CVRT vs. CAIE

Last updated Jun 4, 2026

CVRT (Calamos Convertible Equity Alternative ETF) and CAIE (Calamos Autocallable Income ETF) are both exchange-traded funds - CVRT is a Convertible Bonds fund actively managed by Calamos, while CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index. CVRT is actively managed, while CAIE is passively managed. A 0.65 correlation means they provide meaningful diversification when combined. CVRT charges 0.69%/yr vs 0.74%/yr for CAIE.

Performance

CVRT vs. CAIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Convertible Equity Alternative ETF (CVRT) and Calamos Autocallable Income ETF (CAIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVRT achieves a 40.89% return, which is significantly higher than CAIE's 9.06% return.

CVRT

• 1D: -1.21%
• 1M: 8.71%
• YTD: 40.89%
• 6M: 41.79%
• 1Y: 76.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAIE

• 1D: -0.40%
• 1M: 3.61%
• YTD: 9.06%
• 6M: 9.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVRT vs. CAIE - Yearly Performance Comparison

	2026 (YTD)	2025
CVRT Calamos Convertible Equity Alternative ETF	40.89%	23.11%
CAIE Calamos Autocallable Income ETF	9.06%	15.15%

Correlation

The correlation between CVRT and CAIE is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.65

CVRT vs. CAIE - Sectors Allocation Comparison

Sectors	CVRT	CAIE
Technology	43.9%	-
Utilities	14.0%	-
Industrials	8.9%	-
Financial Services	8.2%	-
Healthcare	7.4%	-
Communication Services	3.4%	-
Real Estate	2.7%	-
Energy	2.4%	-
Basic Materials	2.1%	13.4%
Consumer Cyclical	1.4%	-
Consumer Defensive	0.8%	-

Return for Risk

CVRT vs. CAIE — Risk / Return Rank

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

CVRT

CVRT Risk / Return Rank: 93
CVRT Sharpe Ratio Rank: 93
CVRT Sortino Ratio Rank: 91
CVRT Omega Ratio Rank: 90
CVRT Calmar Ratio Rank: 96
CVRT Martin Ratio Rank: 96

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.

CVRT vs. CAIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Equity Alternative ETF (CVRT) 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.

	CVRT	CAIE	Difference
Sharpe ratio: Return per unit of total volatility	3.57	—	—
Sortino ratio: Return per unit of downside risk	4.32	—	—
Omega ratio: Gain probability vs. loss probability	1.59	—	—
Calmar ratio: Return relative to maximum drawdown	8.91	—	—
Martin ratio: Return relative to average drawdown	34.91	—	—
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

	CVRT	CAIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.84	2.31	-0.47

Drawdowns

CVRT vs. CAIE - Drawdown Comparison

The maximum CVRT drawdown since its inception was -20.71%, which is greater than CAIE's maximum drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for CVRT and CAIE.

Drawdown Indicators

	CVRT	CAIE	Difference
Max Drawdown Largest peak-to-trough decline	-20.71%	-7.73%	-12.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.60%	—	—
Current Drawdown Current decline from peak	-1.21%	-0.40%	-0.81%
Average Drawdown Average peak-to-trough decline	-3.06%	-1.06%	-2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	—	—

Volatility

Volatility by Period

	CVRT	CAIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.47%	11.93%	+9.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.96%	11.93%	+8.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	11.93%	+8.03%

CVRT vs. CAIE - Expense Ratio Comparison

CVRT has a 0.69% expense ratio, which is lower than CAIE's 0.74% expense ratio.

Dividends

CVRT vs. CAIE - Dividend Comparison

CVRT's dividend yield for the trailing twelve months is around 1.43%, less than CAIE's 13.09% yield.

Position	TTM	2025	2024	2023
CAIE Calamos Autocallable Income ETF	13.09%	7.46%	0.00%	0.00%
CVRT Calamos Convertible Equity Alternative ETF	1.43%	1.68%	1.49%	0.32%

Frequently Asked Questions

Can I hold both CVRT and CAIE in my portfolio?

CVRT and CAIE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CVRT or CAIE?

On fees, CVRT is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CVRT or CAIE?

CVRT is cheaper with a 0.69% expense ratio, compared with 0.74% for CAIE.

Which ETF pays a higher dividend yield, CVRT or CAIE?

CAIE has the higher dividend yield at 13.09%, compared with 1.43% for CVRT.

What is the main difference between CVRT and CAIE?

CVRT is categorized as Convertible Bonds, while CAIE is Derivative Income. Their fees differ too: 0.69% for CVRT and 0.74% for CAIE.