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BALI vs CAIE

iShares U.S. Large Cap Premium Income Active ETF

BALIACboe

Calamos Autocallable Income ETF

CAIECNYSE Arca

Overlap

Expense ratio

BALI −0.39pt a year

BALI0.35%CAIE0.74%

Avg volume · 30D

CAIE 1.9×the volume

BALI337KCAIE644K

BALI vs CAIE Performance

Oct 31, 2025 – Oct 30, 2026

+15.6%BALI+9.7%CAIE

Oct 31, 2025 to Oct 30, 2026. BALI +15.6%. CAIE +9.7%. Use the arrow keys to read each point.−5%0%5%Oct 2025Apr 2026Oct 2026
Expense ratio
BALI 0.35%, better
CAIE 0.74%
Fund size
BALI $1.54B
CAIE $1.5B
1Y total return
BALI +15.6%, better
CAIE +9.7%
Yield (12M)
BALI 7.84%
CAIE 14.61%, better
Holdings
BALI 193
CAIE 4
Avg volume (30D)
BALI 337K sh
CAIE 644K sh, better
NAV per share
BALI $34.08
CAIE $26.25
52W range

ETF.net Grade

BALI: Cost 77, Risk 56, Mission 100, Tradability 83, Holdings 83, Durability 85. CAIE: Cost 39, Risk 38, Mission not scored, Tradability 58, Holdings not scored, Durability 50.
Pillar letters and Scores for BALI, CAIE, with each pillar’s weight
PillarBALICAIE
Cost30% weightA77HigherD39
Mission25% weightA100Not scored
Risk15% weightB56HigherD38
Tradability15% weightA83HigherB58
Holdings10% weightA83Not scored
Durability5% weightA85HigherC50

Rank among S&P 500 Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BALI and CAIE are both graded against the same 51 S&P 500 Option Income funds, so their Grades compare head to head.

S&P 500 Option Income⁠

Category · 51 funds
See all 51 ›

BALI ranks 2nd and CAIE 36th of 51 funds in the S&P 500 Option Income Category.

  1. Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 83
  2. Rank 2ABALIiShares U.S. Large Cap Premium Income Active ETFScore 81
  3. Rank 3AIVVWiShares S&P 500 BuyWrite ETFScore 80
  4. Rank 35CSPYTDefiance S&P 500 Target Income ETFScore 47
  5. Rank 36CCAIECalamos Autocallable Income ETFScore 44
  6. Rank 37CXDTERoundhill S&P 500 0DTE Covered Call Strategy ETFScore 43

Our read on each fund

ETF.net Research

BALIAiShares U.S. Large Cap Premium Income Active ETF

CAIECCalamos Autocallable Income ETF

In short

BALI BlackRock's active answer to the covered-call crowd: roughly 200 hand-picked U.S. large caps, calls written on the S&P 500 itself rather than single stocks, monthly payouts, at well under the typical fee in its peer group.

CAIE CAIE puts autocallables, a structured payoff tied to an index level, inside an ETF wrapper. It seeks high monthly income with reduced downside risk, referencing the MerQube US Large Cap Vol Advantage Index.

Stated mandate

BALI BALI seeks consistent income with lower volatility than the broader U.S. equity market. It primarily holds U.S. large-cap equities, sells calls on a large-cap equity index, and uses related index futures to pursue premium income and capital appreciation.

CAIE The fund seeks high monthly income with reduced downside risk through exposure to a portfolio of autocallables.

Why people hold it

  • BALI 0.35% a year against a 0.60% median for S&P 500 option-income funds, and below what XYLD (0.60%) or SPYI (0.68%) charge for similar work.
  • Actively run, not a mechanical buy-write: about 200 large caps picked by the manager, index calls sold on top, index futures used alongside.ishares.com
  • Pays monthly, and the mandate chases capital appreciation as well as premium, so the stock sleeve is not just collateral for the options.
  • Does what its documents say it does, and stands among the stronger implementations in the S&P 500 option-income group.
  • CAIE Holds a portfolio of autocallables aiming for high monthly income with reduced downside risk, and it pays on a monthly cadence.calamos.com
  • The 0.74% fee sits essentially at the option-income median, so the exotic plumbing does not come with an exotic price tag.
  • A multi-billion-dollar fund with moderate trading volume that ranks in the upper half of its option-income peer group.

