XOP vs. CAIE

Last updated Jun 16, 2026

XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and CAIE (Calamos Autocallable Income ETF) are both exchange-traded funds - XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry, 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 -0.08, they often move in opposite directions. XOP charges 0.35%/yr vs 0.74%/yr for CAIE.

Performance

XOP vs. CAIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 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, XOP achieves a 25.93% return, which is significantly higher than CAIE's 8.63% return.

XOP

• 1D: -4.22%
• 1M: -9.06%
• YTD: 25.93%
• 6M: 23.31%
• 1Y: 22.12%
• 3Y*: 10.05%
• 5Y*: 12.85%
• 10Y*: 3.15%

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)

XOP vs. CAIE - Yearly Performance Comparison

	2026 (YTD)	2025
XOP SPDR S&P Oil & Gas Exploration & Production ETF	25.93%	0.01%
CAIE Calamos Autocallable Income ETF	8.63%	15.12%

Correlation

The correlation between XOP and CAIE is -0.08, 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 Jun 25, 2025	-0.08

XOP vs. CAIE - Sectors Allocation Comparison

Sectors	XOP	CAIE
Energy	96.8%	-
Basic Materials	3.2%	13.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XOP vs. CAIE — Risk / Return Rank

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

XOP

XOP Risk / Return Rank: 26
XOP Sharpe Ratio Rank: 24
XOP Sortino Ratio Rank: 23
XOP Omega Ratio Rank: 23
XOP Calmar Ratio Rank: 31
XOP Martin Ratio Rank: 28

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.

XOP vs. CAIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 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.

	XOP	CAIE	Difference
Sharpe ratio: Return per unit of total volatility	0.79	—	—
Sortino ratio: Return per unit of downside risk	1.18	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	1.40	—	—
Martin ratio: Return relative to average drawdown	3.53	—	—

Drawdowns

XOP vs. CAIE - Drawdown Comparison

The maximum XOP drawdown since its inception was -90.27%, which is greater than CAIE's maximum drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for XOP and CAIE.

Drawdown Indicators

	XOP	CAIE	Difference
Max Drawdown Largest peak-to-trough decline	-90.27%	-7.73%	-82.54%
Max Drawdown (1Y) Largest decline over 1 year	-15.85%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-34.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-82.61%	—	—
Current Drawdown Current decline from peak	-41.14%	-0.80%	-40.34%
Average Drawdown Average peak-to-trough decline	-42.58%	-1.08%	-41.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.28%	—	—

Volatility

Volatility by Period

	XOP	CAIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.29%	12.08%	+16.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.01%	12.08%	+21.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.30%	12.08%	+28.22%

XOP vs. CAIE - Expense Ratio Comparison

XOP has a 0.35% expense ratio, which is lower than CAIE's 0.74% expense ratio.

Dividends

XOP vs. CAIE - Dividend Comparison

XOP's dividend yield for the trailing twelve months is around 2.05%, less than CAIE's 13.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	2.05%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both XOP and CAIE in my portfolio?

XOP and CAIE have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XOP or CAIE?

On fees, XOP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XOP or CAIE?

XOP is cheaper with a 0.35% expense ratio, compared with 0.74% for CAIE.

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

CAIE has the higher dividend yield at 13.15%, compared with 2.05% for XOP.

What is the main difference between XOP and CAIE?

XOP is categorized as Energy Equities, while CAIE is Derivative Income. XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while CAIE tracks MerQube US Large Cap Vol Advantage Autocallable Index. They also come from different issuers: State Street and Calamos. Their fees differ too: 0.35% for XOP and 0.74% for CAIE.