WEEL vs. CAIE

Last updated Jun 4, 2026

WEEL (Peerless Option Income Wheel ETF) and CAIE (Calamos Autocallable Income ETF) are both Derivative Income funds. WEEL is actively managed, while CAIE is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. WEEL charges 0.99%/yr vs 0.74%/yr for CAIE.

Performance

WEEL vs. CAIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Peerless Option Income Wheel ETF (WEEL) 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, WEEL achieves a 5.22% return, which is significantly lower than CAIE's 9.06% return.

WEEL

• 1D: -0.40%
• 1M: 0.96%
• YTD: 5.22%
• 6M: 5.75%
• 1Y: 20.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAIE

• 1D: -0.40%
• 1M: 3.61%
• YTD: 9.06%
• 6M: 9.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WEEL vs. CAIE - Yearly Performance Comparison

	2026 (YTD)	2025
WEEL Peerless Option Income Wheel ETF	5.22%	11.28%
CAIE Calamos Autocallable Income ETF	9.06%	15.15%

Correlation

The correlation between WEEL and CAIE is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.64

WEEL vs. CAIE - Sectors Allocation Comparison

Sectors	WEEL	CAIE
Consumer Cyclical	20.3%	-
Healthcare	16.8%	-
Basic Materials	16.7%	13.4%
Technology	15.5%	-
Communication Services	13.8%	-
Energy	5.6%	-
Financial Services	4.0%	-
Industrials	3.7%	-
Consumer Defensive	2.2%	-
Real Estate	1.1%	-
Utilities	0.2%	-

Return for Risk

WEEL vs. CAIE — Risk / Return Rank

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

WEEL

WEEL Risk / Return Rank: 84
WEEL Sharpe Ratio Rank: 78
WEEL Sortino Ratio Rank: 86
WEEL Omega Ratio Rank: 85
WEEL Calmar Ratio Rank: 82
WEEL Martin Ratio Rank: 91

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.

WEEL vs. CAIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Peerless Option Income Wheel ETF (WEEL) 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.

	WEEL	CAIE	Difference
Sharpe ratio Return per unit of total volatility	2.54	—	—
Sortino ratio Return per unit of downside risk	3.93	—	—
Omega ratio Gain probability vs. loss probability	1.52	—	—
Calmar ratio Return relative to maximum drawdown	4.40	—	—
Martin ratio Return relative to average drawdown	21.37	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	WEEL	CAIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	2.31	-1.31

Drawdowns

WEEL vs. CAIE - Drawdown Comparison

The maximum WEEL drawdown since its inception was -17.45%, which is greater than CAIE's maximum drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for WEEL and CAIE.

Drawdown Indicators

	WEEL	CAIE	Difference
Max Drawdown Largest peak-to-trough decline	-17.45%	-7.73%	-9.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.60%	—	—
Current Drawdown Current decline from peak	-0.40%	-0.40%	0.00%
Average Drawdown Average peak-to-trough decline	-1.45%	-1.06%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	—	—

Volatility

Volatility by Period

	WEEL	CAIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	11.93%	-3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	11.93%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.84%	11.93%	+0.91%

WEEL vs. CAIE - Expense Ratio Comparison

WEEL has a 0.99% expense ratio, which is higher than CAIE's 0.74% expense ratio.

Dividends

WEEL vs. CAIE - Dividend Comparison

WEEL's dividend yield for the trailing twelve months is around 12.46%, less than CAIE's 13.09% yield.

Position	TTM	2025	2024
CAIE Calamos Autocallable Income ETF	13.09%	7.46%	0.00%
WEEL Peerless Option Income Wheel ETF	12.46%	12.72%	6.88%

Frequently Asked Questions

Can I hold both WEEL and CAIE in my portfolio?

WEEL and CAIE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WEEL or CAIE?

On fees, CAIE is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WEEL or CAIE?

CAIE is cheaper with a 0.74% expense ratio, compared with 0.99% for WEEL.

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

CAIE has the higher dividend yield at 13.09%, compared with 12.46% for WEEL.

What is the main difference between WEEL and CAIE?

They also come from different issuers: Peerless ETFs and Calamos. Their fees differ too: 0.99% for WEEL and 0.74% for CAIE.