Data as of Oct 28, 2026.
CAGE vs SPY: Differences, Returns & Fees
CAGE and SPY are measured over different days, and SPY charges 0.09% to CAGE's 0.74%.
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Net assets: $106m on Jul 31, 2026 for Calamos Autocallable Growth ETF, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.65 points a year less.
| Measure | CAGE | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +13.6% |
| Cash paid, share of starting value, since Apr 16, 2026 | 0.0% | |
| Price change, since Apr 16, 2026 | rose 17.4% | |
| Against its benchmark | ||
| What it tracks | Benchmark: S&P 500, measured through SPY | S&P 500 Index |
| Against its benchmark, same days | ahead by 6.8 pts | |
| Cost and size | ||
| Expense ratio | 0.74% | 0.09% |
| Net assets, CAGE as of Jul 31, 2026 and SPY as of Oct 27, 2026 | $106m | $814.8bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
Apr 24, 2026 to Oct 23, 2026 · 26 weekly returnsCAGE returned more: +10.7% to +7.0%. SPY fell less at its worst: −3.4% to −5.2%.
Full scorecard
3 measures, with how each is measured Open ↓
| Measure | CAGE | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +10.7% | +7.0% | CAGE | Price change plus distributions, reinvested. |
| Price return | +10.7% | +6.4% | CAGE | Price change alone, distributions left out. |
| Risk | ||||
| Max drawdown | −5.2% | −3.4% | SPY | Deepest fall from a high to the low after it. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 26 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, CAGE and SPY hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
CAGE and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: ETFIQ prints no one-year total return for CAGE.
CAGE
Over the period from its first trade on Apr 16, 2026 to Oct 28, 2026, CAGE paid 0.0% of its starting value in cash distributions while its price rose 17.4%. With every distribution reinvested, the fund returned +17.4%. S&P 500 (SPY) returned +10.6% over the same days, so a holder was ahead by 6.8 pts.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Are CAGE and SPY in the same category?
- CAGE is an option-income ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which is cheaper, CAGE or SPY?
- SPY is cheaper, by 0.65 percentage points a year. That is about $65 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, CAGE against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/cage-vs-spy
ETFIQ. (Oct 28, 2026). CAGE against SPY. Retrieved from https://etfiq.com/compare/any/cage-vs-spy
[CAGE against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/cage-vs-spy)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.