CGBD vs. CAIE
CGBD (TCG BDC, Inc.) is a stock, while CAIE (Calamos Autocallable Income ETF) is Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Total Return Index. Over the past year, CGBD returned -14.53% vs 21.27% for CAIE. Their 0.27 correlation means their historical movements had little consistent relationship.
Performance
CGBD vs. CAIE - Performance Comparison
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Returns By Period
In the year-to-date period, CGBD achieves a -12.00% return, which is significantly lower than CAIE's 9.46% return.
CGBD
- 1D
- 2.70%
- 1M
- -5.79%
- 6M
- -9.01%
- YTD
- -12.00%
- 1Y
- -14.53%
- 3Y*
- -1.90%
- 5Y*
- 6.39%
- 10Y*
- —
- ALL TIME*
- 6.45%
CAIE
- 1D
- 1.40%
- 1M
- 1.18%
- 6M
- 7.74%
- YTD
- 9.46%
- 1Y
- 21.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.47M | $16.13M | $13.34M | |
CGBD TCG BDC, Inc. | $5.87M | $6.31M | $6.07M |
CGBD vs. CAIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CGBD TCG BDC, Inc. | -12.00% | -1.58% |
CAIE Calamos Autocallable Income ETF | 9.46% | 15.12% |
Correlation
The correlation between CGBD and CAIE is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | 0.27 |
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Return for Risk
CGBD vs. CAIE — Risk / Return Rank
CGBD
CAIE
CGBD vs. CAIE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCG BDC, Inc. (CGBD) and Calamos Autocallable Income ETF (CAIE). 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.
| CGBD | CAIE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -3.32 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.32 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 2.77 | -3.55 |
| Martin ratioReturn relative to average drawdown | -1.38 | 11.66 | -13.04 |
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Drawdowns
CGBD vs. CAIE - Drawdown Comparison
The maximum CGBD drawdown since its inception was -71.09%, which is greater than CAIE's maximum drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for CGBD and CAIE.
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Drawdown Indicators
| CGBD | CAIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.09% | -7.73% | -63.36% |
Max Drawdown (1Y)Largest decline over 1 year | -18.52% | -7.73% | -10.79% |
Max Drawdown (3Y)Largest decline over 3 years | -35.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.06% | — | — |
Current DrawdownCurrent decline from peak | -33.29% | -0.04% | -33.25% |
Average DrawdownAverage peak-to-trough decline | -12.81% | -1.13% | -11.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.56% | 1.83% | +8.73% |
Volatility
CGBD vs. CAIE - Volatility Comparison
TCG BDC, Inc. (CGBD) has a higher volatility of 7.33% compared to Calamos Autocallable Income ETF (CAIE) at 3.40%. This indicates that CGBD's price experiences larger fluctuations and is considered to be riskier than CAIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGBD | CAIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.33% | 3.40% | +3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 18.60% | 8.49% | +10.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.21% | 11.90% | +11.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.86% | 11.88% | +9.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.58% | 11.88% | +22.70% |
Dividends
CGBD vs. CAIE - Dividend Comparison
CGBD's dividend yield for the trailing twelve months is around 15.11%, more than CAIE's 14.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CAIE Calamos Autocallable Income ETF | 14.26% | 7.46% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CGBD TCG BDC, Inc. | 15.11% | 13.21% | 10.43% | 11.76% | 11.46% | 10.92% | 14.33% | 13.00% | 13.55% | 6.09% |
Frequently Asked Questions
CGBD and CAIE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CGBD has higher volatility (7.33%) compared to CAIE (3.40%). In terms of maximum drawdown, CGBD dropped -71.09% vs CAIE's -7.73%.
CAIE currently has the higher Sharpe Ratio (1.80 vs -0.63), 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.
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