CAIQ vs SPY
Calamos Nasdaq Autocallable Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CAIQ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.74% | 0.09% | |
| AUM | $324M | $821.1B | |
| Dividend Yield | 10.48% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +12.00% | +12.68% | |
| 1Y Return | - | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -9.1% | -56.5% | |
| Fund Family | Calamos Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Nov 20, 2025 | Jan 22, 1993 |
CAIQ vs SPY Performance
Calamos Nasdaq Autocallable Income ETF (CAIQ) is a ETF from Calamos Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, CAIQ is up 12.00% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -9.1% for CAIQ and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
CAIQ charges 0.74% per year while SPY charges 0.09%. On a $10,000 position that is $74 vs $9 annually, a gap of $65 per year that compounds over a long holding period. On income, CAIQ currently yields 10.48% against 1.01% for SPY.
Holdings Overlap
CAIQ and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CAIQ or SPY?
CAIQ has an expense ratio of 0.74% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $65 per year of difference.
What is the holdings overlap between CAIQ and SPY?
CAIQ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, CAIQ or SPY?
CAIQ yields 10.48% while SPY yields 1.01%, so CAIQ currently pays the higher dividend yield.
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