CCEF vs. XOMO

Last updated Aug 2, 2026

CCEF (Calamos CEF Income & Arbitrage ETF) and XOMO (YieldMax XOM Option Income Strategy ETF) are both exchange-traded funds - CCEF is a Dividend fund actively managed by Calamos, while XOMO is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, CCEF returned 12.87% vs 29.93% for XOMO. Their 0.12 correlation means their historical movements had little consistent relationship. CCEF charges 2.74%/yr vs 1.01%/yr for XOMO.

Performance

CCEF vs. XOMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos CEF Income & Arbitrage ETF (CCEF) and YieldMax XOM Option Income Strategy ETF (XOMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCEF achieves a 6.53% return, which is significantly lower than XOMO's 20.26% return.

CCEF

• 1D: 0.34%
• 1M: -0.32%
• 6M: 3.30%
• YTD: 6.53%
• 1Y: 12.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.94%

XOMO

• 1D: -1.31%
• 1M: 10.95%
• 6M: 6.18%
• YTD: 20.26%
• 1Y: 29.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.86%

*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)
CCEF Calamos CEF Income & Arbitrage ETF	$74.18K	$103.33K	$101.25K
XOMO YieldMax XOM Option Income Strategy ETF	$613.93K	$674.71K	$709.58K

CCEF vs. XOMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CCEF Calamos CEF Income & Arbitrage ETF	6.53%	13.47%	17.80%
XOMO YieldMax XOM Option Income Strategy ETF	20.26%	6.90%	5.65%

Correlation

The correlation between CCEF and XOMO is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.13
Correlation (All Time) Calculated using the full available price history since Jan 16, 2024	0.12

The correlation between CCEF and XOMO shifts across timeframes, from -0.13 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CCEF vs. XOMO — Risk / Return Rank

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

CCEF

CCEF Risk / Return Rank: 57
CCEF Sharpe Ratio Rank: 63
CCEF Sortino Ratio Rank: 61
CCEF Omega Ratio Rank: 63
CCEF Calmar Ratio Rank: 44
CCEF Martin Ratio Rank: 57

XOMO

XOMO Risk / Return Rank: 51
XOMO Sharpe Ratio Rank: 58
XOMO Sortino Ratio Rank: 53
XOMO Omega Ratio Rank: 56
XOMO Calmar Ratio Rank: 46
XOMO Martin Ratio Rank: 40

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.

CCEF vs. XOMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and YieldMax XOM Option Income Strategy ETF (XOMO). 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.

	CCEF	XOMO	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.37	+0.08
Sortino ratio: Return per unit of downside risk	2.04	1.87	+0.17
Omega ratio: Gain probability vs. loss probability	1.27	1.25	+0.02
Calmar ratio: Return relative to maximum drawdown	1.58	1.64	-0.07
Martin ratio: Return relative to average drawdown	6.74	4.12	+2.62

CCEF vs. XOMO - Sharpe Ratio Comparison

The current CCEF Sharpe Ratio is 1.45, which is comparable to the XOMO Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of CCEF and XOMO, 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

CCEF vs. XOMO - Drawdown Comparison

The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum XOMO drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for CCEF and XOMO.

Drawdown Indicators

	CCEF	XOMO	Difference
Max Drawdown Largest peak-to-trough decline	-13.25%	-18.90%	+5.65%
Max Drawdown (1Y) Largest decline over 1 year	-7.75%	-17.25%	+9.50%
Current Drawdown Current decline from peak	-0.86%	-7.57%	+6.71%
Average Drawdown Average peak-to-trough decline	-1.32%	-7.50%	+6.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	6.90%	-5.09%

Volatility

CCEF vs. XOMO - Volatility Comparison

The current volatility for Calamos CEF Income & Arbitrage ETF (CCEF) is 2.06%, while YieldMax XOM Option Income Strategy ETF (XOMO) has a volatility of 6.19%. This indicates that CCEF experiences smaller price fluctuations and is considered to be less risky than XOMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCEF	XOMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	6.19%	-4.13%
Volatility (6M) Calculated over the trailing 6-month period	7.14%	17.25%	-10.11%
Volatility (1Y) Calculated over the trailing 1-year period	8.41%	20.68%	-12.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.66%	19.20%	-8.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.66%	19.20%	-8.54%

CCEF vs. XOMO - Expense Ratio Comparison

CCEF has a 2.74% expense ratio, which is higher than XOMO's 1.01% expense ratio.

Dividends

CCEF vs. XOMO - Dividend Comparison

CCEF's dividend yield for the trailing twelve months is around 8.01%, less than XOMO's 37.04% yield.

Position	TTM	2025	2024	2023
CCEF Calamos CEF Income & Arbitrage ETF	7.36%	8.08%	6.55%	0.00%
XOMO YieldMax XOM Option Income Strategy ETF	37.04%	31.64%	26.94%	5.13%

Frequently Asked Questions

Can I hold both CCEF and XOMO in my portfolio?

CCEF and XOMO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CCEF or XOMO?

XOMO has higher volatility (6.19%) compared to CCEF (2.06%). In terms of maximum drawdown, CCEF dropped -13.25% vs XOMO's -18.90%.

Which ETF is better, CCEF or XOMO?

On 1-year performance, XOMO leads with 29.93% vs 12.87% for CCEF. On fees, XOMO is cheaper at 1.01% per year. On volatility, CCEF has been the lower-risk option at 2.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CCEF or XOMO?

Over the 1-year period, XOMO has performed better with a 29.93% return vs 12.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CCEF or XOMO?

XOMO is cheaper with a 1.01% expense ratio, compared with 2.74% for CCEF.

Which ETF pays a higher dividend yield, CCEF or XOMO?

XOMO has the higher dividend yield at 37.04%, compared with 7.36% for CCEF.

What is the main difference between CCEF and XOMO?

CCEF is categorized as Dividend, while XOMO is Derivative Income. They also come from different issuers: Calamos and YieldMax. Their fees differ too: 2.74% for CCEF and 1.01% for XOMO.

Which has better risk-adjusted returns?

CCEF currently has the higher Sharpe Ratio (1.45 vs 1.37), 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.