JEPQ vs. CAIE

Last updated Jun 16, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and CAIE (Calamos Autocallable Income ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index. Both are passively managed. Their correlation of 0.83 suggests significant overlap in exposure. JEPQ charges 0.35%/yr vs 0.74%/yr for CAIE.

Performance

JEPQ vs. CAIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) 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, JEPQ achieves a 10.23% return, which is significantly higher than CAIE's 8.63% return.

JEPQ

• 1D: 2.21%
• 1M: 3.31%
• YTD: 10.23%
• 6M: 11.56%
• 1Y: 29.39%
• 3Y*: 20.72%
• 5Y*: —
• 10Y*: —

CAIE

• 1D: 1.15%
• 1M: 1.01%
• YTD: 8.63%
• 6M: 9.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPQ vs. CAIE - Yearly Performance Comparison

	2026 (YTD)	2025
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.23%	14.83%
CAIE Calamos Autocallable Income ETF	8.63%	15.12%

Correlation

The correlation between JEPQ and CAIE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.83

JEPQ vs. CAIE - Sectors Allocation Comparison

Sectors	JEPQ	CAIE
Technology	58.9%	-
Communication Services	13.9%	-
Consumer Cyclical	11.8%	-
Consumer Defensive	6.0%	-
Healthcare	3.9%	-
Industrials	2.8%	-
Utilities	1.1%	-
Basic Materials	0.9%	13.2%
Financial Services	0.3%	-
Energy	0.3%	-
Real Estate	0.2%	-

Return for Risk

JEPQ vs. CAIE — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 81
JEPQ Sharpe Ratio Rank: 81
JEPQ Sortino Ratio Rank: 77
JEPQ Omega Ratio Rank: 85
JEPQ Calmar Ratio Rank: 73
JEPQ Martin Ratio Rank: 86

CAIE

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

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.

JEPQ vs. CAIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) 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.

	JEPQ	CAIE	Difference
Sharpe ratio: Return per unit of total volatility	2.31	—	—
Sortino ratio: Return per unit of downside risk	3.06	—	—
Omega ratio: Gain probability vs. loss probability	1.46	—	—
Calmar ratio: Return relative to maximum drawdown	3.35	—	—
Martin ratio: Return relative to average drawdown	15.94	—	—

Drawdowns

JEPQ vs. CAIE - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, which is greater than CAIE's maximum drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for JEPQ and CAIE.

Drawdown Indicators

	JEPQ	CAIE	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-7.73%	-12.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	—	—
Current Drawdown Current decline from peak	0.00%	-0.80%	+0.80%
Average Drawdown Average peak-to-trough decline	-3.41%	-1.08%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	—	—

Volatility

Volatility by Period

	JEPQ	CAIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	12.08%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	12.08%	+4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.76%	12.08%	+4.68%

JEPQ vs. CAIE - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is lower than CAIE's 0.74% expense ratio.

Dividends

JEPQ vs. CAIE - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.00%, less than CAIE's 13.15% yield.

Position	TTM	2025	2024	2023	2022
CAIE Calamos Autocallable Income ETF	13.15%	7.46%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.00%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both JEPQ and CAIE in my portfolio?

JEPQ and CAIE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEPQ or CAIE?

On fees, JEPQ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEPQ or CAIE?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 10.00% for JEPQ.

What is the main difference between JEPQ and CAIE?

JEPQ is categorized as Nasdaq-100, while CAIE is Derivative Income. JEPQ tracks Nasdaq-100 Index, while CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index. They also come from different issuers: JPMorgan and Calamos. Their fees differ too: 0.35% for JEPQ and 0.74% for CAIE.