CAIQ ETF Analysis: Calamos Nasdaq Autocallable | NASDAQ
Derivative Income | NASDAQ, USA | Market Cap: 359m USD | 12M Return: 19.3% | US12811T5305 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.63M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 0.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
CAIQ is a non-diversified, actively managed ETF that invests at least 80% of its assets in U.S. Treasuries, cash, cash equivalents, box spreads, and unfunded total return swaps to gain exposure to a target index. Rather than tracking or replicating the index, the fund uses derivative instruments-primarily total return swaps-to capture returns linked to the indexs performance, falling within the broader derivative income ETF category.
The funds structure reflects a synthetic exposure strategy common in income-oriented ETFs, where unfunded swaps allow the issuer to deliver index-linked returns without holding the underlying securities directly. As a recent IPO (November 2025) from Calamos, a sponsor known for its covered call and income-focused ETF lineup, CAIQ joins a growing segment of derivative-based products targeting yield through options and swap-based structures rather than traditional stock or bond holdings.
- Nasdaq 100 level drives swap-linked payout
- Treasury yields and swap spreads compress income distributions
- Autocallable structure adoption lifts AUM inflows
As of September 27, 2026, the stock is trading at USD 26.26 with a total of 238,545 shares traded. Over the past week, the price has changed by +2.82%, over one month by +3.89%, over three months by +3.37% and over the past year by +19.31%.
Current recommended Stop Loss: 25.80 (which is 1.8% or 1.5 ATR below the current price).
Calamos Nasdaq Autocallable has no consensus analysts rating.