XV vs. CAIE

Last updated Jul 14, 2026

XV (Simplify Target 15 Distribution ETF) and CAIE (Calamos Autocallable Income ETF) are both Derivative Income funds. XV is actively managed, while CAIE is passively managed. Over the past year, XV returned 11.44% vs 19.94% for CAIE. A 0.66 correlation means they provide meaningful diversification when combined. XV charges 0.75%/yr vs 0.74%/yr for CAIE.

Performance

XV vs. CAIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Target 15 Distribution ETF (XV) 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, XV achieves a 4.88% return, which is significantly lower than CAIE's 8.26% return.

XV

• 1D: 0.04%
• 1M: 1.52%
• 6M: 3.66%
• YTD: 4.88%
• 1Y: 11.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAIE

• 1D: -0.70%
• 1M: 0.81%
• 6M: 6.47%
• YTD: 8.26%
• 1Y: 19.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XV vs. CAIE - Yearly Performance Comparison

	2026 (YTD)	2025
XV Simplify Target 15 Distribution ETF	4.88%	7.62%
CAIE Calamos Autocallable Income ETF	8.26%	15.12%

Correlation

The correlation between XV and CAIE is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.66

The correlation between XV and CAIE has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.

Return for Risk

XV vs. CAIE — Risk / Return Rank

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

XV

XV Risk / Return Rank: 49
XV Sharpe Ratio Rank: 46
XV Sortino Ratio Rank: 47
XV Omega Ratio Rank: 44
XV Calmar Ratio Rank: 50
XV Martin Ratio Rank: 56

CAIE

CAIE Risk / Return Rank: 66
CAIE Sharpe Ratio Rank: 65
CAIE Sortino Ratio Rank: 63
CAIE Omega Ratio Rank: 64
CAIE Calmar Ratio Rank: 65
CAIE Martin Ratio Rank: 75

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.

XV vs. CAIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) 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.

	XV	CAIE	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.69	-0.40
Sortino ratio: Return per unit of downside risk	1.88	2.35	-0.46
Omega ratio: Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio: Return relative to maximum drawdown	2.00	2.59	-0.59
Martin ratio: Return relative to average drawdown	7.79	11.07	-3.28

XV vs. CAIE - Sharpe Ratio Comparison

The current XV Sharpe Ratio is 1.29, which is comparable to the CAIE Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of XV and CAIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XV vs. CAIE - Drawdown Comparison

The maximum XV drawdown since its inception was -5.73%, smaller than the maximum CAIE drawdown of -7.73%. Use the drawdown chart below to compare losses from any high point for XV and CAIE.

Drawdown Indicators

	XV	CAIE	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-7.73%	+2.00%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-7.73%	+2.00%
Current Drawdown Current decline from peak	-0.56%	-1.13%	+0.57%
Average Drawdown Average peak-to-trough decline	-0.95%	-1.10%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.81%	-0.34%

Volatility

XV vs. CAIE - Volatility Comparison

Simplify Target 15 Distribution ETF (XV) has a higher volatility of 3.11% compared to Calamos Autocallable Income ETF (CAIE) at 2.66%. This indicates that XV's price experiences larger fluctuations and is considered to be riskier than CAIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XV	CAIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.66%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	6.65%	8.34%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	8.93%	11.89%	-2.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.87%	11.84%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.87%	11.84%	-0.97%

XV vs. CAIE - Expense Ratio Comparison

XV has a 0.75% expense ratio, which is higher than CAIE's 0.74% expense ratio.

Dividends

XV vs. CAIE - Dividend Comparison

XV's dividend yield for the trailing twelve months is around 19.02%, more than CAIE's 14.53% yield.

Position	TTM	2025
CAIE Calamos Autocallable Income ETF	14.53%	7.46%
XV Simplify Target 15 Distribution ETF	19.02%	13.87%

Frequently Asked Questions

Can I hold both XV and CAIE in my portfolio?

XV and CAIE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XV or CAIE?

XV has higher volatility (3.11%) compared to CAIE (2.66%). In terms of maximum drawdown, XV dropped -5.73% vs CAIE's -7.73%.

Which ETF is better, XV or CAIE?

On 1-year performance, CAIE leads with 19.94% vs 11.44% for XV. On fees, CAIE is cheaper at 0.74% per year. On volatility, CAIE has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XV or CAIE?

Over the 1-year period, CAIE has performed better with a 19.94% return vs 11.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XV or CAIE?

CAIE is cheaper with a 0.74% expense ratio, compared with 0.75% for XV.

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

XV has the higher dividend yield at 19.02%, compared with 14.53% for CAIE.

What is the main difference between XV and CAIE?

They also come from different issuers: Simplify and Calamos. Their fees differ too: 0.75% for XV and 0.74% for CAIE.

Which has better risk-adjusted returns?

CAIE currently has the higher Sharpe Ratio (1.69 vs 1.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.