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QQQ vs. CAIE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. CAIE

Last updated Jun 16, 2026

QQQ (Invesco QQQ ETF) and CAIE (Calamos Autocallable Income ETF) are both exchange-traded funds - QQQ 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 0.85 suggests significant overlap in exposure. QQQ charges 0.18%/yr vs 0.74%/yr for CAIE.

Performance

QQQ vs. CAIE - Performance Comparison

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

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Returns By Period

In the year-to-date period, QQQ achieves a 21.26% return, which is significantly higher than CAIE's 8.63% return.

QQQ

1D
3.14%
1M
4.95%
YTD
21.26%
6M
22.17%
1Y
41.87%
3Y*
27.20%
5Y*
17.59%
10Y*
22.31%

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)

QQQ vs. CAIE - Yearly Performance Comparison

2026 (YTD)2025
QQQ
Invesco QQQ ETF		21.26%14.09%
CAIE
Calamos Autocallable Income ETF		8.63%15.12%

Correlation

The correlation between QQQ and CAIE is 0.85, 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

0.85

QQQ vs. CAIE - Sectors Allocation Comparison

Sectors
QQQ
CAIE

Technology

58.7%

-

Communication Services

14.3%

-

Consumer Cyclical

11.4%

-

Consumer Defensive

6.4%

-

Healthcare

3.7%

-

Industrials

2.6%

-

Utilities

1.2%

-

Basic Materials

1.0%
13.2%

Energy

0.5%

-

Financial Services

0.2%

-

Real Estate

0.1%

-

Technology

QQQ
58.7%
CAIE

-

Communication Services

QQQ
14.3%
CAIE

-

Consumer Cyclical

QQQ
11.4%
CAIE

-

Consumer Defensive

QQQ
6.4%
CAIE

-

Healthcare

QQQ
3.7%
CAIE

-

Industrials

QQQ
2.6%
CAIE

-

Utilities

QQQ
1.2%
CAIE

-

Basic Materials

QQQ
1.0%
CAIE
13.2%

Energy

QQQ
0.5%
CAIE

-

Financial Services

QQQ
0.2%
CAIE

-

Real Estate

QQQ
0.1%
CAIE

-

Compare stocks, funds, or ETFs

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Invesco QQQ ETF

Calamos Autocallable Income ETF

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI
Often compared with CAIE:
CAIE vs. CMPCAIE vs. SPYCAIE vs. CAIQCAIE vs. SBARCAIE vs. SPYICAIE vs. XVCAIE vs. GPIQ

Return for Risk

QQQ vs. CAIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 7979
Overall Rank
QQQ Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7979
Sortino Ratio Rank
QQQ Omega Ratio Rank: 8181
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7676
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7676
Martin Ratio Rank
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.

QQQ vs. CAIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) 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.

QQQCAIEDifference
Sharpe ratioReturn per unit of total volatility
2.42

—

—

Sortino ratioReturn per unit of downside risk
3.12

—

—

Omega ratioGain probability vs. loss probability

1.42

—

—

Calmar ratioReturn relative to maximum drawdown

3.52

—

—

Martin ratioReturn relative to average drawdown

13.12

—

—

QQQ vs. CAIE - Sharpe Ratio Comparison

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Drawdowns

QQQ vs. CAIE - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than CAIE's maximum drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for QQQ and CAIE.

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Drawdown Indicators

QQQCAIEDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-7.73%

-75.24%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

—

—

Current Drawdown

Current decline from peak

-0.29%

-0.80%

+0.51%

Average Drawdown

Average peak-to-trough decline

-32.75%

-1.08%

-31.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

—

—

Volatility

QQQ vs. CAIE - Volatility Comparison

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Volatility by Period

QQQCAIEDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.14%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

14.12%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

17.43%

12.08%

+5.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.59%

12.08%

+10.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.41%

12.08%

+10.33%

QQQ vs. CAIE - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than CAIE's 0.74% expense ratio.

Dividends

QQQ vs. CAIE - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.38%, less than CAIE's 13.15% yield.

PositionTTM20252024202320222021202020192018201720162015
CAIE
Calamos Autocallable Income ETF		13.15%7.46%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QQQ
Invesco QQQ ETF		0.38%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

QQQ and CAIE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.74% for CAIE.

CAIE has the higher dividend yield at 13.15%, compared with 0.38% for QQQ.

QQQ is categorized as Nasdaq-100, while CAIE is Derivative Income. QQQ tracks NASDAQ-100 Index, while CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index. They also come from different issuers: Invesco and Calamos. Their fees differ too: 0.18% for QQQ and 0.74% for CAIE.

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