SGOV vs. CAIQ

Last updated Jun 16, 2026

SGOV (iShares 0-3 Month Treasury Bond ETF) and CAIQ (Calamos Nasdaq 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 CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index. Both are passively managed. At a correlation of -0.10, they often move in opposite directions. SGOV charges 0.09%/yr vs 0.74%/yr for CAIQ.

Performance

SGOV vs. CAIQ - 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 Nasdaq Autocallable Income ETF (CAIQ). 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 CAIQ's 12.96% return.

SGOV

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.63%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: 4.69%
• 5Y*: 3.56%
• 10Y*: —

CAIQ

• 1D: 0.83%
• 1M: 1.36%
• YTD: 12.96%
• 6M: 14.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGOV vs. CAIQ - Yearly Performance Comparison

	2026 (YTD)	2025
SGOV iShares 0-3 Month Treasury Bond ETF	1.63%	0.45%
CAIQ Calamos Nasdaq Autocallable Income ETF	12.96%	4.03%

Correlation

The correlation between SGOV and CAIQ is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	-0.10

Return for Risk

SGOV vs. CAIQ — 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

CAIQ

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. CAIQ - 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 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.

	SGOV	CAIQ	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. CAIQ - Drawdown Comparison

The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum CAIQ drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for SGOV and CAIQ.

Drawdown Indicators

	SGOV	CAIQ	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-9.06%	+9.03%
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%	-0.52%	+0.52%
Average Drawdown Average peak-to-trough decline	-0.00%	-1.70%	+1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	SGOV	CAIQ	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%	13.91%	-13.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.24%	13.91%	-13.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	13.91%	-13.67%

SGOV vs. CAIQ - Expense Ratio Comparison

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

Dividends

SGOV vs. CAIQ - Dividend Comparison

SGOV's dividend yield for the trailing twelve months is around 3.85%, less than CAIQ's 8.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CAIQ Calamos Nasdaq Autocallable Income ETF	8.50%	1.54%	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 CAIQ in my portfolio?

SGOV and CAIQ have a correlation of -0.10, 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 CAIQ?

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 CAIQ?

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

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

CAIQ has the higher dividend yield at 8.50%, compared with 3.85% for SGOV.

What is the main difference between SGOV and CAIQ?

SGOV is categorized as Ultrashort Bond, while CAIQ is Nasdaq-100. SGOV tracks ICE 0-3 Month US Treasury Securities Index, while CAIQ tracks MerQube Nasdaq-100 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 CAIQ.