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

APRJ and CAGE both write options for income. Innovator Premium Income 30 Barrier ETF - April and Calamos Autocallable Growth ETF.

6.2%
APRJ cash paid, 1 year
0.0%
CAGE cash paid, since launch
+6.1%
APRJ total return, 1 year
+14.4%
CAGE total return, since launch
APRJ · 1 year to Sep 30, 20269.6 pts behind SPY
APRJ
+6.1%
SPY
+15.7%

9.6 pts behind SPY

APRJ over 1 year: paid 6.2%, price −0.2%, total +6.1%, SPY +15.7%, −9.6 pts.

SPY

+15.7%

APRJ

+6.1%

6.2% of it arrived as cash

9.6 pts behind SPY

Total return, distributions reinvested

9.6 pts behind SPY

APRJ over 1 year: paid 6.2%, price −0.2%, total +6.1%, SPY +15.7%, −9.6 pts.

SPY

+15.7%

APRJ

+6.1%

9.6 pts behind SPY

6.2% of it arrived as cash. Total return, distributions reinvested. APRJ over 1 year: paid 6.2%, price −0.2%, total +6.1%, SPY +15.7%, −9.6 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, APRJ 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 APRJ CAGE
Only in APRJ
TREASURY BILL 95.06%
TREASURY BILL 1.66%
TREASURY BILL 1.65%
TREASURY BILL 1.64%
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
WindowAPRJCAGEAPRJCAGEAPRJCAGE
3 months+1.1%+3.7%1.7%0.0%−1.4 pts+1.1 pts
6 months+3.9%not published3.5%not published−13.1 ptsnot published
1 year+6.1%not published6.2%not published−9.6 ptsnot published
3 years+19.5%not published17.8%not published−65.5 ptsnot published
Since launch
APRJ Apr 2023 · CAGE Apr 2026
+23.8%+14.4%21.1%0.0%−70.0 pts+5.2 pts

APRJ 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

APRJ
Innovator Premium Income 30 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 6.9% not published
Expense ratio 0.79% 0.74%
Cash paid, 1 year 6.2% 0.0% (since launch on Apr 16, 2026)
Price change, 1 year −0.2% +14.4%
Total return, 1 year +6.1% +14.4% (since launch on Apr 16, 2026)
Benchmark return, 1 year +15.7% +9.2%
Ahead or behind −9.6 pts +5.2 pts
Return of capital, latest estimate not published not published
Age 1276 days 167 days
Net assets $28m $14m

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

APRJ in plain words

Over the year to Sep 30, 2026, APRJ paid 6.2% of its starting value in cash distributions while its price fell 0.2%. With every distribution reinvested, the fund returned +6.1%. S&P 500 (SPY) returned +15.7% over the same days, so a holder was behind by 9.6 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 6.9%, 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, APRJ or CAGE?
APRJ 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, APRJ against CAGE, data as of Sep 30, 2026. https://etfiq.com/compare/income/aprj-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.