CAIQCalamos Nasdaq Autocallable Income ETF
Seeks to generate high monthly income with reduced downside risk through exposure to the MerQube Nasdaq-100 Vol Advantage Autocallable Index.
By Calamos · Launched 2025
0.74%
#3,625 of 5,562 · average
$207M
#2,287 of 5,562 · mid-size
—
7 months
#5,009 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundAsset class
AlternativeRegion
North americaStrategy
Option income
Index tracked
MerQube Nasdaq-100 Vol Advantage Autocallable Index
What it actually holds
By weightConcentration
Top 1 holdings = 76.1% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- NASDAQ Global Select Market
Full fund details
- Objective
- Seeks to generate high monthly income with reduced downside risk through exposure to the MerQube Nasdaq-100 Vol Advantage Autocallable Index.
- Strategy
- Invests primarily in U.S. Treasuries, cash, cash equivalents, box spreads, and unfunded total return swaps for exposure to the Autocallable Index. Actively managed, the Fund does not aim to replicate the Index but uses financial instruments to gain exposure and make periodic distributions based on the Index's performance.
- Inception date
- November 20, 2025
- Fund family
- Calamos
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
What's next?
You've reviewed CAIQ. Save it to your watchlist to track it alongside the other funds you're weighing.
Data updated on 2026-06-19