XLK vs. CAIQ
XLK (State Street Technology Select Sector SPDR ETF) and CAIQ (Calamos Nasdaq Autocallable Income ETF) are both exchange-traded funds - XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index, while CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index. Both are passively managed. Their correlation of 0.85 suggests significant overlap in exposure. XLK charges 0.08%/yr vs 0.74%/yr for CAIQ.
Performance
XLK vs. CAIQ - Performance Comparison
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Returns By Period
In the year-to-date period, XLK achieves a 33.38% return, which is significantly higher than CAIQ's 12.96% return.
XLK
- 1D
- 3.78%
- 1M
- 8.81%
- YTD
- 33.38%
- 6M
- 35.15%
- 1Y
- 61.29%
- 3Y*
- 31.25%
- 5Y*
- 22.96%
- 10Y*
- 25.75%
CAIQ
- 1D
- 0.83%
- 1M
- 1.36%
- YTD
- 12.96%
- 6M
- 14.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XLK vs. CAIQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XLK State Street Technology Select Sector SPDR ETF | 33.38% | 2.64% |
CAIQ Calamos Nasdaq Autocallable Income ETF | 12.96% | 4.03% |
Correlation
The correlation between XLK and CAIQ 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 Nov 20, 2025 | 0.85 |
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Return for Risk
XLK vs. CAIQ — Risk / Return Rank
XLK
CAIQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XLK vs. CAIQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) 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.
| XLK | CAIQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.44 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | — | — |
| Martin ratioReturn relative to average drawdown | 12.48 | — | — |
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Drawdowns
XLK vs. CAIQ - Drawdown Comparison
The maximum XLK drawdown since its inception was -82.05%, which is greater than CAIQ's maximum drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for XLK and CAIQ.
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Drawdown Indicators
| XLK | CAIQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.05% | -9.06% | -72.99% |
Max Drawdown (1Y)Largest decline over 1 year | -15.92% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -25.66% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.56% | — | — |
Current DrawdownCurrent decline from peak | -3.24% | -0.52% | -2.72% |
Average DrawdownAverage peak-to-trough decline | -34.92% | -1.70% | -33.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.92% | — | — |
Volatility
XLK vs. CAIQ - Volatility Comparison
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Volatility by Period
| XLK | CAIQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.35% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 19.24% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 22.81% | 13.91% | +8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.24% | 13.91% | +11.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.68% | 13.91% | +10.77% |
XLK vs. CAIQ - Expense Ratio Comparison
XLK has a 0.08% expense ratio, which is lower than CAIQ's 0.74% expense ratio.
Dividends
XLK vs. CAIQ - Dividend Comparison
XLK's dividend yield for the trailing twelve months is around 0.40%, less than CAIQ's 8.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAIQ Calamos Nasdaq Autocallable Income ETF | 8.50% | 1.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLK State Street Technology Select Sector SPDR ETF | 0.40% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Frequently Asked Questions
XLK and CAIQ 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, XLK is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLK is cheaper with a 0.08% expense ratio, compared with 0.74% for CAIQ.
CAIQ has the higher dividend yield at 8.50%, compared with 0.40% for XLK.
XLK is categorized as Technology Equities, while CAIQ is Nasdaq-100. XLK tracks S&P Technology Select Sector Daily Capped 35/20 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: 0.08% for XLK and 0.74% for CAIQ.
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