CANQ vs SPY
Calamos Nasdaq Equity & Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CANQ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.94% | 0.09% | |
| AUM | $22M | $821.1B | |
| Dividend Yield | 4.57% | 1.01% | |
| Holdings | 32 | 505 | |
| YTD Return | +4.38% | +12.73% | |
| 1Y Return | +7.73% | +20.06% | |
| 3Y Return (annualized) | - | +21.59% | |
| 5Y Return (annualized) | - | +12.93% | |
| Volatility (annualized) | 11.2% | 15.3% | |
| Max Drawdown | -12.8% | -56.5% | |
| Fund Family | Calamos Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 13, 2024 | Jan 22, 1993 |
CANQ vs SPY Performance
Calamos Nasdaq Equity & Income ETF (CANQ) is a ETF from Calamos Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CANQ returned +7.73% while SPY returned +20.06%. Year to date, CANQ is up 4.38% versus a gain of 12.73% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.2% for CANQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.8% for CANQ and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CANQ charges 0.94% per year while SPY charges 0.09%. On a $10,000 position that is $94 vs $9 annually, a gap of $85 per year that compounds over a long holding period. On income, CANQ currently yields 4.57% against 1.01% for SPY.
Holdings Overlap
CANQ and SPY share 13 holdings out of 514 unique holdings combined, representing a 5.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CANQ or SPY?
CANQ has an expense ratio of 0.94% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $85 per year of difference.
Which performed better, CANQ or SPY?
Over the past year CANQ returned +7.73% vs +20.06% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), CANQ annualized +14.84% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, CANQ or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.2% for CANQ. Worst drawdown: CANQ -12.8% vs SPY -56.5%.
Should I hold both CANQ and SPY?
CANQ and SPY have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CANQ and SPY?
CANQ and SPY share 13 common holdings with a 5.9% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, CANQ or SPY?
CANQ yields 4.57% while SPY yields 1.01%, so CANQ currently pays the higher dividend yield.
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