XOP vs. CAIQ
XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and CAIQ (Calamos Nasdaq 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 CAIQ is a Nasdaq-100 fund tracking the MerQube Nasdaq-100 Vol Advantage Autocallable Index. Both are passively managed. At a correlation of -0.30, they often move in opposite directions. XOP charges 0.35%/yr vs 0.74%/yr for CAIQ.
Performance
XOP vs. CAIQ - Performance Comparison
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Returns By Period
In the year-to-date period, XOP achieves a 25.93% return, which is significantly higher than CAIQ's 12.96% 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%
CAIQ
- 1D
- 0.83%
- 1M
- 1.36%
- YTD
- 12.96%
- 6M
- 14.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XOP vs. CAIQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 25.93% | -3.56% |
CAIQ Calamos Nasdaq Autocallable Income ETF | 12.96% | 4.03% |
Correlation
The correlation between XOP and CAIQ is -0.30, 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 Nov 20, 2025 | -0.30 |
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Return for Risk
XOP vs. CAIQ — Risk / Return Rank
XOP
CAIQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XOP vs. CAIQ - 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 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.
| XOP | CAIQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.14 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | — | — |
| Martin ratioReturn relative to average drawdown | 3.53 | — | — |
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Drawdowns
XOP vs. CAIQ - Drawdown Comparison
The maximum XOP drawdown since its inception was -90.27%, which is greater than CAIQ's maximum drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for XOP and CAIQ.
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Drawdown Indicators
| XOP | CAIQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.27% | -9.06% | -81.21% |
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 DrawdownCurrent decline from peak | -41.14% | -0.52% | -40.62% |
Average DrawdownAverage peak-to-trough decline | -42.58% | -1.70% | -40.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.28% | — | — |
Volatility
XOP vs. CAIQ - Volatility Comparison
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Volatility by Period
| XOP | CAIQ | 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% | 13.91% | +14.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.01% | 13.91% | +20.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.30% | 13.91% | +26.39% |
XOP vs. CAIQ - Expense Ratio Comparison
XOP has a 0.35% expense ratio, which is lower than CAIQ's 0.74% expense ratio.
Dividends
XOP vs. CAIQ - Dividend Comparison
XOP's dividend yield for the trailing twelve months is around 2.05%, 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% |
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
XOP and CAIQ have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
XOP is cheaper with a 0.35% expense ratio, compared with 0.74% for CAIQ.
CAIQ has the higher dividend yield at 8.50%, compared with 2.05% for XOP.
XOP is categorized as Energy Equities, while CAIQ is Nasdaq-100. XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while CAIQ tracks MerQube Nasdaq-100 Vol Advantage Autocallable Index. They also come from different issuers: State Street and Calamos. Their fees differ too: 0.35% for XOP and 0.74% for CAIQ.
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