APRH vs CAGE: which paid, and which earned it?

APRH and CAGE both write options for income. Innovator Premium Income 20 Barrier ETF -- April and Calamos Autocallable Growth ETF.

6.4%
APRH cash paid, 1 year
0.0%
CAGE cash paid, since launch
+6.7%
APRH total return, 1 year
+14.4%
CAGE total return, since launch
APRH · 1 year to Sep 30, 20269.1 pts behind SPY
APRH
+6.7%
SPY
+15.7%

9.1 pts behind SPY

APRH over 1 year: paid 6.4%, price +0.1%, total +6.7%, SPY +15.7%, −9.1 pts.

SPY

+15.7%

APRH

+6.7%

6.4% of it arrived as cash

9.1 pts behind SPY

Total return, distributions reinvested

9.1 pts behind SPY

APRH over 1 year: paid 6.4%, price +0.1%, total +6.7%, SPY +15.7%, −9.1 pts.

SPY

+15.7%

APRH

+6.7%

9.1 pts behind SPY

6.4% of it arrived as cash. Total return, distributions reinvested. APRH over 1 year: paid 6.4%, price +0.1%, total +6.7%, SPY +15.7%, −9.1 pts.

CAGE · since launch to Sep 30, 20265.2 pts ahead of SPY
CAGE
+14.4%
SPY
+9.2%

5.2 pts ahead of SPY

CAGE since launch: paid 0.0%, price +14.4%, total +14.4%, SPY +9.2%, +5.2 pts.

SPY

+9.2%

CAGE

+14.4%

5.2 pts ahead of SPY

Total return, distributions reinvested

5.2 pts ahead of SPY

CAGE since launch: paid 0.0%, price +14.4%, total +14.4%, SPY +9.2%, +5.2 pts.

SPY

+9.2%

CAGE

+14.4%

5.2 pts ahead of SPY

0.0% of it arrived as cash. Both charts share one scale, 0 to +15.7%. CAGE since launch: paid 0.0%, price +14.4%, total +14.4%, SPY +9.2%, +5.2 pts.

What they hold in common

By the books each fund has filed, APRH and CAGE hold 0% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026.

half

0% in common

Positions both hold, largest shared weight first
Holding APRH CAGE
Only in APRH
TREASURY BILL 94.03%
TREASURY BILL 2.00%
TREASURY BILL 1.99%
TREASURY BILL 1.98%
Only in CAGE
Calamos Tax-Aware Collateral ETF 100.00%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

Performance, window by window

Total returnCash paidAgainst the benchmark
WindowAPRHCAGEAPRHCAGEAPRHCAGE
3 months+1.4%+3.7%2.1%0.0%−1.1 pts+1.1 pts
6 months+5.2%not published4.3%not published−11.8 ptsnot published
1 year+6.7%not published6.4%not published−9.1 ptsnot published
3 years+23.3%not published20.3%not published−61.7 ptsnot published
Since launch
APRH Apr 2023 · CAGE Apr 2026
+28.7%+14.4%24.3%0.0%−65.1 pts+5.2 pts

APRH and CAGE over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

APRH
Innovator Premium Income 20 Barrier ETF -- April · Defined income on SPY, paying quarterly
CAGE
Calamos Autocallable Growth ETF · Autocallable on SPY
Issuer Innovator Calamos
Strategy defined income autocallable
Benchmark S&P 500 (SPY) S&P 500 (SPY), used as a default proxy
Pays quarterly not established
Payout rate, annualized 8.4% not published
Expense ratio 0.79% 0.74%
Cash paid, 1 year 6.4% 0.0% (since launch on Apr 16, 2026)
Price change, 1 year +0.1% +14.4%
Total return, 1 year +6.7% +14.4% (since launch on Apr 16, 2026)
Benchmark return, 1 year +15.7% +9.2%
Ahead or behind −9.1 pts +5.2 pts
Return of capital, latest estimate not published not published
Age 1276 days 167 days
Net assets $25m $14m

APRH and CAGE on the same fields, as of Sep 30, 2026. Source: ETFIQ.

APRH in plain words

Over the year to Sep 30, 2026, APRH paid 6.4% of its starting value in cash distributions while its price rose 0.1%. With every distribution reinvested, the fund returned +6.7%. S&P 500 (SPY) returned +15.7% over the same days, so a holder was behind by 9.1 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 8.4%, paid quarterly.

CAGE in plain words

Over the period since launch on Apr 16, 2026 to Sep 30, 2026, CAGE paid 0.0% of its starting value in cash distributions while its price rose 14.4%. With every distribution reinvested, the fund returned +14.4%. S&P 500 (SPY), used as a default proxy returned +9.2% over the same days, so a holder was ahead by 5.2 pts.

Questions people ask

Which is cheaper, APRH or CAGE?
APRH charges 0.79% a year and CAGE charges 0.74%, so CAGE is cheaper. Fees come from each fund's prospectus.
Cite this page

ETFIQ, APRH against CAGE, data as of Sep 30, 2026. https://etfiq.com/compare/income/aprh-vs-cage

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.