SGOV vs. CAIE

Last updated Jun 16, 2026

SGOV (iShares 0-3 Month Treasury Bond ETF) and CAIE (Calamos Autocallable Income ETF) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while CAIE is a Derivative Income fund tracking the MerQube US Large Cap Vol Advantage Autocallable Index. Both are passively managed. At a correlation of -0.14, they often move in opposite directions. SGOV charges 0.09%/yr vs 0.74%/yr for CAIE.

Performance

SGOV vs. CAIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-3 Month Treasury Bond ETF (SGOV) 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, SGOV achieves a 1.63% return, which is significantly lower than CAIE's 8.63% return.

SGOV

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.63%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: 4.69%
• 5Y*: 3.56%
• 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)

SGOV vs. CAIE - Yearly Performance Comparison

	2026 (YTD)	2025
SGOV iShares 0-3 Month Treasury Bond ETF	1.63%	2.16%
CAIE Calamos Autocallable Income ETF	8.63%	15.12%

Correlation

The correlation between SGOV and CAIE is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	-0.14

Return for Risk

SGOV vs. CAIE — Risk / Return Rank

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

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

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.

SGOV vs. CAIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) 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.

	SGOV	CAIE	Difference
Sharpe ratio: Return per unit of total volatility	20.33	—	—
Sortino ratio: Return per unit of downside risk	274.27	—	—
Omega ratio: Gain probability vs. loss probability	194.55	—	—
Calmar ratio: Return relative to maximum drawdown	396.11	—	—
Martin ratio: Return relative to average drawdown	4,438.60	—	—

Drawdowns

SGOV vs. CAIE - Drawdown Comparison

The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum CAIE drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for SGOV and CAIE.

Drawdown Indicators

	SGOV	CAIE	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-7.73%	+7.70%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.03%	—	—
Current Drawdown Current decline from peak	0.00%	-0.80%	+0.80%
Average Drawdown Average peak-to-trough decline	-0.00%	-1.08%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	SGOV	CAIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.19%	12.08%	-11.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.24%	12.08%	-11.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	12.08%	-11.84%

SGOV vs. CAIE - Expense Ratio Comparison

SGOV has a 0.09% expense ratio, which is lower than CAIE's 0.74% expense ratio.

Dividends

SGOV vs. CAIE - Dividend Comparison

SGOV's dividend yield for the trailing twelve months is around 3.85%, less than CAIE's 13.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CAIE Calamos Autocallable Income ETF	13.15%	7.46%	0.00%	0.00%	0.00%	0.00%	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	3.85%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%

Frequently Asked Questions

Can I hold both SGOV and CAIE in my portfolio?

SGOV and CAIE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SGOV or CAIE?

On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SGOV or CAIE?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 3.85% for SGOV.

What is the main difference between SGOV and CAIE?

SGOV is categorized as Ultrashort Bond, while CAIE is Derivative Income. SGOV tracks ICE 0-3 Month US Treasury Securities Index, while CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index. They also come from different issuers: iShares and Calamos. Their fees differ too: 0.09% for SGOV and 0.74% for CAIE.