QNDX vs. CAIQ

Last updated Jul 17, 2026

QNDX (SPDR Portfolio Nasdaq 100 ETF) and CAIQ (Calamos Nasdaq Autocallable Income ETF) are both Nasdaq-100 funds - QNDX tracks the Nasdaq-100 Index while CAIQ tracks the MerQube Nasdaq-100 Vol Advantage Autocallable Index. Both are passively managed. Their correlation of 0.82 suggests significant overlap in exposure. QNDX charges 0.10%/yr vs 0.74%/yr for CAIQ.

Performance

QNDX vs. CAIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Nasdaq 100 ETF (QNDX) and Calamos Nasdaq Autocallable Income ETF (CAIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QNDX

• 1D: -1.56%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAIQ

• 1D: -0.88%
• 1M: -1.64%
• 6M: 9.78%
• YTD: 10.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QNDX vs. CAIQ - Yearly Performance Comparison

	2026 (YTD)
QNDX SPDR Portfolio Nasdaq 100 ETF	-1.16%
CAIQ Calamos Nasdaq Autocallable Income ETF	-1.16%

Correlation

The correlation between QNDX and CAIQ is 0.82, 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 24, 2026	0.82

Return for Risk

QNDX vs. CAIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Nasdaq 100 ETF (QNDX) 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

QNDX vs. CAIQ - Drawdown Comparison

The maximum QNDX drawdown since its inception was -4.09%, smaller than the maximum CAIQ drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for QNDX and CAIQ.

Drawdown Indicators

	QNDX	CAIQ	Difference
Max Drawdown Largest peak-to-trough decline	-4.09%	-9.06%	+4.97%
Current Drawdown Current decline from peak	-4.09%	-2.63%	-1.46%
Average Drawdown Average peak-to-trough decline	-1.91%	-1.67%	-0.24%

Volatility

Volatility by Period

	QNDX	CAIQ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	22.37%	13.43%	+8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.37%	13.43%	+8.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.37%	13.43%	+8.94%

QNDX vs. CAIQ - Expense Ratio Comparison

QNDX has a 0.10% expense ratio, which is lower than CAIQ's 0.74% expense ratio.

Dividends

QNDX vs. CAIQ - Dividend Comparison

QNDX has not paid dividends to shareholders, while CAIQ's dividend yield for the trailing twelve months is around 10.27%.

Position	TTM	2025
CAIQ Calamos Nasdaq Autocallable Income ETF	10.27%	1.54%
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both QNDX and CAIQ in my portfolio?

QNDX and CAIQ have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QNDX or CAIQ?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QNDX or CAIQ?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.74% for CAIQ.

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

CAIQ has the higher dividend yield at 10.27%, compared with 0.00% for QNDX.

What is the main difference between QNDX and CAIQ?

QNDX tracks Nasdaq-100 Index, while CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index. They also come from different issuers: State Street and Calamos. Their fees differ too: 0.10% for QNDX and 0.74% for CAIQ.