CAIQ vs QQQ
Calamos Nasdaq Autocallable Income ETF vs Invesco QQQ Trust, Series 1
Which is better, CAIQ or QQQ?
Option Writing against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y. The two have moved almost in lockstep, correlation 0.95.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAIQ | QQQ |
|---|---|---|
| Expense Ratio | 0.74% | 0.18%Best |
| AUM | $387M | $437.3B |
| Dividend Yield | 15.31% | 0.43% |
| Holdings | 12 | 208 |
| YTD Return | +7.59% | +12.98%Best |
| 1Y Return | +11.15% | +11.59%Best |
| 3Y Return (annualized) | - | +23.05% |
| 5Y Return (annualized) | - | +12.74% |
| Volatility (annualized) | 17.6%Best | 23.1% |
| Fund Family | Calamos Investments | Invesco (US) |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Growth |
| Inception | Nov 20, 2025 | Mar 10, 1999 |
Not shown on this pair: Max Drawdown, $10,000 over the window, Top 10 Weight.
CAIQ vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
CAIQ vs QQQ Performance
Calamos Nasdaq Autocallable Income ETF (CAIQ) is an ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year CAIQ returned +11.15% while QQQ returned +11.59%. Year to date, CAIQ is up 7.59% versus a gain of 12.98% for QQQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 23.1% compared with 17.6% for CAIQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CAIQ charges 0.74% per year while QQQ charges 0.18%. On a $10,000 position that is $74 vs $18 annually, a gap of $56 per year that compounds over a long holding period. On income, CAIQ currently yields 15.31% against 0.43% for QQQ.
Holdings Overlap
We hold position weights for 1 holding in CAIQ and 101 in QQQ, totalling 79.9% and 99.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in CAIQ and 101 in QQQ, against full books of 12 and 208.
You are not choosing between two funds in isolation.
Whichever of CAIQ and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAIQ or QQQ?
CAIQ has an expense ratio of 0.74% while QQQ charges 0.18%. QQQ is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, CAIQ or QQQ?
Over the past year CAIQ returned +11.15% vs +11.59% for QQQ, so QQQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAIQ or QQQ?
QQQ has been the more volatile fund at 23.1% annualized versus 17.6% for CAIQ.
Should I hold both CAIQ and QQQ?
CAIQ and QQQ have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, CAIQ or QQQ?
CAIQ yields 15.31% while QQQ yields 0.43%, so CAIQ currently pays the higher dividend yield.
Is QQQ better than CAIQ?
QQQ has a lower expense ratio. QQQ led over 1Y. The two have moved almost in lockstep, correlation 0.95. Which one suits a particular account depends on what it is for. This is information, not a recommendation.