options Trading fund actively managed by Calamos, while CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index. CBOX is actively managed, while CAIQ is passively managed. Their 0.05 correlation means their historical movements had little consistent relationship. CBOX charges 0.14%/yr vs 0.74%/yr for CAIQ.

Performance

CBOX vs. CAIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Tax-Aware Collateral ETF (CBOX) and Calamos Nasdaq Autocallable Income ETF (CAIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CBOX

• 1D: 0.00%
• 1M: 0.40%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CAIQ

• 1D: 0.51%
• 1M: -2.80%
• 6M: 8.13%
• YTD: 8.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
CAIQ Calamos Nasdaq Autocallable Income ETF	$5.22M	$5.65M	$5.13M
CBOX Calamos Tax-Aware Collateral ETF	$7.89M	$8.89M	$7.14M

CBOX vs. CAIQ - Yearly Performance Comparison

	2026 (YTD)
CBOX Calamos Tax-Aware Collateral ETF	1.12%
CAIQ Calamos Nasdaq Autocallable Income ETF	3.66%

Correlation

The correlation between CBOX and CAIQ is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 17, 2026	0.05

Return for Risk

CBOX vs. CAIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Tax-Aware Collateral ETF (CBOX) and Calamos Nasdaq Autocallable Income ETF (CAIQ). 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.

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

Drawdowns

CBOX vs. CAIQ - Drawdown Comparison

The maximum CBOX drawdown since its inception was -2.90%, smaller than the maximum CAIQ drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for CBOX and CAIQ.

Drawdown Indicators

	CBOX	CAIQ	Difference
Max Drawdown Largest peak-to-trough decline	-2.90%	-9.06%	+6.16%
Current Drawdown Current decline from peak	-2.30%	-4.01%	+1.71%
Average Drawdown Average peak-to-trough decline	-1.47%	-1.84%	+0.37%

Volatility

Volatility by Period

	CBOX	CAIQ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.83%	13.52%	-5.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.83%	13.52%	-5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.83%	13.52%	-5.69%

CBOX vs. CAIQ - Expense Ratio Comparison

CBOX has a 0.14% expense ratio, which is lower than CAIQ's 0.74% expense ratio.

Dividends

CBOX vs. CAIQ - Dividend Comparison

CBOX has not paid dividends to shareholders, while CAIQ's dividend yield for the trailing twelve months is around 10.41%.

Position	TTM	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	10.41%	1.54%
CBOX Calamos Tax-Aware Collateral ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both CBOX and CAIQ in my portfolio?

CBOX and CAIQ have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBOX or CAIQ?

On fees, CBOX is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBOX or CAIQ?

CBOX is cheaper with a 0.14% expense ratio, compared with 0.74% for CAIQ.

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

CAIQ has the higher dividend yield at 10.41%, compared with 0.00% for CBOX.

What is the main difference between CBOX and CAIQ?

CBOX is categorized as Options Trading, while CAIQ is Nasdaq-100. Their fees differ too: 0.14% for CBOX and 0.74% for CAIQ.