A head-to-head comparison of Calamos Autocallable Income ETF and VegaShares US Equity Autocallable Income ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Calamos Investments is known for developing sophisticated income and alternative investment strategies through exchange-traded funds designed for investors seeking enhanced yields and downside protection. The firm operates a focused lineup of 8 ETFs spanning income generation, structured products with built-in protection mechanisms, autocallable strategies, and alternative approaches, with popular tickers including CAGE, CAIE, and CBXL. Calamos distinguishes itself through specialization in complex strategies such as covered call structures and principal-protected alternatives rather than traditional passive indexing.
See our curated list of related YouTube videos on CAIE.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VegaShares operates a focused suite of two income-focused ETFs designed to generate regular distributions through options strategies and dividend investing. The firm's lineup includes ODTE and VAIE, both emphasizing yield generation for investors seeking regular cash flow. With a specialized niche in options-based and dividend income strategies, VegaShares targets investors prioritizing distributions over capital appreciation.
See our curated list of related YouTube videos on VAIE.
Autocallables (MerQube US Large-Cap Vol Advantage Autocallable Index)
NYSE U.S. 500 Adaptive Vol Autocallable Index
Objective
Seeks to generate high monthly income while providing reduced downside risk through exposure to a portfolio of autocallables.
Autocallable Income
Asset class
Equity
Equity
Inception date
06/25/2025
05/12/2026
Beta
0.9238
—
Last dividend
$0.3182
$0.0780
Ex-dividend date
07/01/2026
07/23/2026
Bottom lineChoose CAIE if you want broad equity exposure. Choose VAIE if you want to maximize current income — roughly 16.64%, generated by selling options premium.
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
CAIE has outpaced VAIE over the year to date, posting a 7.90% total return against 0.50%. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 31, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since May 2026” measures every fund from May 12, 2026 — the youngest fund's first trading day — so all funds share one comparison window.
Quick verdict
CAIE (Calamos Autocallable Income ETF) and VAIE (VegaShares US Equity Autocallable Income ETF) are both dividend ETFs, but they take different approaches.
VAIE offers the higher yield at 16.64% vs 14.22% for CAIE. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
They track different benchmarks: CAIE is linked to Autocallables (MerQube US Large-Cap Vol Advantage Autocallable Index) while VAIE tracks NYSE U.S. 500 Adaptive Vol Autocallable Index, which means their performance drivers differ.
CAIE has $1.13B in assets vs $19.7M for VAIE, but VAIE only launched May 2026 — AUM comparisons will become more meaningful as it builds a track record.
Who should choose each?
Choose CAIE
Calamos Autocallable Income ETF
Want broad equity exposure.
Prefer an established track record — VAIE only launched May 2026.
Choose VAIE
VegaShares US Equity Autocallable Income ETF
Want to maximize current income — VAIE distributes roughly 16.64% from selling options premium, vs 14.22% for CAIE.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track CAIE & VAIE for free
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On a $10,000 investment, CAIE would generate roughly $118.50/month, while VAIE would produce $138.67/month, at current distribution rates.
CAIE yield14.22%
VAIE yield16.64%
Monthly diff on $10K$20.17
Cost & efficiency
Over 10 years on $10,000, CAIE would cost approximately $740 in fees vs $740 for VAIE (simplified, not compounded). Both charge the same expense ratio.
CAIE ER0.74%
VAIE ER0.74%
Strategy & risk
CAIE tracks Autocallables (MerQube US Large-Cap Vol Advantage Autocallable Index) with a downside protection approach, while VAIE tracks NYSE U.S. 500 Adaptive Vol Autocallable Index with an autocallable income approach.
CAIE beta0.9238
VAIE beta—
Fund details
CAIE is managed by Calamos Investments (launched 06/25/2025) with $1.13B in assets. VAIE is managed by VegaShares (launched 05/12/2026) with $19.7M in assets.
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Frequently asked questions
Is CAIE or VAIE better for dividend income?
It depends on your goals. VAIE currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between CAIE and VAIE?
CAIE (Calamos Autocallable Income ETF) tracks Autocallables (MerQube US Large-Cap Vol Advantage Autocallable Index) with a downside protection approach, while VAIE (VegaShares US Equity Autocallable Income ETF) tracks NYSE U.S. 500 Adaptive Vol Autocallable Index with an autocallable income approach. They are issued by Calamos Investments and VegaShares respectively.
Can I hold both CAIE and VAIE?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, CAIE or VAIE?
CAIE and VAIE both charge the same expense ratio of 0.74%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.
How much income does $10,000 in CAIE vs VAIE generate?
At current rates, $10,000 in CAIE would generate roughly $118.50 per month ($1,422.00 annually). The same in VAIE would produce about $138.67 per month ($1,664.00 annually).
Which has performed better historically, CAIE or VAIE?
CAIE has outpaced VAIE over the year to date, posting a 7.90% total return against 0.50%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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