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CAIQ

GradeCNASDAQ

Calamos Nasdaq Autocallable Income ETF

Option Income · Calamos · Inception 2025-11-20

$26.17−0.19 (−0.72%)

As of Sep 23, 2026, 2:17 PM EDT

History starts Nov 20, 2025.History starts Nov 20, 2025.
Intraday session: down, 59 prints from 26.36 to 26.17. Range 26.10 to 26.39. Use the arrow keys to read each point.$26.10$26.30$26.4010 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$372M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0.2M sh
NAV per share
$26.34
52W range
low $23.06high $27.39

The ETF.net CAIQ Grade

C

52/ 100

Rank 15 of 31 in Nasdaq-100 Option Income⁠

Confidence Medium

Six-pillar profile for CAIQ. Scores out of 100: Cost 48, Risk 73, Mission not scored, Tradability 46, Holdings not scored, Durability 40. Strongest: Risk (73). Weakest: Durability (40). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 52 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 48
    Category rank16/31 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 73
    Category rank4/30 · top 13%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 46
    Category rank16/31 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 40
    Category rank25/31 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on CAIQ

ETF.net Research

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.

Stated mandate

The Fund seeks high monthly income and reduced downside risk through exposure to a portfolio of autocallables.

Why people hold it

  1. 01First 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
  2. 02The income engine is autocallable coupons, not covered calls, so the payout math does not depend on selling away Nasdaq-100 upside month after month.
  3. 03Actively 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

  1. 01At 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.
  2. 02Launched in November 2025, so there is no multi-year record of how the autocallable sleeve behaves through a full Nasdaq drawdown.
  3. 03Coupons are contingent, not fixed. The fund aims for high monthly income, but the size and timing of what lands can move around.

CAIQ Holdings

As of Sep 20, 2026, 9:03 AM
Asset class
Other
Holdings
—
Top-10 weight
101%
Largest holding
TRS RECEIVE MQAUTOQL: MerQube NASDAQ-100 VOL ADVANTAGE AUTOCALL IDX PAY US SOFR Rate +10bps - JPM51.4%

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TRS RECEIVE MQAUTOQL: MerQube NASDAQ-100 VOL ADVANTAGE AUTOCALL IDX PAY US SOFR Rate +10bps - JPM51.40%155,283$358M1
002CBOXCalamos Tax-Aware Collateral ETF41.10%2,811,966$286M3
003—United States Treasury Bill7.52%52,950,000$52M10
004—US DOLLAR0.72%4,978,165$5M231

Showing 1–4 of 4 holdings

CAIQ Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

CAIQ$11,572
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. CAIQ $11,572. SPY $11,430. Use the arrow keys to read each point.$9,111$10,433$11,754Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for CAIQ. Periods over one year show the average yearly return.
PeriodCAIQ
Year to date+15.7%
1 month+4.1%
3 months+2.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CAIQ
YearReturn barCAIQ
2026 YTD+15.7%
2025+4.0%

Since listing, Nov 20, 2025

CAIQ in the news

CAIQ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.38 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 9 payments from 2025 to 2026 YTD. Dec 23, 2025 $0.39; Feb 2, 2026 $0.38; Mar 2, 2026 $0.38; Apr 1, 2026 $0.38; May 1, 2026 $0.38; Jun 1, 2026 $0.38; Jul 1, 2026 $0.38; Aug 3, 2026 $0.38; Sep 1, 2026 $0.38. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 9, 2026$0.38
Aug 3, 2026Aug 10, 2026$0.38
Jul 1, 2026Jul 9, 2026$0.38
Jun 1, 2026Jun 8, 2026$0.38
May 1, 2026May 8, 2026$0.38
Apr 1, 2026Apr 8, 2026$0.38
Mar 2, 2026Mar 9, 2026$0.38
Feb 2, 2026Feb 9, 2026$0.38
Dec 23, 2025Dec 30, 2025$0.39

CAIQ Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Nov 2025; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Nov 2025; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
—
Launched Nov 2025; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
1.12
vs its asset-class index
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

Expense ratio0.74%
  • The middle half of Nasdaq-100 Option Income funds
  • Median 0.74%

15 of the 31 Nasdaq-100 Option Income funds charge less.

CAIQ costs $74.00 a year on $10,000. The median Nasdaq-100 Option Income fund costs $74.00.