Launch Roundup
First Trust listed six income ETFs at 0.85%, and the new fund flagged its own conflict
Calamos Nasdaq Autocallable Income ETF
$25.88−0.09 (−0.34%)
- 0.74%
- $392M
- 0.2M sh
- $25.93
- low $23.06high $27.39
The ETF.net CAIQ Grade
C
Score 51 out of 100
- 16 of 31
Score 51 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C45 out of 100Rank 17 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A73 out of 100Rank 4 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C48 out of 100Rank 15 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D39 out of 100Rank 26 of 31
Our read on CAIQ
CAutocallable notes, normally sold one private-banking client at a time, packaged into a ticker. Calamos built CAIQ as the first Nasdaq-100 autocallable income ETF, seeking high monthly income from contingent coupons instead of covered calls.
The Fund seeks high monthly income and reduced downside risk through exposure to a portfolio of autocallables.
Why people hold it
- First ETF to put a portfolio of Nasdaq-100 autocallables, long a private-bank product, inside a ticker: no note-by-note paperwork, no account minimums.calamos.com
- The income engine is autocallable coupons, not covered calls, so the payout math does not depend on selling away Nasdaq-100 upside month after month.
- Actively managed rather than rules-locked: the team can redeploy as positions are called away or mature instead of following a fixed options calendar.
Worth knowing
- At 0.74% a year it costs more than the plain covered-call route on the same index, where JEPQ and GPIQ run 0.35%. Novelty carries a price.
- Launched in November 2025, so there is no multi-year record of how the autocallable sleeve behaves through a full Nasdaq drawdown.
- Coupons are contingent, not fixed. The fund aims for high monthly income, but the size and timing of what lands can move around.
CAIQ Holdings
- Other
- 4
- 101%
- TRS RECEIVE MQAUTOQL: MerQube NASDAQ-100 VOL ADVANTAGE AUTOCALL IDX PAY US SOFR Rate +10bps - JPM
Geography
- United States100.00%
CAIQ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
CAIQ$11,567
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CAIQ |
|---|---|
| Year to date | +15.7% |
| 1 month | +3.7% |
| 3 months | +3.0% |
| 1 year | — |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CAIQ |
|---|---|---|
| 2026 YTD | +15.7% | |
| 2025 | +4.0% |
CAIQ in the news
CAIQ Dividends
- $0.38 per share
- Monthly
Distribution data unavailable.
Distribution history
CAIQ Risk
- —
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- —
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- —
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.09
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CAIQ Cost
0.74%
CAIQ0.74%
- The middle half of Nasdaq-100 Option Income funds
- Median 0.71%
15 of the 30 Nasdaq-100 Option Income funds charge less.
Other funds in Nasdaq-100 Option Income
- BQQQHNEOS Nasdaq-100 Hedged Equity Income ETFExpense ratio 0.68%1 year return +13.5%
- CQXQSGI Enhanced Nasdaq 100 ETFExpense ratio 0.98%1 year return +28.0%
- CEDGQGlobal X Nasdaq-100 Income Edge ETFExpense ratio 0.53%1 year return —
- CQQQYDefiance Nasdaq 100 Weekly Distribution ETFExpense ratio 1.01%1 year return +24.9%
- CXQQINEOS Boosted Nasdaq-100 High Income ETFExpense ratio 0.98%1 year return —