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CAIQ vs GPIQ

Calamos Nasdaq Autocallable Income ETF

CAIQCNasdaq

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

Overlap

Expense ratio

GPIQ −0.45pt a year

CAIQ0.74%GPIQ0.29%

Avg volume · 30D

GPIQ 6.3×the volume

CAIQ250KGPIQ1.57M

CAIQ vs GPIQ Performance

Dec 31, 2025 – Oct 30, 2026

+8.1%CAIQ+12.1%GPIQ

Dec 31, 2025 to Oct 30, 2026. CAIQ +8.1%. GPIQ +12.1%. Use the arrow keys to read each point.−5%0%5%20%Dec 2025Jun 2026Oct 2026
Expense ratio
CAIQ 0.74%
GPIQ 0.29%, better
Fund size
CAIQ $406M
GPIQ $6.52B
1Y total return
CAIQ No data
GPIQ +11.4%
Yield (12M)
CAIQ No data
GPIQ 10.62%
Holdings
CAIQ 4
GPIQ 102
Avg volume (30D)
CAIQ 250K sh
GPIQ 1.57M sh, better
NAV per share
CAIQ $24.28
GPIQ $56.04
52W range

ETF.net Grade

CAIQ: Cost 47, Risk 69, Mission not scored, Tradability 54, Holdings not scored, Durability 38. GPIQ: Cost 92, Risk 52, Mission 100, Tradability 73, Holdings 85, Durability 79.
Pillar letters and Scores for CAIQ, GPIQ, with each pillar’s weight
PillarCAIQGPIQ
Cost30% weightC47A92Higher
Mission25% weightNot scoredA100
Risk15% weightB69HigherC52
Tradability15% weightC54A73Higher
Holdings10% weightNot scoredA85
Durability5% weightD38A79Higher

Rank among Nasdaq-100 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. CAIQ and GPIQ are both graded against the same 30 Nasdaq-100 Option Income funds, so their Grades compare head to head.

Nasdaq-100 Option Income⁠

Category · 30 funds
See all 30 ›

GPIQ ranks 1st and CAIQ 18th of 30 funds in the Nasdaq-100 Option Income Category.

  1. Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 83
  2. Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
  3. Rank 17CXQQINEOS Boosted Nasdaq-100 High Income ETFScore 53
  4. Rank 18CCAIQCalamos Nasdaq Autocallable Income ETFScore 52
  5. Rank 19CQXQSGI Enhanced Nasdaq 100 ETFScore 51

Our read on each fund

ETF.net Research

CAIQCCalamos Nasdaq Autocallable Income ETF

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

In short

CAIQ Autocallable 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.

GPIQ Goldman's take on the Nasdaq-100 income trade: it owns the index but sells calls on only 25% to 75% of the portfolio, reset monthly, so part of the upside stays uncapped. Fee is 0.29% net of a waiver through April 30, 2027.

Stated mandate

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

GPIQ The Fund seeks current income while maintaining prospects for capital appreciation. It provides Nasdaq-100 equity exposure and dynamically sells call options while seeking participation in rising markets.

Why people hold it

  • CAIQ 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.
  • GPIQ The overwrite is a dial, not a switch: calls cover 25% to 75% of the equity portfolio, reset each month, leaving a slice of Nasdaq-100 upside uncapped by design.gsam.com
  • 0.29% net of a waiver through April 30, 2027 undercuts JEPQ at 0.35% and QYLD at 0.60%, and matches QQA, which is 0.29% net of a waiver through August 31, 2027.
  • Calls are written on index-level exposure, not individual names, and the stock sleeve tracks Nasdaq-100 weights. Pays monthly.sec.gov
  • A multi-billion-dollar, actively traded fund and one of the strongest implementations in a crowded Nasdaq-100 income group.

Worth knowing

  • CAIQ 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.
  • GPIQ Goldman's filing flags that a significant portion of distributions may be return of capital, which trims your cost basis rather than adding to it.sec.gov
  • Full exposure to Nasdaq-100 drawdowns stays; premium cushions the ride but does not offset a selloff, and gains on the overwritten slice are capped.sec.gov
  • Gross fee is 0.35%. If the waiver is not extended past April 30, 2027, the cost steps up to that level.

Full CAIQ profile⁠

Full GPIQ profile⁠

CAIQ vs GPIQ 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.

CAIQ vs GPIQ Cost

Overpaying CAIQ vs GPIQ

$8,355

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

  • CAIQ 0.74%

    $14,307

  • GPIQ 0.29%

    $5,952

$10,000
30 years

Cost over time

  • CAIQ 0.74%
  • GPIQ 0.29%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530CAIQ $14,307GPIQ $5,952

Year by year

YearCAIQGPIQOverpaying
10$1,319$527$792
20$5,015$2,044$2,971
30$14,307$5,952$8,355

Expense ratio

  • 0.74%CAIQ
  • 0.29%GPIQ, cheaper
  • Middle half of Nasdaq-100 Option Income funds
  • Median 0.71%

GPIQ 2nd cheapest of 30 funds

CAIQ 16th cheapest of 30 funds

CAIQ vs GPIQ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CAIQ No data
GPIQ 10.62%
Payout (12M)
CAIQ No data
GPIQ $5.77
Last payment
CAIQ $0.38
GPIQ $0.51
Ex-dividend
CAIQ Oct 1, 2026
GPIQ Oct 1, 2026
Paid on
CAIQ Oct 8, 2026
GPIQ Oct 7, 2026
Frequency
CAIQ Monthly
GPIQ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CAIQMonthly · 10 paymentsAll CAIQ payments⁠
One bar per payment. 10 payments from 2023 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; Oct 1, 2026 $0.38. Use the arrow keys to read each point.$0$0.5020232026YTD
GPIQMonthly · 35 paymentsAll GPIQ payments⁠
One bar per payment. 35 payments from 2023 to 2026 YTD. Dec 4, 2023 $0.38; Dec 28, 2023 $0.39; Feb 2, 2024 $0.39; Mar 4, 2024 $0.40; Apr 2, 2024 $0.41; May 2, 2024 $0.39; Jun 4, 2024 $0.41; Jul 2, 2024 $0.42; Aug 2, 2024 $0.41; Sep 4, 2024 $0.41; Oct 2, 2024 $0.42; Nov 4, 2024 $0.41; Dec 3, 2024 $0.43; Jan 3, 2025 $0.43; Feb 3, 2025 $0.44; Mar 3, 2025 $0.41; Apr 1, 2025 $0.39; May 1, 2025 $0.39; Jun 2, 2025 $0.41; Jul 1, 2025 $0.43; Aug 1, 2025 $0.44; Sep 2, 2025 $0.44; Oct 1, 2025 $0.46; Nov 3, 2025 $0.47; Dec 1, 2025 $0.47; Jan 2, 2026 $0.46; Feb 2, 2026 $0.47; Mar 2, 2026 $0.45; Apr 1, 2026 $0.43; May 1, 2026 $0.48; Jun 1, 2026 $0.52; Jul 1, 2026 $0.52; Aug 3, 2026 $0.49; Sep 1, 2026 $0.50; Oct 1, 2026 $0.51. Use the arrow keys to read each point.$0$0.5020232026YTD

CAIQ vs GPIQ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CAIQ No dataGPIQ 14.5%
Return per unit of riskSharpe ratio, 3 years
CAIQ No dataGPIQ 1.21
Worst fallMax drawdown, 5 years
CAIQ No dataGPIQ −21.1%since Oct 2023
Market sensitivityBeta, 5 years
CAIQ 1.09GPIQ 1.16

CAIQ and GPIQ in the news

All news⁠

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