CAGE ETF — Calamos Autocallable Growth ETF

Calamos Autocallable Growth ETF (CAGE)

CAGE is an ETF that tracks the Autocallables (MerQube US Large Cap Vol Advantage Autocallable Growth Index). As of August 19, 2026, its expense ratio is 0.74%. Fund total return is 15.7% over the past 0.3 years, 6.0 points ahead of SPY at 9.7%.

Calamos Autocallable Growth ETF provides exposure to a portfolio of autocallable securities linked to the MerQube US Large Cap Vol Advantage Autocallable Growth Index, designed to pursue tax-efficient growth through compounding rather than regular income distributions. The fund's autocallable structure and focus on volatility-adjusted large-cap exposure differentiate it from traditional equity ETFs, with no stated dividend yield as distributions are not a primary objective. This ETF appeals primarily to growth-oriented investors seeking tax efficiency and alternative equity exposure structures, rather than those focused on current income.

CAGE performance versus SPY

Data as of August 19, 2026.

Fund total return is 15.7% over the past 0.3 years, 6.0 points ahead of SPY at 9.7%.

CAGE key facts

Data as of August 19, 2026.

Issuer

Calamos Investments

Asset type

ETF

Asset class

Equity

Inception date

04/15/2026

Expense ratio

0.74%

Distribution frequency

Annual

Last close

$28.93

AUM

$127,125,179

Average volume

113173.0

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Calamos Investments fund page; Index: Autocallables (MerQube US Large Cap Vol Advantage Autocallable Growth Index); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

CAGE risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund.

Who may consider CAGE — and who may not

It is a weaker fit for investors who need monthly cash flow (CAGE pays annual); investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.

Compare CAGE

CAGE vs similar funds:

• CAGE vs VAIE

Frequently asked questions

More funds from Calamos Investments.