Worth knowing

  • BALI Selling index calls swaps part of a big rally for premium. The design targets lower volatility than the broad market, not maximum upside.
  • Distributions can include return of capital, meaning part of a payout may be your own money coming back rather than fund earnings.ishares.com
  • Launched in 2023, so the track record is short, and it trades at moderate volume rather than with the tightest spreads in the category.
  • CAIE Launched in 2025, so there is only a short stretch of market history behind it and limited risk data to judge the structure on.
  • Reduced downside risk here is conditional, set by the autocallable terms and where the reference index trades, not a hard floor.calamos.com
  • Cheaper builds live in the same cohort, including LQDW at 0.34% and YLDE at 0.47%.

Full BALI profile⁠

Full CAIE profile⁠

BALI vs CAIE Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BALI vs CAIE Cost

Overpaying CAIE vs BALI

$7,181

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BALI 0.35%

    $7,126

  • CAIE 0.74%

    $14,307

$10,000
30 years

Cost over time

  • BALI 0.35%
  • CAIE 0.74%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530CAIE $14,307BALI $7,126

Year by year

YearBALICAIEOverpaying
10$634$1,319$685
20$2,454$5,015$2,561
30$7,126$14,307$7,181

Expense ratio

  • 0.35%BALI, cheaper
  • 0.74%CAIE
  • Middle half of S&P 500 Option Income funds
  • Median 0.60%

BALI 11th cheapest of 51 funds

CAIE 31st cheapest of 51 funds

BALI vs CAIE Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BALI 7.84%
CAIE 14.61%, better
Payout (12M)
BALI $2.67
CAIE $3.83
Last payment
BALI $0.18
CAIE $0.31
Ex-dividend
BALI Oct 1, 2026
CAIE Oct 1, 2026
Paid on
BALI Oct 6, 2026
CAIE Oct 8, 2026
Frequency
BALI Monthly
CAIE Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BALIMonthly · 36 paymentsAll BALI payments⁠
One bar per payment. 36 payments from 2023 to 2026 YTD. Nov 1, 2023 $0.20; Dec 1, 2023 $0.16; Dec 14, 2023 $0.21; Feb 1, 2024 $0.16; Mar 1, 2024 $0.18; Apr 1, 2024 $0.14; May 1, 2024 $0.20; Jun 3, 2024 $0.13; Jul 1, 2024 $0.17; Aug 1, 2024 $0.19; Sep 3, 2024 $0.23; Oct 1, 2024 $0.20; Nov 1, 2024 $0.13; Dec 2, 2024 $0.23; Dec 18, 2024 $0.20; Feb 3, 2025 $0.17; Mar 3, 2025 $0.21; Apr 1, 2025 $0.25; May 1, 2025 $0.38; Jun 2, 2025 $0.23; Jul 1, 2025 $0.20; Aug 1, 2025 $0.20; Sep 2, 2025 $0.19; Oct 1, 2025 $0.19; Nov 3, 2025 $0.19; Dec 1, 2025 $0.25; Dec 30, 2025 $0.22; Feb 2, 2026 $0.18; Mar 2, 2026 $0.20; Apr 1, 2026 $0.35; May 1, 2026 $0.22; Jun 1, 2026 $0.22; Jul 1, 2026 $0.27; Aug 3, 2026 $0.19; Sep 1, 2026 $0.21; Oct 1, 2026 $0.18. Use the arrow keys to read each point.$0$0.2520232026YTD
CAIEMonthly · 15 paymentsAll CAIE payments⁠
One bar per payment. 15 payments from 2023 to 2026 YTD. Aug 1, 2025 $0.39; Sep 2, 2025 $0.31; Oct 1, 2025 $0.33; Nov 3, 2025 $0.33; Dec 1, 2025 $0.33; Dec 23, 2025 $0.33; Feb 2, 2026 $0.33; Mar 2, 2026 $0.32; Apr 1, 2026 $0.32; May 1, 2026 $0.32; Jun 1, 2026 $0.32; Jul 1, 2026 $0.32; Aug 3, 2026 $0.31; Sep 1, 2026 $0.31; Oct 1, 2026 $0.31. Use the arrow keys to read each point.$0$0.2520232026YTD

BALI vs CAIE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BALI 10.2%CAIE 10.5%since Jul 2025
Return per unit of riskSharpe ratio, 3 years
BALI 1.52CAIE 1.14since Jul 2025
Worst fallMax drawdown, 5 years
BALI −16.6%since Sep 2023CAIE −7.7%since Jun 2025
Market sensitivityBeta, 5 years
BALI 0.79CAIE 0.88

BALI and CAIE in the news

All news⁠

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